The week that was in 10 stocks: YES Bank, Khadim on a high; Zee, HCL Tech, Wipro big losers
As many as 13 stocks on the BSE500 hit their fresh all-time highs during the week.
Below are the top stocks and sectors that created buzz on Dalal Street through the week.
YES Bank creates ripples
YES Bank advanced over 13 per cent for the week amid stake sale rumours in the market. The first report stated that digital payments major Paytm was in talks to buy a stake in the private sector lender from co-founder Rana Kapoor. A Reuters report quoting the bank’s Chief Executive Officer Ravneet Gill, however, said the bank was close to securing a deal to sell a minority stake to a global technology company to help boost its capital. However, YES Bank in a BSE filing called the Reuters report speculative.
Nifty top gainers: BPCL, Tata Motors, SBI
BPCL (up 8 per cent), Tata Motors (up 7 per cent), SBI (up 6 per cent) and Hindalco (up 6 per cent) were among other top gainers in Nifty index for the week.
Nifty top losers: Zee, HCL Tech, Wipro
With a drop of 2.93 per cent, Zee Entertainment emerged as top loser in the 50-share pack. It was followed by HCL Technologies (2.93 per cent), Wipro (down 2.60 per cent) and Tata Consultancy Services (down 2.56 per cent).
Most of the Information Technology (IT) stocks came under pressure as rupee strengthened against the dollar during the week. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a major share of revenue from exports. Besides, Azim Premji, founder of Wipro, and his other group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month. Wipro had bought back 32.3 crore equity shares at Rs 325 a share.
Stocks that rallied up to 57%
As many as 49 stocks on the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. They included ITDC (up 57 per cent), Jindal Stainless (Hisar) (32 per cent), Wockhardt (32 per cent), MMTC (27 per cent) and Meghmani Organics (21 per cent). Coffee Day Enterprises, Shankara Building Products, Deepak Fertilisers and Hindustan Copper also advanced over 15 per cent.
Scrips that cracked
Just four counters on the BSE500 plunged in double digits during the week. Somany Ceramics retreated nearly 27 per cent, followed by Eveready Industries (down 18 per cent), Hathway Cable (down 12 per cent) and Indian Energy Exchange (down 11.54 per cent).
Stocks @fresh all-time highs
As many as 13 stocks on the BSE500 hit their fresh all-time highs during the week. They included Dr Lal Pathlabs, PI Industries, JB Chemicals, HDFC AMC, InterGlobe Aviation, Apollo Hospitals, Bata India, Vinatic Organics, Honeywell Automation, Zydus Wellness, Relaxo Footwears, CreditAccess Grameen and Abott India.
Scrips at fresh lifetime lows
In the BSE500 index, shares of Indian Energy Exchange, United Bank of India and Reliance Communications touched new all-time lows during the week.
Sectoral leaders & laggards
Barring the BSE IT index (down 1.75 per cent) and FMCG (down 0.09 per cent), other sectoral indices ended the week in green. Realty, Metal, Auto, Consumer Durables, Capital Goods and Oil & Gas indices and Bankex gained between 2 per cent and 6 per cent. Most of the automobile stocks gained on hopes of GST rate cut after Finance Minister Nirmala Sitharaman said the government was looking at steps to revive the ailing sector. She said that the government is aware of the need to respond to the troubles in the auto sector.
Walchandnagar climbs 36%
Shares of smallcap firm Walchandnagar Industries advanced 36 per cent to Rs 77 on September 13 from Rs 56.30. The company on Thursday informed bourses that it had secured an order worth Rs 77.20 crore plus escalation from Vikram Sarabhai Space Centre of Isro. The order is towards manufacturing and supply of Head, Middle and Nozzle End segments (total 30 nos) for the GSLV M KIII launch vehicle.
Mid, smallcaps on a high
The BSE Midcap (up 2.25 per cent) and Smallcap index (up 3.32 per cent) outperformed the benchmark equity index BSE Sensex. Dalal Street’s biggest bull, Rakesh Jhunjhunwala, has already turned bullish. “Indicators are suggesting that stocks have bottomed out, particularly midcaps, and this is a good time to invest,” he told a TV channel on Thursday.
Khadim spikes 47%
Shares of Khadim India rallied 46.58 per cent to Rs 269.70 during the week. The footwear firm got traction after it informed bourses that it has incorporated a wholly owned subsidiary in Bangladesh in the name of ‘Khadim Shoe Bangladesh’.