The week that was: Birlasoft, Tata Consumer among 10 key stocks that buzzed the most

The week that was: Birlasoft, Tata Consumer among 10 key stocks that buzzed the most

NEW DELHI: In the penultimate week of the calendar year 2020, benchmark indices closed flat but the highlight was the biggest single day crash on Monday. However, thanks to FII buying, indices recovered but not every stock had a similar move.

In the BSE500 index, just 165 stocks closed in the green while a majority ended in the red. During the holiday-truncated week, Sensex inched up 12.85 points or 0.02 per cent, while Nifty slipped 11.30 points or 0.08 per cent.

“The new strain of coronavirus did trigger volatility in the world equity markets but they recovered well assuming lower risk in the future and with the start of vaccination. The next set of stimulus announced in the US too helped the market though it was smaller than anticipated and believed as largely factored in the market, which is visible from the muted performance of the US market during the week,” said Vinod Nair, Head of Research at Geojit Financial Services.

Key stocks that buzzed the most during the week:

Birlasoft: Shares of Birlasoft surged 22.48 per cent to Rs 254.20 after Invesco MF, Aditya Birla MF, ICICI Pru MF together bought 60 lakh shares of the company in bulk deal. It was the biggest gainer in BSE500 index.

Firstsource Solutions: The stock climbed 18.73 per cent to Rs 91.90, logging 52-week high on Thursday, after the company announced earlier in the week that it was going to acquire PatientMatters, a healthcare Revenue Cycle Management (RCM) solutions provider.

Vedanta: Shares of the natural resources company saw huge demand after reports said promoters could buy up to 5 per cent in the company after a failed delisting bid. The scrip rose 10.38 per cent to Rs 162.65.

Tata Communications: Shares of the company advanced 7.20 per cent to Rs 1,069.25 as the company said it acquired a 58.1 per cent stake in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider.

Tata Consumer, GAIL: Shares of the spices-maker gained 5.03 per cent to Rs 601.20 after Edelweiss Alternative Research said it expects Tata Consumer may be included in Nifty in place of GAIL in the next revision of the elite index. At the same time, GAIL dropped 3.96 per cent to Rs 120.10.

Vodafone Idea: Shares of the telco added 2.64 per cent to Rs 10.10 after reports said US-based GoldenTree Asset Management and Pacific Investment Management Co (PIMCO) have likely joined a consortium led by investment firm Oak Hill Advisors, which is in talks to provide a $2 billion (Rs 14,720 crore) credit line to Vodafone Idea.

SpiceJet, Interglobe Aviation: Shares of the two airline companies ended with cuts after the government banned flights to and from the UK as a new strain of virus emerged there. SpiceJet dipped 6.30 per cent to Rs 95.20. Interglobe Aviation fell 0.43 per cent to Rs 1,643.75.

Tata Motors: Shares of the automaker were down 2.55 per cent to Rs 175.90 after reports said it has closed production at a unit in the UK.

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