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3 firms made D-St debut this week; 40 stocks hit fresh all-time highs

NEW DELHI: Benchmark equity indices BSE Sensex and NSE Nifty settled the week on a mixed note. For the week ended November 17, the 30-share Sensex advanced 0.08 per cent to 33,342.80, while the 50-share Nifty index closed 0.37 per cent down at 10,283.60.

Markets witnessed some selling pressure during the first three trading session last week after hopes of rate cut by RBI dashed after inflation figures picked up in October. Later, value buying and Moody’s rating upgrade on India capped the downfall during the last two trading sessions.

With gains of over 3 per cent, Reliance Industries stood among top gainers in Nifty50 index, followed by Kotak Mahindra Bank (up 3 per cent), Bajaj Finance (up 2.43 per cent), ICICI Bank (up 2.07 per cent) and Maruti Suzuki (up 2.01 per cent).

On the other hand, Bharti Infratel, Bosch, Adani Ports, ONGC and Vedanta slipped between 5-11 per cent during November 10-17.

Below is the list of stocks and sectors that made news last week:

Infra stocks: International rating agency Moody’s Investors Service on Friday upgraded couple of infrastructure companies including NTPC, NHPC and GAIL. “The upgrade in ratings for NTPC, NHPC, NHAI and GAIL follows the upgrade of the Indian sovereign rating and reflects the strategic importance of these entities to the country, as well as their close operational and financial links with the government,” says Abhishek Tyagi, a Moody's Vice President and Senior Analyst in a release.

Nifty Bank touching sky: Nifty Bank index on the National Stock Exchange scaled fresh all-time high of 25924.90 on November 17, 2017. Banking stocks on the Dalal Street are hogging limelight since the government has announced the recapitalsaion plan for lenders. For the week ended November 17, Bank of Baroda surged 8 per cent, followed by Kotak Mahindra Bank (up 3 per cent), ICICI Bank (up 2 per cent) and State Bank of India (1.18 per cent).

At all-time highs: Despite a volatile week for domestic equity indices, as many as 40 stocks in the BSE 500 index hit their fresh record high during the week. The list includes stocks such as Tata Global, Eveready Industries, Voltas, 3M India, Solar Industries, Page Industries, Balkrishna Industries, VIP Industries, DCM Shriram, Britannia Industries, EID Parry, Finolex Cables and HSIL.

Reliance Communications: Shares of debt-laden Reliance Communications hit their fresh all-time low of Rs 9.60 on November 15. For the week ended November 17, shares of the company tanked 14 per cent to Rs 12.10 from Rs 14.05 on November 10, 2017. The scrip came under pressure after the company on November 11 reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017. It had registered a profit of Rs 62 crore in the same period a year ago.

HDFC Standard Life: HDFC Standard Life Insurance Company made a smart debut on the bourses today, surging nearly 19 per cent over the issue price of Rs 290. The company’s stock listed at Rs 311, up 7.24 per cent from the issue price on BSE. In intra-day trade, it jumped 27.24 per cent to Rs 369. It closed the session at Rs 344.25, up 18.70 per cent. On NSE, the stock closed with a sharp gain of 18.82 per cent at Rs 344.60.

Tyre stocks: Most of the tyre stocks closed the week in green on account of falling rubber prices in the international markets. Balkrishna Industries spurted 8.49 per cent during the past five trading sessions, followed by TVS Srichakra (up 7.93 per cent), MRF (up 3.26 per cent), Goodyear India (up 3.22 per cent) and Ceat (up 2.21 per cent).

Jaiprakash Associates: Shares of the company were in the radar of market participants after the Supreme Court on November 13 directed the non-institutional directors of infrastucture firm to appear in person before it next week and furnish details of their personal assets. The company on November 14 also posted standalone net loss of Rs 186.48 crore for the quarter ended September on lower income. Its net loss stood at Rs 781.20 crore in the year-ago period. However, shares of the advanced marginally to 1.91 per cent to Rs 18.65 on November 17 from Rs 18.30 on November 10.

New India Assurance Company: Shares of the company made a sluggish debut at bourses on Monday and ended with a sharp loss of more than 9 per cent against the issue price of Rs 800. The stock listed at Rs 748.90, down 6.38 per cent, compared to the issue price on the BSE. The scrip settled at Rs 675.50 on Friday.

Khadim India: Shares of footwear major Khadim India closed over 8 per cent lower than its issue price on the first day of listing on the bourses on November 14. It made a lackluster debut on the exchanges, opening at Rs 727 on the BSE and at Rs 730 on the NSE, down from its issue price of Rs 750. The scrip closed at Rs 669.75 on BSE and at Rs 665 on NSE.
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