Buzzing stocks: The week that was in 10 stocks: IDBI Bank, Tata Power surge; auto stocks among biggest losers
Among sectors, BSE IT Index gained 3.3 per cent followed by BSE Capital Goods which rose 1.6 per cent. Auto stocks have been one of the major losers last week with Hero Motocorp, Bajaj Auto and Tata Motors amongst the biggest losers.
“The market will be keenly focusing on the upcoming Fed policy meeting scheduled to be held during March 16-17. The market is waiting for a confirmation from the Fed that an accommodative stance will be maintained even during an elevated inflation forecast,” said Vinod Nair, Head of Research at Geojit Financial Services.
Here are 10 stocks that buzzed during the last week:
: Shares of Tata Power climbed 5.55 per cent to Rs 113.25 after reports said Tesla is exploring an arrangement with Tata Power to set up charging infrastructure for electric vehicles in the country. Tesla is set to launch its cards in India later this year.
IDBI Bank: Shares of the bank ran up 15.70 per cent during the week to Rs 42 after RBI removed the lender from its enhanced regulatory supervision or Prompt Corrective Action (PCA) framework after a gap of nearly four years.
ONGC, Oil India, GAIL & Indian Oil: Oil stocks were in the spotlight last week as crude prices surged past $70 per barrel and oil marketing companies decided against any more price hikes in March. After much up and down, ONGC closed up 0.13 per cent at Rs 115.05. Oil India added 3.50 per cent to Rs 131.75. GAIL fell 0.20 per cent and Indian Oil declined 0.15 per cent to Rs 101.25.
BPCL: Shares of
fell 0.89 per cent amid reports that the state-owned company was looking to sell up to 8.68 crore shares, or 4 per cent of the company equity, through a block deal on Tuesday. The company, according to bankers, had set a floor price of Rs 435 per share.
Ambuja Cements: Shares of the cement maker advanced 1.7 per cent to Rs 289.55 during the week as Morgan Stanley maintained overweight on the scrip with target at Rs 360.
Wipro:
shares were in the limelight during the week after the IT services giant decided to buy UK-based Capco for $1.45 billion. The deal size is nearly two times Capco’s FY20 revenues of $720 million. The stocks ended the week up 1.09 per cent at Rs 425.
IndiGo: Shares of low-cost carrier Interglobe Aviation declined 4.5 per cent to Rs 1,663.90 after India reported a surge in Covid cases. Thanks to the second wave of the Covid, many parts of India are now under a lockdown.
