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The Week That Was in 10 Stocks: Voda Idea rebounds, ITI slides; YES Bank inches up

The scrip made a strong comeback, rallying 34.15 per cent to Rs 6.10 during the week.

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Last Updated: Jan 26, 2020, 12.30 PM IST
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NEW DELHI: Weakness in index heavyweights and lack of cues from global markets weighed heavy on benchmark indices, as they fell 0.8 per cent last week. BSE Sensex lost 332.18 points, or 0.79 per cent, to settle the week at 41,613.19. NSE's Nifty declined 104.10 points, or 0.84 per cent, for the week to 12,248.25.

Here are a few stocks which buzzed the most during the week:

Vodafone Idea: The scrip made a strong comeback, rallying 34.15 per cent to Rs 6.10 after the operator informed the DoT it will wait for Supreme Court’s decision on the adjusted gross revenue (AGR) modification pleas. This meant that the company did not make any payments to the government by the January 23 deadline. Supreme Court will look into the modification petitions next week.

Spencer's Retail: This stock caught investors' fancy after December quarter shareholding revealed that ace investor and D-Mart promoter Radhakishan Damani bought 16.61 lakh shares in the company during the quarter ended December 31. Damani held 2.09 per cent stake in the company as on December 31. The stock was up 24.67 per cent for the week at Rs 94.50.

ITI: The state-run stock slid 11.73 per cent for the week to Rs 91.10 after the company announced its Rs 1,400 crore follow-on public offer (FPO). On Friday, Day 1, the FPO received bids for 1,01,27,550 shares compared with 18,18,00,000 equity shares. The price band of the issue is set at Rs 72-77.

AU Small Finance Bank: The stock soared 22.26 per cent for the week to Rs 1,073.20 after quarterly profit doubled to Rs 90 crore due to a surge in micro lending despite slowing customer acquisition in Assam and in coastal Karnataka where the SFB faced repayment issues. Net interest income, the difference between what it earned from lending and what it paid for funds, rose 52 per cent, the bank said.

Oil India: This stock fell 9.25 per cent to Rs 142.20 as the company got a notice of Rs 48,000 crore including licence fee, penalties and interest for the period from FY2008 to FY19 by the Department of Telecommunication (DoT). The company has filed a modificatory petition before the SC explaining the non-applicability of interpretation of adjusted gross revenue (AGR) to non telecom companies.

Can Fin Homes: Can Fin Homes climbed 21.7 per cent to Rs 473.10 after the housing lender reported a 41 per cent growth in profit after tax in the third quarter, driven by expansion in margins and stable asset quality. The company reported a profit of Rs 107 crore compared with Rs 76 crore last fiscal.

PNB Housing Finance: The scrip fell 8.99 per cent to Rs 482.60 after the company reported a 22 per cent drop in profit at Rs 237 crore for the December quarter amid lower credit growth, despite easing interest rate cycle and adequate liquidity.

Westlife Development: The owner of master franchisee of McDonald's restaurants in West and South India gained 16.89 per cent to Rs 441.20 after the company reported over threefold jump in profit for the third quarter. The company's scrip climbed 6.43 per cent to Rs 448.40 on BSE.

Srei Infra: Srei Infrastructure Finance advanced 14.53 per cent to Rs 10.60 after the company said it plans to raise up to Rs 2,000 crore via NCDs and another Rs 1,000 crore in commercial papers in fiscal 2020-21. The proposals will be placed before its board for approval on February 14.

YES Bank: The bank stock gained 8.92 per cent to Rs 42.80 after State Bank of India Chairman Rajnish Kumar said that the private bank would not be allowed to fail. Kumar said he's certain that "some solutions will emerge" to steady YES Bank, which has been on a prolonged quest to raise new capital.

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