Weekly Roundup: Look who gained and who cracked on D-St last week
During the week, Indiabulls Housing Finance and CIL gained 7.26% and 6.85%, respectively.
Meanwhile, India Meteorological Department (IMD) said cumulative area-weighted rainfall for the country as a whole till September 5, 2017 was 5 per cent below normal, which weighed on sentiment. The quantum of the rainfall and its spatial and temporal distribution are critical for the country's agriculture output. Around 70 per cent of the country's farmlands is rain-fed.
For the week ended September 8, 2017, Indiabulls Housing Finance, Coal India, Vedanta, UltraTech Cement and Larsen & Toubro added 7.26 per cent, 6.85 per cent, 4.81 per cent, 3.62 per cent and 2.91 per cent.
On the other hand, Tata Motors DVR, Bharti Airtel, BPCL, IOC and Tata Motors skidded 6.41 per cent, 4.51 per cent, 4.48 per cent, 4.27 per cent and 4.04 per cent, respectively, in the Nifty50 index.
Sanjeev Zarbade, Vice President - PCG Research, Kotak Securities said, “Global markets closed on a weak note this week on the back of geopolitical concerns post testing of hydrogen bomb by North Korea. FPIs offloaded $415 mn worth of equities while DIIs bought $269 mn in the cash segment over the past five trading sessions. Although the valuations are not cheap but the domestic demand for investments remains high.”
Several IPOs are lined up for next week. Initial public offering (IPO) of Matrimony.com will open on September 11 and will close on September 13. Capacit’e Infraprojects will hit the market on September 13.
Here is a look at sectors and stocks that hogged limelight during the week gone by:
Shares of Apex Frozen Foods that deals in aquaculture products made a smart stock market debut on bourses on Monday. The stock debuted at Rs 199.90, up 14.22 per cent from the issue price on BSE. The stock settled at Rs 254.95 on September 8.
On a high!
Shares of Avenue Supermarts, the parent of hypermarket chain D-Mart, scaled a fresh record high of Rs 1103.85 on September 6, 2017. Recently, it hit a milestone by crossing the Rs 60,000 crore m-cap. However, the stock settled at Rs 1,068 apiece, down 0.55 per cent on BSE on Friday..
Block deal in search engine
Shares of Just Dial hogged limelight on Wednesday after HDFC Mutual Fund purchased bulk shares of the company via bulk deal mechanism on the National Stock Exchange of India (NSE) on Tuesday. The NSE bulk deal data shows that HDFC Mutual Fund bought 32,06,663 shares of Just Dial on Tuesday at a price of Rs 375. However, shares of the company fell to Rs 378.45 on September 8 from Rs 398.95 on September 1.
At years’ high
Shares of non-banking financial company Bharat Financial Inclusion hit their highest level since November 2010. On Tuesday, the Reserve Bank of India (RBI) restricted foreign investors from buying more shares in the company after the allowed investment limit reached the ceiling. For the week ended September 9, 2017, shares of the company gained 3 per cent to Rs 935.95 from Rs 905.70 on September 1, 2017.
ITC smoked out!
Global brokerage firm Macquarie downgraded ITC stock to neutral citing fall in cigarette volumes. Shares price of the company declined 4 per cent to Rs 272.45 on September 8, 2017 from Rs 283.60 on September 1, 2017.
Metals keep shining
Sustained buying in metal stocks helped Nifty Metal index to scale fresh all-time high of 3702.80 on September 8, 2017. During the week, National Aluminium soared 8.4 per cent, followed by Coal India (up 6.8 per cent), Vedanta (up 4.70 per cent) and MOIL (up 4.70 per cent).
CLSA note fires up Indiabulls Housing
Global brokerage firm CLSA raised the target price of Indiabulls Housing Finance to Rs 1,500 from Rs 1,380. The brokerage expects the company to see 30 per cent compounded annual growth rate (CAGR) in housing loan assets and 25 per cent growth in earnings over FY17-20. In addition, it has maintained a ‘buy’ rating on the stock. The scrip jumped over 7 per cent to Rs 1311.65 on Friday from 1220.35 on September 1, 2017.
More than 10 per cent of the stock in BSE500 index hit their fresh record high during the week gone by. The list includes stocks such as Ashok Leyland, Blue Star, Tata Global, Maruti Suzuki, Bajaj Finserv, Indiabulls Housing, CESC, Century Textiles, Dewan Housing Finance, Trident and Reliance Industries.
Eclipse on Sun TV
Shares of Sun TV came into news amid reports that a CBI court will frame charges against the Maran brothers in connection with the ‘illegal’ telephone exchange case on October 3. However, the share price of the company advanced 5 per cent to Rs 806.90 on Friday against Rs 767.95 on September 1.
Dr Reddy’s catches cold
Shares of Dr Reddy’s Laboratories slipped over 2 per cent on Friday after the drugmaker informed bourses that the company has received six major observations on its formulating manufacturing facility in Visakhapatnam. The company said that the auditor has cautioned the company that it will receive a EU-GMP certification from the regulator by November 2018 only when the regulator approves the corrective and preventive action plan (Capa) of the company.