INSUBCONTINENT EXCLUSIVE:
NEW DELHI: There was a dearth of good triggers to take the benchmark indices higher during the week gone by.
Crude prices boiled at $80
mark, the highest since November 2014
US bond yields jumped to levels last seen in 2011 while the rupee tumbled below the 68 mark
This is at a time when foreign outflows have been on a rise
Add political uncertainty, and it was recipe for a depressed market.
The Sensex lost 687 points, or 1.93 per cent, for the week to settle at
NSE barometer Nifty50 dropped 210 points, or 1.94 per cent, to close at 10,596.
Select stocks hogged limelight through the week.
Reliance
Communications: This stock fell in four of last five sessions
Yet, led by a whopping 57 per cent surge on Thursday, it managed to settle 12 per cent higher for the week
The stock surged on reports that the company was in talks with Swedish telecom firm Ericsson to reach a settlement on unpaid service dues
outside of the bankruptcy court
But a Reuters report said this was unlikely
The insolvency tribunal has named three separate interim resolution professionals (IRPs) for bankruptcy proceedings against Anil
Ambani-owned companies.
Sun TV: This stock climbed 10 per cent during the week after a host of brokerages, including CLSA, Edelweiss and
Bloomberg data showed of the 26 analysts tracking the stock, 21 had buy ratings, two had hold and three sell
The consensus target price is Rs 1,118.11
The broadcaster reported a 22.8 per cent increase in net profit at Rs 289.76 crore for March quarter
Punjab National Bank: This stock lost 16 per cent of market value last week after reporting highest-ever quarterly loss at Rs 13,416 crore
The lender took a massive hit from the Rs 14,000 crore Nirav Modi scam
PNB's market capitalisation at Rs 20,635 crore on Friday was lower than its subsidiary PNB Housing Finance's Rs 21,289 crore.
Hindustan
Unilever: The subsidiary of UK-based Unilever piped ITC this week to become the most valued FMCG firm on BSE
At Friday's close, HUL's market capitalisation at Rs 3.47 lakh crore was higher than ITC's Rs 3.44 lakh crore.HUL rose 6.5 per cent last
week against a 0.6 per cent drop in shares of ITC
Allahabad Bank: This stock declined as the lender took away all executive powers of chief executive officer Usha Ananthasubramanian after
the Central Bureau of Investigation named her in the Rs 13,700 crore Punjab National Bank-Nirav Modi fraud
The has imposed restrictions on the bank's lending to risky assets and raising high-cost deposits in view of deteriorating financial
health.
Bajaj Finance: This stock soared for sixth consecutive sessions to Friday and hit a record high this past week
This stock soared 15.35 per cent during the week after the NBFC reported a 61 per cent jump in net profit at Rs 721 crore for the March
quarter on 33 per cent rise in total income to Rs 3,557 crore for the same quarter
Strong and consistent growth, impeccable asset quality and focus on delivering 3 per cent RoA will keep commanding premium valuations, Axis
Capital said in a note.
Vakrangee: The stock fell 23 per cent last week after MSCI, a leading provider of benchmark indices globally,
excluded it from its India Index
Price Waterhouse recently quit audit mandate of the company.
BPCL, HPCL and IOC: Shares of oil marketing companies (OMCs) fell last week
even as the oil PSUs resumed hiking petrol and diesel prices post the Karnataka elections
IOC fell 3 per cent in its five-day losing streak
HPCL declined 2 per cent while BPCL declined 3.35 per cent during the week, thanks to a surge in crude oil prices that hit $80 a barrel mark
last week.
Rain Industries: The stock fell 12 per cent during the week even as the company reported a 324 per cent YoY surge in consolidated
profit at Rs 251.16 crore for March quarter
The company in its press release said that during Q1CY18, it took a foreign exchange loss of Rs 21.2 crore compared with a gain of Rs 14.2
The stock nosedived 16 per cent to settle at Rs 274.65 on BSE
