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    The week in 10 stocks: Stocks that surged up to 23%, IPO update plus fresh all-time highs

    Synopsis

    Take a look at top stocks and sectors that kept investors glued to their seats the whole week.

    Rise-gain-4---GettyGetty Images
    Shares of NBCC rallied 15 per cent during the week after the state-owned firm said it has secured an order worth Rs 700 crore from Raipur SMART City.
    The best weekly show since November 30 -- That sums up the new-found vigour of the stock market.

    Picking up from where they left off, Indian stocks saw a terrific week as benchmarks BSE Sensex and NSE Nifty settled with a weekly gain of over 3.50 per cent.

    Positive global cues only made the climb easier.

    The bulls took charge as foreign institutional investors kept the funds flowing into India. Rupee's rising trajectory and expectations of Prime Minister Narendra Modi taking power again kept the pitch conducive to more upside.

    Numbers tell the story. The BSE Sensex advanced a whopping 1,353 points to 38,024 during the past five trading sessions. The broader NSE Nifty rose 391 points, or 3.55 per cent, to 11,427.

    Foreign portfolio investors bought shares worth Rs 12,298 crore during the week while domestic institutional investors offloaded equities worth Rs 7,402.30 crore.

    Overall, market capitalisation of BSE-listed firms soared by Rs 3.95 lakh crore in the five sessions to Rs 148.62 lakh crore, from Rs 144.67 crore on March 8.

    So, what are the top stocks and sectors that kept investors glued to their seats the whole week. Here we go.

    The return gift
    As many as 32 stocks on the BSE500 managed to deliver over 10 per cent returns during the week gone by. The list featured stocks such as Himatsingka Seide (up 23 per cent), CG Power (21 per cent), Manpasand Beverages (18.55 per cent), Dilip Buildcon (17.41 per cent), Westlife Development (16.96 per cent) and Edelweiss Financial Services (15 per cent).

    Stocks that cracked
    Only four stocks plunged in double digits. Reliance Communications slipped 25 per cent, followed by Sterlite Technologies (14 per cent), Take Solutions (12 per cent) and Future Consumer (11 per cent). Reliance Power, Inox Wind, The Lakshmi Vilas Bank, Linde India, Swan Energy and Reliance Capital went down over 5 per cent during the week.

    IPO update
    MSTC: The initial public offering by state-owned MSTC has been extended till March 20 and the price band has been lowered, according to a regulatory filing. The price band of the offer, which was to close on Friday, has now been revised to Rs 120-128 from Rs 121-128 per share.

    Embassy REIT paces up: Embassy REIT has allotted 5.81 crore shares in the upper band of Rs 300 per unit, aggregating Rs 1,743 crore, as part of the anchor investor allotment. The initial issue of REIT will open on March 18 with a price band of Rs 299-300 per unit and will close on March 20. The IPO is expected to raise up to Rs 4,750 crore.

    TCIL eyes listing: State-owned Telecommunications Consultants India (TCIL) expects to raise roughly Rs 1,500 crore from its planned IPO and wants to retain part of the proceeds -- about Rs 600 crore -- for expansion and working capital needs, according to a company source. The proposed IPO is likely to hit the market sometime in the middle of this year, according to PTI.

    Sectoral update
    Sector-wise, the BSE Realty index as well as Bankex rallied more than 5 per cent during the week. Other indices including the BSE Oil, Telecom, Capital Goods, Power, Consumer Durables and Healthcare jumped 1-4.50 per cent. "Public sector banks are expected to report net profits of Rs 23,000-37,000 crore during FY20, after four consecutive years of losses, even though overall profitability will remain weak with return on net worth (RoNW) of 4-6.3 percent,” rating agency Icra said in a note.

    Top Nifty gainers/losers
    With a gain of over 10 per cent, IndusInd Bank and HPCL emerged as the leader of the Nifty pack. However, Tech Mahindra (down 1.49 per cent) and UltraTech Cement (down 1.41 per cent) took the top losers tag. HPCL gained after media reports that the department of public enterprises is in the process of conferring Maharatna status to the company.

    NBCC
    Shares of NBCC rallied 15 per cent during the week after the state-owned firm said it has secured an order worth Rs 700 crore from Raipur SMART City.

    Midcaps, smallcaps show fatigue
    While the benchmark equity indices rallied over 3 per cent, BSE Midcap and Smallcap indices advanced 2 per cent for the week ended March 15. Among the second rung stocks, Indo Coun Industries, The Byke Hospitality, Steel Exchange India, Alok Industries and Adlabs Entertainment firmed up over 25 per cent last week.

    IDBI Bank
    IDBI Bank has been categorised as a private lender following acquisition of majority stake by Life Insurance Corporation, the RBI said. In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank. “IDBI Bank has been categorised as a 'private sector bank' for regulatory purposes by the Reserve Bank of India with effect from January 21, 2019, consequent upon LIC acquiring 51 per cent of the total paid-up equity share capital of the bank," RBI said in a statement on Thursday. Shares of the lender came down by 1.15 per cent to Rs 42.90 from Rs 43.40 during the period under review.

    RCom on a sticky pitch
    Shares of Reliance Communications cracked 6 per cent on Friday following reports that the Department of Telecommunications (DoT) is invoking bank guarantees to recover Reliance Communications’ (RCom) latest spectrum dues. DoT is invoking bank guarantees to recover RCom's latest spectrum dues and is set to issue a notice asking why the airwaves shouldn’t be withdrawn, adding to the woes of the telco whose chairman Anil Ambani faces jail for not paying a vendor, an ET report suggested. Shares of the company plunged nearly 25 per cent for the whole week.

    Stocks @ fresh new high
    As many as 22 issues on the BSE500 index scaled their fresh lifetime highs. The list includes stocks such as Tube Investments, UPL, Info Edge, ICICI Bank, Trent, HDFC Bank, Titan Company, Bata India, Muthoot Finance, Reliance Industries and Axis Bank.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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