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The week that was in 10 stocks: DHFL, LVB take big hit; 6 BSE500 stocks hit new highs

Below are the top stocks and sectors that buzzed through the week.

Oct 13, 2019, 09.51 AM IST
Benchmark equity indices Sensex and Nifty ended the truncated week on a positive note following Union Finance Minister Nirmala Sitharaman's statement that the government has been offering sector-specific solutions to fight the economic slowdown and amid signs of easing of the trade war between the US and China.

The 30-share Sensex advanced 1.20 per cent, or 454 points, to 38,127 for the week ended October 11, while the 50-share Nifty gained 1.17 per cent, or 130 points, to 11,305.

Sanjeev Zarbade, VP PCG Research, Kotak Securities said, “Sensex closed in the green for the week on the back of hopes of a breakthrough in the US-China trade deal and expected government measures to revive credit growth before the festive season.”

Below are the top stocks and sectors that buzzed through the week.

Stocks that climbed
As many as eight stocks in the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. These were -- Adani Green Energy (up 21 per cent), Bandhan Bank (20 per cent), Vodafone Idea (19 per cent), Gruh Finance (13 per cent), Bharti Airtel (13 per cent), Berger Paints (12 per cent), Rail Vikas Nigam (12 per cent) and Delta Corp (11 per cent).

Scrips that cracked
Eighteen stocks from the BSE500 universe plunged in double digits during the week. DHFL retreated the most with 32 per cent, followed by Aurobindo Pharma (23 per cent), Reliance Capital (22 per cent), Jain Irrigation (20 per cent) and Indiabulls Integrated Services (18 per cent). Lakshmi Vilas Bank, Edelweiss Financial Services, Reliance Infrastructure, Piramal Enterprises, Indiabulls Housing Finance, Reliance Power and SREI Infrastructure Finance were among other firms that fell over 10 per cent during the week.

Stocks @fresh all-time highs
Just six stock in the BSE500 index hit their fresh all-time highs during the week. These included Adani Green Energy, Berger Paints, Indraprastha Gas, Rites, Siemens and Whirlpool of India.

Scrips @fresh life lows
In the BSE500 index, shares of Indostar Capital Finance, The New India Assurance, PNB Housing Finance, Coffee Day Enterprises, Reliance Power, Lakshmi Vilas Bank, Bank of Maharashtra, Reliance Infra, Reliance Capital and United Bank of India touched new all-time lows.

Sectoral update
The BSE Telecom index rallied over 10 per cent to 990 on October 11 from 899 on October 4. Shares of Bharti Airtel and Vodafone Idea jumped in double-digits last week on hopes of an end to the price wars that have plagued them for more than three years now. The rise in stock came after Reliance Jio announced it will begin charging for voice calls made to subscribers of other telcos to account for the termination charges it pays its rivals. BSE Metal and TECk indices and the Bankex gained over 1 per cent each, while the Oil & Gas and PSU indices slipped 1.34 per cent and 1.20 per cent, respectively.

IPO update
State-owned Indian Renewable Energy Development Agency (IREDA) and Kolkata-based firm Shyam Steel Industries have received markets regulator Sebi’s approval to float initial public offerings. In another update, shares of Indian Railway Catering and Tourism Corporation (IRCTC) will list on bourses on Monday after its IPO received the highest ever subscription among PSUs.

Tata Consultancy Services
Country's largest IT services firm Tata Consultancy Services (TCS) on Thursday posted 1.80 per cent year-on-year rise in consolidated net profit at Rs 8,042 crore for the quarter ended September 30, 2019. The company had posted a net profit of Rs 7,901 crore in the corresponding quarter last year. Shares of TCS declined 4.41 per cent to Rs 1,987.1 on October 11 from Rs 2,078.7 on October 4.

Infosys earnings
Shares of Infosys gained over 4 per cent on Friday ahead of its quarterly results later in the day. The IT services company Infosys said its consolidated net profit has declined by 2.2 per cent at Rs 4,019 crore for the July-September 2019 quarter. This is against a net profit of Rs 4,110 crore in the same period last fiscal. The Bengaluru-based company saw its revenue increase by 9.8 per cent to Rs 22,629 crore in the quarter under review from Rs 20,609 crore in the year-ago period. The scrip advanced 2.83 per cent for the week ended October 11.

IB Housing Finance and Lakshmi Vilas Bank
Shares of Indiabulls Housing Finance and Lakshmi Vilas Bank cracked up to 18 per cent during the week amid the Reserve Bank rejected the proposed merger between the two financial firms. "...this is to inform that RBI vide their letter dated October 9, 2019, informed that the application for voluntary amalgamation of lndiabulls Housing Finance Limited and lndiabulls Commercial Credit Limited with the Lakshmi Vilas Bank (LVB) cannot be approved," the bank said in a stock exchange filing.

IndusInd Bank
Shares of IndusInd Bank declined 3.22 per cent to Rs 1,223.30 on October 11 from Rs 1,264 on October 4. The private sector lender on Thursday reported a 52 per cent growth in September quarter net income at Rs 1,401 crore on steady performance on core income and lower base in the year-ago period.

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