INSUBCONTINENT EXCLUSIVE:
NEW DELHI: It was a week marked by high volatility as the May series futures options contracted expired
Equity benchmarks Sensex and Nifty50 ended the week up nearly 1 per cent despite falling in three out of five sessions, thanks to a big
Global concerns such as the US trade war and political unrest in Italy and Spain weighed on investor sentiment
Foreign outflows, too, were a cause of concern.
GDP growth print for March quarter came in at the highest level in seven quarters, and the
monsoon hit the Kerala coast early, creating some euphoria
But the setback for the ruling BJP in the by-elections and worries about RBI money policy review scheduled for next week weighed on market
sentiments.
For the week, the Sensex rose 302 points, or 0.87 per cent, to 35,227, while the Nifty50 gained 91 points, or 0.9 per cent, to
The week saw many largecaps limit losses despite negative news flow
Midcaps and smallcaps bore the brunt.
Here is a look at the stocks that hogged limelight during the week gone by:-
Manpasand Beverages:
'Manpasand' in Hindi means favourite
But this stock was among the most-hated stock last week
The scrip lost 53 per cent of its market value through the week for lack of clarity as to why its auditor Deloitte Haskins Sells India quit
a few days before the declaration of annual results.
HDFC Bank: This stock was in the limelight on anticipation of fresh FII buying worth up
to around $1 billion when Sebi opened a trading window for them for a day on June 1
The stock, however, did not see any such rally on Friday and settled 1.25 per cent lower for the day at Rs 2,109
Despite this, the scrip rose 4.9 per cent for the week.
Vedanta: This stock capped weekly losses at 1.5 per cent even as the Tamil Nadu
violent protests that left 13 people dead in police firing.
ICICI Bank: Shares of this lender fell 2.3 per cent for the week after the
Atlanta: This stock plunged 31 per cent last week after Price Waterhouse (PW), a network firm of PwC India, quit as auditor to BSE-listed
construction and infrastructure company
Atlanta apparently refused to share details of an ongoing income-tax investigation and the resignation of an independent director.
Reliance
Communication: Shares of Reliance Communications (RCom) were quite volatile during the week
The stock ended up rising 15.44 per cent for the week
RCom's tower arm reached a settlement with minority investors, including HSBC Daisy Investments, clearing the way for the sale of the
telco's towers and fibre assets to Reliance Jio.
Avenue Supermarts: The week saw promoter and ace investor Radhakishan Damani completing the
sale of 62.4 lakh shares of Avenue Supermarts
The shares sold constituted 1 per cent of the paidup equity share capital of the company, the company said in an exchange notice
Axis Capital arranged the transaction
Bajaj Auto, MM: These two auto sector stocks climbed on surge in May sales data
Bajaj Auto rose 4.9 per cent for the week as the two-wheeler maker posted a 30 per cent rise in total sales at 4,07,044 units in May against
3,13,756 units in year-ago period
Mahindra and Mahindra (MM), on the other hand, reported 12 per cent increase in total sales at 46,849 units in May.
Fortis Healthcare: The
stock rose in three out of five sessions
JM Financial Services, Singapore, Chairman Ravi Rajagopal has been appointed the chairman of the Fortis board, the company told stock
The development came as the board was expected to decide whether it would consider an expression of interest by KKR-backed Radiant Life Care
The stock was up half a per cent for the week.
