INSUBCONTINENT EXCLUSIVE:
Domestic institutional investors played ball and global indicators remained in good shape this week
The feel-good factor rubbed off on benchmark stock indices as both Sensex and Nifty settled at their highest weekly level in 12 weeks
For the week through April 27, the 30-share BSE Sensex pack rallied 554 points, or 1.61 per cent, to 34,970
The NSE Nifty50 index advanced 128 points, or 1.21 per cent, to settle at 10,692
The closing figures are the highest for both since February 2.
On the Nifty index, YES Bank, Mahindra Mahindra, RIL, Axis Bank and Adani
Ports rose up to 13 per cent
Bharti Infratel, Tech Mahindra, Vedanta, Wipro and Hindalco slipped 3-10 per cent during April 20-27.
Here's a lowdown on top stocks and
sectors that buzzed the whole week.
PC Jeweller: This stock saw an erosion of nearly 40 per cent of investor wealth in the past five trading
PC Jeweller plunged to Rs 177.90 on April 27, from Rs 295.50 on April 20
shares of the company in the recent past
However, we would like to once again assure our investors, shareholders and other stakeholders that the fundamentals of the company remain
management control and growth strategy of the company and also there is no change in the company's operating effectiveness
Services: TCS on Monday became the first Indian IT company to hit the $100 billion mark in terms of market capitalisation
The stock rallied 1.42 per cent during April 20-27.Zenith Exports: Microcap company Zenith Exports hit upper circuit for the 14th straight
session on Friday, soaring a princely 239 per cent during April 9-27
However, the scrip jumped 27 per cent last week to Rs 132.10 on Friday, from Rs 103.60 on April 20.
Axis Bank: Private lender Axis Bank on
Thursday reported its first-ever loss since listing at Rs 2,188.74 crore for January-March 2018
The bank, which was listed on the exchanges in 1998, had posted a profit of Rs 1,225.10 crore in the same quarter last year
However, share price surged 9 per cent on Friday to Rs 538.90 on early recognition of bad loans
The Shikha Sharma-led bank saw its provisions and contingencies spiking nearly three-fold to Rs 7,179.53 crore in the fourth quarter as
against Rs 2,581.25 crore last year
InterGlobe Aviation (IndiGo) tumbled over 6 per cent on Friday despite robust market sentiment
Later, in a surprise development post market hours, IndiGo announced that Aditya Ghosh will step down as president and is likely to be
replaced by one of its former executives, Gregory Taylor.
Bharti Airtel: For the week ended April 27, stock of the telecom major advanced
over 2 per cent even as the company posted its lowest quarterly profit in nearly 15 years
However, Q4 earnings stood far ahead of analyst estimates
Airtel registered a consolidated net profit of Rs 83 crore in January-March against Rs 373 crore in the year-ago period
Earnings of Bharti Airtel were a surprise even as its India business floundered, according to global brokerage firm Nomura
(12.63 per cent) and Housing Development and Infrastructure (12 per cent) were among top losers on the BSE 500 index during the week gone
by.
Top gainers: Astra Microwave (up 26 per cent), Zensar Technologies (23 per cent), Indiabulls Ventures (18 per cent), ICICI Prudential
Life Insurance (15 per cent) and NIIT Technologies (14.72 per cent) were on the top gainers list on the BSE 500 index.
Jute stocks make a
splash: The government on Wednesday increased the minimum support price (MSP) of raw jute by Rs 200 per quintal to Rs 3,700 for the 2018-19
Shares of the jute companies Ludlow Jute firmed up 1.50 per cent to Rs 90 for the week ended April 27
GATI: The scrip climbed 13 per cent to Rs 113.40 on April 27, from Rs 100.40 on April 20
During the week, the board advised management to look for inducting a new strategic and/or financial partner to reposition the company as a
global leader in the logistics space.
YES Bank: Shares of YES Bank rallied over 12 per cent during the week
The private lender on Thursday logged a 29 per cent rise in the March quarter net at Rs 1,179 crore, bolstered by high loan growth and a dip
in dud loans, which boosted its core interest income
However, the stock closed 1 per cent down at Rs 348.45 on Friday.
