Capping off a volatile week, domestic equity Indices finally closed with around 1.5 per cent gains, registering a positive close for the second consecutive week, largely on global cues and hopes of economic stimulus from the government.Nearly 400 of BSE500 stocks ended the week with gains.
Banks and construction companies were at the forefront of the rally after the government allowed certain activities to resume from April 20.The market shook off disappointing economic news in favour of the expectations that the process of economic recovery may begin soon, with the opening up of businesses and economies.
RBI measures to boost liquidity and reclassify NPA norms for commercial banks helped rate-sensitive stocks perform, said Vinod Nair, Head of Research at Geojit Financial Services.Here are stocks that buzzed throughout the week:NCC, NBCC (India) and Ashoka Buildcon: The three companies involved in construction projects were among the top gainers in the last week after the government allowed resumption of building and highway construction works from April 20 to gradually restart the engines of the economy.
NCC jumped 40.45 per cent to Rs 28 while NBCC gained 34 per cent to Rs 24.60.
The two were the top two gainers in the BSE500 index.
Ashoka Buildcon rose 29 per cent to Rs 64.85.Motherson Sumi: The auto parts maker was among the biggest gainers after the company said its factories in China had resumed operations at pre-coronavirus level.
The company also got board approval to raise Rs 500 crore through issue of securities.
The stock climbed 32 per cent to Rs 86.85.Vodafone Idea: Shares of the telecom services provider, which has been reeling under huge debts and sovereign liabilities, spiked 25 per cent to Rs 4.10 after reports that Vodafone Group, the British owner of the Indian arm, is likely to infuse capital in the company to help it wade through troubled waters.
However, the group denied any such plan.Oberoi Realty: The realtor saw heavy buying during the week after the company said it prepaid Rs 125 crore debt with interest amount before the due date.
The stock climbed 24 per cent to Rs 386.70 in four sessions.Shilpa Medicare: Shares of the drugmarker surged 21 per cent to Rs 378.95 after its UK subsidiary Koanaa Healthcare received UK MHRA approval for Imatinib oral solution, a cancer drug, last week.
Imatinib Oral Solution is expected to be available in the UK in the second quarter of 2020 and will be supplied from a UK based facility LM pharmaceuticals.
The drug is expected to have patent protection until 2038.Future Retail: Shares of Future Retail gained 21 per cent to Rs 81 after court orders that barred lenders from invoking pledged shares.
The Supreme Court refused to entertain pleas by UBS which wanted the apex court to intervene in the matter.
Bombay High Court had earlier restrained IDBI Trusteeship and others from selling pledged shares of shares in Future Retail.
Other stocks of Future Group also gained during the week.
Future Lifestyle and Future Consumer also added 21 per cent each to Rs 122.45 and Rs 7.28, respectively.IndusInd Bank: Shares of IndusInd Bank spiked 20 per cent to Rs 474.70 after Goldman Sachs Singapore Pte picked up shares worth over Rs 176 crore, through an open market transaction.
According to the bulk deal data it bought 14 lakh shares of the private lender, at an average price of Rs 430.3 apiece.Avenue Supermarts: Shares of the retailer fell 8.18 per cent to Rs 2,211 after the company informed that half of its shops had to be closed during the lockdown.
Footfalls are also significantly lower, Avenue Supermarts said in a regulatory filing, while adding that it is selling essential items such as grocery and FMCG products.