BSE sensex: The week that was in 10 stocks: Broking stocks zoom up to 34%, Tata Motors bleeds
BSE Sensex was down 0.19 percent, while Nifty50 fell 0.2 percent for the week ended July 9. On the sector front, a mixed trend was witnessed wherein metals, realty, telecom closed higher, while auto, IT and oil & gas were laggards.
The rise in US bond yields and an uptick in Covid-19 cases of new variant dampened sentiments. The week also marked the beginning of the earnings season.
“With the beginning of the earnings season, we expect volatility to inch higher on the stock-specific front as well. Amid all, it is prudent to remain extra cautious in the selection of sectors and stocks for short-term trades and limit naked leveraged positions,” said Ajit Mishra, VP Research, Religare Broking.
“Investors, on the other hand, shouldn’t worry about the intermediate corrective phase and focus on the earnings season for cues,” he added.
In the BSE 500 index, 280 stocks ended the week on a positive note while the rest closed with cuts. Over two dozen counters registered double-digits gain during the week.
Here are 10 stocks that buzzed the most during the week:
Broking firms: Broking firms were back in focus as demat accounts at CDSL hit the 4 crore mark in June, underscoring the growing interest of retail investors in equities. Brokers like IIFL Securities surged 34 per cent to Rs 100.55. Dolat Investments gained 23 per cent to Rs 93.35, whereas
jumped 22 per cent to Rs 987.2 during the week.
Rain Industries: The coal producer has been on a roll, surging 23 per cent to Rs 235.3 during the week, due to the rise in its globally acclaimed product calcined petroleum coke (CPC) in the international metal market. Marquee investor Dolly Khanna trimmed her stake in the company during June 2021 quarter.
Kitex Garments: The world’s second largest manufacturer of kids apparel firm added 25 per cent to Rs 140.55 during the week. The government of Kerala has withdrawn showcause notices issued to the company on the minimum wage issue. Telangana government has extended an invitation to it for setting up an apparels unit in the state.
HFCL: Shares of the telecom gear manufacture surged 23 per cent to Rs 88.95 in the week gone by. The company is among the biggest beneficiaries of the PLI scheme of the central government. IO, a product by HFCL, has deployed a ‘PM-WANI Village’ network in the Baidebattu village in Karnataka. It will announce its results for the June 2021 quarter on 12 July.
Sobha: The Bengaluru-based reality firm gained 20 per cent to Rs 555.95 after the company provided an update on its June 2021 quarter performance. Sobha’s total sales value in Q1FY22 was up by 40 per cent to Rs 682.9 crore, as against total sales of Rs 487.7 crore in the same quarter previous year.
AU Small Finance Bank: Stock price of the lender went up by 15 per cent to Rs 1,195.7 during the week following the June 2021 quarter update. The numbers gave a relief to investors who were expecting the worst impact of the second wave on small finance lenders.
Shree Renuka Sugars: Investors booked profit in the sugar producer as the company became the most valuable sugar producing company in terms of market capitalization after its stock soared over 300 per cent during the past three months. The scrip tanked 14 per cent to Rs 37.1 in the week.
Reliance Communications: The Anil Ambani-led telecom firm tanked 14 per cent to Rs 3.14. The telecom operator has been on a downtrend since the Department of Telecommunications has refused to renew its licence unless it clears its statutory dues of Rs 26,000 crore.
Tata Motors: Jaguar Land Rover (JLR) Plc sharply cut its sales expectations for this quarter as the
unit battles an acute shortage of chipsets. The homegrown auto major shed 11 per cent to Rs 306.35 during the week.
NDMC: The state-owned miner declined 8 per cent to Rs 167.5 after the company’s offer for sale (OFS) kicked off. The Government of India offloaded 7.49 per cent stake in the company. The government held 68.29 per cent stake in NMDC as of 31 March 2021.
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