INSUBCONTINENT EXCLUSIVE:
NEW DELHI: This week gone by saw stock investors stay cautious about the spread of coronavirus, its impact on the global economy and crude
oil prices, and the fluctuating rupee-dollar exchange rate
For the week, BSE Sensex declined 87.62 points, or 0.21 per cent, to 41,170, while NSE barometer Nifty dropped 32.60 points, or 0.27 per
cent, to 12,080.
Strong moves were seen on select stock counters, be it Vodafone Idea, Muthoot Finance or Mishra Dhatu Nigam
Here is a compilation of stocks that created maximum buzz on Dalal Street through the week.
Vodafone Idea: The stock gained on hopes of a
possible government rescue plan for telecom players
Reports suggested that the government was working on all options, including deferring dues other than adjusted gross revenue (AGR)
liabilities to ensure that Vodafone Idea is not forced to shut shop
That made the stock rally 27.90 per cent for the week to Rs 4.40.
Muthoot Finance: Muthoot Finance surged 22.32 per cent to Rs 913 during
the week after the company reported a strong set of numbers for December quarter and raised up to $550 million by selling bonds to
The company reported a 66 per cent jump in December quarter consolidated profit at Rs 803 crore.
Shree Cement, YES Bank: The week saw the
announcement of Shree Cement entering the Nifty50 club replacing of YES Bank
Shares of YES Bank tumbled 8.86 per cent to Rs 35.50 while Shree Cement jumped nearly 4 per cent on Wednesday, but closed lower on the other
The stock ended the week almost flat at Rs 24,395.
Mishra Dhatu Nigam: This stock rallied 26.71 per cent for the week to Rs 228 on a bullish
The company believes same trend will continue next year with a marginal increase in defence proportion, Indsec Securities noted
The company is looking at Rs 900-1,000 crore order inflows every year, the brokerage noted.
Network 18, TV18, Hathway Cable - Datacom - Den
Networks: The four stocks hogged limelight last week after promoter Reliance Industries decided to merge all media and distribution
businesses under one umbrella brand 'Network18
Hathway Cable jumped 21 per cent, followed by Den Network (up 20.54 per cent), Network 18 media (5.47 per cent) and TV18 Broadcast (up 4.06
per cent).
LIC Housing, IDBI Bank: The two stocks were in news amid reports that LIC was looking to merge the two entities
However, LIC denied any such move
LIC Housing was hit hard on fears that the merger with a weak lender may distract a lot of management bandwidth from growth towards
IDBI Bank also denied the report, but the dent was already caused
Credit Suisse slashed its price target for LIC Housing by 36 per cent to Rs 320 from Rs 500 earlier
The scrip closed the week at Rs 364.60, down 11.52 per cent
IDBI Bank fell 2.4 per cent to Rs 34.60.
Aurobindo Pharma: The stock gained 16.54 per cent to Rs 599.60 after the pharma major received an
establishment inspection report from the US health regulator with voluntary action indicated (VAI) status for its Unit-IV facility in
USFDA had in November 2019 issued a Form 483 with 14 observations after the inspection of its Unit-IV, a general injectable formulation
manufacturing facility situated at Hyderabad.
Avenue Supermarts: The stock advanced 2.52 per cent for the week to Rs 2,461 as the company
revealed that it was looking to open stores in Delhi
Earlier in the week, the company concluded its OFS, where retail portion was subscribed almost fully on Monday.
Reliance Infrastructure: The
stock surged 19 per cent to Rs 23.30 after the firm reported an 18 per cent rise in consolidated net profit for the third quarter at Rs 345