The week that was: Realty stocks surge, PNB slips 10%

The week that was: Realty stocks surge, PNB slips 10%

NEW DELHI: Benchmark equity indices BSE Sensex and NSE Nifty scaled their fresh record closing highs on every trading session of the week following unabated inflows by foreign institutional investors amid firm global cues. Overall, the benchmark BSE Sensex advanced 862 points, or 1.87 per cent, to 46,960 for the week ended December 18. Likewise, the NSE Nifty index surged nearly 247 points, or 1.83 per cent, to 13,760.

Vinod Nair, Head of Research, Geojit Financial Services, said, “During the week, the domestic indices have been following the global peers on expectations of US stimulus measures and developments in Brexit talks. The market was inching to fresh highs, each day, supported by improvement in Indian industrial data and US Federal Open Market Committee’s reaffirmation to continue its support through stimulus measures until the economy reaches maximum employment and the inflation target.”

Below are the top stocks that created a buzz on Dalal Street through the week.

Burger King India
Shares of Burger King made a remarkable debut on D-Street. The scrip listed at a premium of over 92 per cent at Rs 115.35 on the BSE against the issue price of Rs 60. Shares of the company closed at Rs 161.45 on Friday.

Realty stocks jump
BSE Realty index advanced nearly 4 per cent last week on hopes that a recovery in residential sales was here to stay after a pick-up in the country’s top cities. Indiabulls Real Estate, DLF, and Godrej Properties led the gains as they advanced 7.51 per cent, 5.76 per cent and 5.61 per cent, respectively. Sobha and Oberoi Realty added 4 per cent and 3.88 per cent, respectively.

Larsen & Toubro (L&T)
Shares of L&T advanced 7.31 per cent to Rs 1,281.55 on December 18 from Rs 1,194.30 on December 11. The scrip got traction after the company’s construction arm–L&T Construction secured orders from prestigious clients for two of its businesses.

Punjab National Bank slips
State-run lender Punjab National Bank plunged nearly 10 per cent to Rs 36.55 after it set the floor price for its proposed Rs 7,000 crore qualified institutional placement (QIP) at Rs 37.35 per share. The stock fell as the QIP price was set at a 7.9 per cent discount to Tuesday’s closing price of Rs 40.55.

Bajaj Finance market cap crosses Rs 3 lakh crore mark
Bajaj Finance crossed the Rs 3 lakh crore market capitalisation mark for the first time on Tuesday, as the stock price of the country’s largest non-banking finance company (NBFC) hit a record high amid the ongoing rally on Dalal Street. The scrip jumped 8.40 per cent to Rs 5,252 for the week ended December 20.

Stocks that rallied up to 44%
As many as 20 stocks on the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. They included Hindustan Copper (up 44 per cent), Suzlon Energy (24 per cent), Esab India (23 per cent), Page Industries (20 per cent) and L&T Technologies (20 per cent). Vakrangee, BEML, TCNS Clothing, Indiamart Intermesh, Crompton Greaves, HFCL, DCM Shriram, Hawkins Cookers, JTEKT India, Havells India and KEI Industries also advanced between 10-20 per cent.

Scrips that cracked
As many as 25 stocks on the BSE500 plunged over 5 per cent during the week. Tanla Platforms melted 22.60 per cent, followed by IFCI (15.40 per cent), JK Tyre (10.80 per cent), Punjab National Bank (9.80 per cent) and The South Indian Bank (8.8 per cent). Varroc Engineering, TVS Srichakra, Bank of Maharashtra, Central Bank of India, SH Kelkar, Union Bank of India and Thyrocare Technologies were among other firms that fell over 5 per cent during the week.

Stocks @fresh all-time high
Some 43 stocks on the BSE500 hit their fresh all-time highs during the week. They included Asian Paints, Berger Paints, Divis Labs, Havells India, Hawkins Cookers, Indiamart Intermesh, Deepak Nitrite and Infosys, among others.

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