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The week that was in 10 stocks: Infy, Bharti Infra top Nifty losers & stocks that rallied up to 42%

Below are the top stocks and sectors that buzzed through the week.

, ETMarkets.com|
Oct 27, 2019, 11.46 AM IST
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Equity benchmarks Sensex and Nifty lost more than half a per cent during the week ended October 25 as the market witnessed some selling pressure, mainly due to weakness on the IT counter amid mixed earnings and the Infosys whistleblower crisis.

The 30-share Sensex lost 240 points to settle the week at 39,058 against 39,298 on October 18, while the 50-share Nifty fell 78 points to 11,583.

“The market remained volatile in the holiday-shortened week. The Q2 earnings numbers showed hits and misses but expectation for an earnings improvement from next quarter based on corporate tax cuts held investor nerves steady. Concerns over the Infosys whistleblower crisis impacted the stock and the overall IT sector,” Geojit Financial Services said in a note.

Below are the top stocks and sectors that buzzed through the week.

State Bank of India
Shares of State Bank of India shares climbed 7.19 per cent on Friday after the company reported a nearly six-fold jump in consolidated net profit for September quarter. Consolidated profit zoomed to Rs 3,375.40 crore in Q2FY20 from Rs 576.46 crore in the year-ago period. Shares of the PSU lender gained 4.43 per cent for the week.

Telecom index tanked

Sector-wise, BSE Telecom index retreated the most at 7 per cent during the week. It was followed by Teck (down 5.93 per cent), IT (down 5.69 per cent) and Metal (down 2 per cent) indices. However, BSE Healthcare index, Bankex and Consumer Durables and Realty indices gained between 0.88 and 2.08 per cent. The telecom counter took a hit after the Supreme Court allowed the Centre’s plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from the telecom service providers.

Infy, Bharti Infra Nifty top losers
Bharti Infratel and Infosys tanked nearly 17 per cent each during the week. It was followed by Tata Motors (down 7.3 per cent), Adani Ports (down 5.36 per cent), IndusInd Bank (down 5.26 per cent) and GAIL (down 5 per cent). Infosys took a hit after a letter by anonymous employees surfaced, accusing Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of unethical practices for several quarters.

Ujjivan Small Bank IPO okayed
Ujjivan Small Finance Bank has received markets regulator Sebi’s go ahead to raise Rs 1,200 crore through an initial public offer (IPO). Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank. Shares of Ujjivan Financial Services slid 9.15 per cent to Rs 278.40 on October 25 from Rs 306.50 on October 18.

Stocks that rallied up to 42 per cent
As many as 22 stocks in the BSE500 index delivered over 10 per cent returns to investors during the week. They included Reliance Power (up 42 per cent), Reliance Infrastructure (33 per cent), Granules India (23 per cent), Shankara Building (21 per cent) and Eveready Industries (20 per cent). IRB Infrastructure, ICICI Securities, Castrol, Coromandel International and Shipping Corporation of India advanced between 13 and 19 per cent.

Scrips that melted up to 35%
As many as 21 stocks on the BSE500 plunged in double digits during the week. Vodafone Idea lost 36 per cent, followed by Dish TV (30 per cent), Dishman Carbogen (26 per cent), Indiabulls Housing Finance (20 per cent) and Indiabulls Integrated Services (18 per cent). DHFL, The Lakshmi Vilas Bank, Bharti Infratel, Infosys and Sterlite Technologies were among other stocks that fell over 10 per cent.

Scrips at fresh lifetime lows/highs
In the BSE500 index, Polycab India, HDFC AMC, Orient Electric, Reliance Nippon, MAS Financial Services, ICICI Lombard General Insurance, Adani Transmission, PI Industries and Gillette India were among 34 firms that hit new all-time highs. On the other hand, Dishman Carbogen, Coffee Day, Tejas Networks, The Lakshmi Vilas Bank, Dish TV, and Vodafone Idea hit new all-time lows.

Smallcaps outperform
With a gain of marginal 0.20 per cent, the BSE Smallcap index outpaced Sensex (down 0.61 per cent) and BSE Midcap index (down 0.54 per cent) during the week. Reliance Power (up 42 per cent), Reliance Infra (up 33 per cent), Prozone Intu Properties (up 26 per cent), GVK Power (up 23 per cent), Granules India (up 22 per cent) and Shankara Building Products (up 22 per cent) emerged top gainers in the index.

Nifty top gainers
With a gain of 7 per cent, ICICI Bank emerged top gainer in the Nifty pack for the week. Eicher Motors (up 5 per cent), State Bank of India (up 4.41 per cent) and Sun Pharma (up 4 per cent) were among other top gainers in the 50-share pack.

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