Benchmark equity indices had a decent week as they posted more than 3 per cent gains each, helped by a rally in global markets as hopes of a US stimulus package ran high. Easing of movement restrictions in India amid the Covid-19 pandemic also lent some boost to the stock market.
Market barometers Sensex and Nifty rose 3.50 and 3.32 per cent, respectively, in the holiday-truncated week.
Of the BSE 500 pack, 392 stocks logged gains last week. The rally covered most sectors, with only BSE Oil & Gas index posting a decline. BSE Bankex was the top gainer, as it advanced 6.08 per cent.
The highlight of the week was volatile trading in recent debutants on the bourses — Chemcon Speciality Chemicals, Computer Age Management Services (CAMS) and Route Mobile.
Here are key stocks that saw significant movement during the last week:
PVR, Inox NSE 6.08 % Leisure: Multiplex operator PVR NSE 7.20 % jumped 18.13 per cent to Rs 1,300.50, while peer Inox Leisure soared 12.68 per cent to Rs 286.95, after MHA issued new guidelines for opening up of more activities outside containment zones from October 1, and permitted cinemas and theatres to open with 50 per cent capacity. Prior to MHA guidelines, the stocks also got a boost after West Bengal Chief Minister Mamata Banerjee also said last weekend that cinema halls and open-a ..
Vodafone Idea: Telecom operator Vodafone Idea’s shares shed 10.19 per cent to Rs 9.25. The stock has been reeling under pressure after Reliance Industries’ Jio announced postpaid plans, and as it has been losing subscriber base to the rival. Vodafone Idea NSE -3.14 % and Bharti Airtel lost about 48.2 lakh and 11.3 lakh users, respectively, in June, while rival Reliance Jio got a fresh boost of nearly 45 lakh customers, according to TRAI’s subscriber tally. At the AGM last week, the compan ..
BPCL: Bharat Petroleum Corporation Ltd (BPCL) tumbled nearly 6 per cent to Rs 353.3, as the government extended the deadline for submission of expression of interest (EoI) for selling its stake in the state-run oil marketing company by over a month to November 16. This is the fourth time that such an extension has been granted. Separately, Reuters reported oil majors Rosneft and Saudi Aramco are unlikely to bid in the privatisation of the Indian refiner
IndusInd Bank: Private lender IndusInd Bank jumped 15.02 per cent to Rs 592.20 as the top gainer among Sensex and Nifty constituents for the week, tracking the traction in the entire banking pack. Beaten-down valuations have led to the stock being attractive, dealers said. The stock is still down 60.8 per cent for the year-to-date.
Chemcon Speciality: On Thursday, Chemcon Speciality Chemicals debuted at 115 per cent premium at Rs 730.95, outperforming the recent stellar debut by Happiest Minds Technologies. The shares, however, hit lower circuit and fell 20 per cent from its opening level to close at Rs 584.80. Chemcon is still 72 per cent higher from its issue price of Rs 340.
CAMS: CAMS, the biggest IPO of FY21 so far, witnessed a listing pop of 23 per cent at Rs 1,518, from its issue price of Rs 1,230. The stock erased some gains and closed nearly 14 per cent higher from its issue price at Rs 1,401.60.
Route Mobile: Route Mobile shares dropped across all four sessions last week, and eroded 16.49 per cent to close the week at Rs 783.80, as traders locked in gains after the stellar run. Shares of the cloud communications platform service provider had more than doubled from its issue price of Rs 350 on their debut on bourses on September 21, scaling a record high of Rs 987.90 on September 25. The stock had been on an uptrend until last week, and is still up 124 per cent from the issue price.
Himatsingka Seide: Textile firm Himatsingka Seide was the top gainer in the BSE 500 pack, as it jumped 34.57 per cent to Rs 109. The reason for such a sharp rebound was, however, not clear. In August, the company had posted Rs 139.79 crore loss on a consolidated basis for the first-quarter of FY21 against the Rs 45.25 crore profit recorded in the same period last year.
Blue Dart Express: Logistics firm Blue Dart Express has been on an uptrend and hit a 52-week high of Rs 3,349.70 on October 1, buoyed by a rise in global freight rates. Also, earlier in September, the company announced a 9.6 per cent hike in its average shipment price from January.