The week that was: Top 10 stocks that buzzed the most during the week

NEW DELHI: Most stock movements last week was due to the March quarter earnings announcement that is on full swing. Metals and banks dominated the proceedings while the momentum rally in some counters appeared to be far from over.

Steel manufacturers reported a record number of deliveries in Q4 with growth coming in from increased prices and elevated demand. Among the sectoral indices, the metal pack witnessed a phenomenal run of 10 per cent, while most others traded in tandem with the benchmark and ended with modest gains.

“This is a holiday-shortened week and participants will be eyeing macroeconomic data. Though we’ve not seen any major impact of the COVID second wave on markets yet, the news of strict lockdown in several states may deteriorate the sentiment ahead. Amid all, participants are keeping a close watch on the vaccine drive as well,” said Ajit Mishra, VP (Research), Religare Broking.

Here are key stocks that buzzed the most during the week:

Tata Chemicals: The stock was the biggest loser among BSE 500 stocks as its earnings performance was disappointing. The scrip ended the week down 14.25 per cent at Rs 680.

Tata Consumer Products: The newest Nifty entrant also disappointed Dalal Street with Q4 numbers and analysts said the stock looks set to underperform the market. Hence, the stock closed the week down 6.37 per cent at Rs 629.

VIP Industries: The luggage maker continues to underperform as the travel outlook is worsening day by day as the pandemic grips the nation tighter. The stock fell 3.27 per cent to close at Rs 333.30.

RIL: In the week following its earnings, Reliance Industries also disappointed investors. Analysts believe there are less chances of earnings upgrade for the company. The stock fell 3.17 per cent to Rs 1,931.30.

Gateway Distriparks: The logistics company is back in demand as the pandemic has worsened in India and most of the country is dealing with logistical challenges. The stock rose in anticipation of more business in an emerging scenario. It closed at Rs 258.55, up 26.80 per cent.

Tata Steel:

gained further 14.35 per cent to Rs 1,182.35 after performing much better than the Street expectations and earnings visibility for the next one year. Its Europe plant is expected to bolster its earnings going ahead.

SAIL, Nalco: Rising commodity prices is leading to sharp rallies in metal counters as investors expect another round of price hikes. SAIL added 20.76 per cent to Rs 144.25 and Nalco 17.39 per cent to Rs 75.95.

Tata Coffee: Prices swings for arabica coffee spiked near the year’s highest levels, spurred by supply uncertainty in top producers Brazil and Colombia and bullish tone across most major commodity markets. This led to a rise in Tata Coffee stock during the week. The counter advanced 17.02 per cent to Rs 153.

Balrampur Chini Mills: Shares of sugar companies have been on the rise as ethanol demand has surged. Sugar price has also been on the rise in international markets. The stock was among the best performing sugar stock recording a gain of 13.87 per cent to Rs 316.95.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button