On the global front, a possible hike in capital gains tax in the US also took a toll on global equities. Pharma and metal ended with healthy gains whereas all the other indices traded subdued. Realty, FMCG and auto were the top losers.
However, analysts are hopeful that a bottom will be formed soon. Goldman Sachs Research estimated that assuming a faster ramp-up in Sputnik vaccine production, around 60% of India’s population or 95 per cent of its adult population will be inoculated by year-end. That does not take into account a potential partnership between Pfizer and local manufacturers, or other bilateral import arrangements.
“In the short-term, there is little to protect the market from falling further. The medium and long-term story remains very compelling,” said Mark Shirreff Matthews, Head Research Asia, Julius Baer.
Here are 10 stocks that buzzed the most during the week:
Pharma: Shares of the company surged 22.29 per cent to Rs 4,226.85 during the last week after the government said it will open vaccination for all adults. Astrazeneca’s parent holds the patent for Covishield, which is the backbone of Indian vaccination programme.
: Shares of the media company were also in demand after TV18 Broadcast reported a 77.03 per cent increase in its consolidated net profit to Rs 251.08 crore for the fourth quarter ended in March 2021. The stock added 21.14 per cent to Rs 34.10 during the week.
Network18 Media: The stock advanced 10.52 per cent to Rs 40.45 after the company said its net profit jumped nine times in March quarter. Operating margin also expanded 430 basis points YoY.
Cadila Healthcare: Shares of
climbed 8.39 per cent to Rs 571.20 after Zydus received emergency use approval from DCGI for the use of Pegylated Interferon alpha-2b, ‘Virafin’ in treating moderate Covid-19 infection in adults.
Tata Elxsi: Shares of
climbed 7.73 per cent to Rs 3,191.95 during the last week after the IT firm reported a solid 40.30 per cent rise in March quarter profit.
ICICI Securities: Shares of the broker were in high demand as the company more than doubled its March quarter profits thanks to greater retail participation. The stock rose 7.64 per cent to Rs 448.70.
Escorts: The tractor market has been in a decline and the stock further fell 8.73 per cent to 1,137.95 as analysts and traders believe demand for tractors has peaked and the growth will slow down now.
Ashoka Buildcon: As the pandemic rages across India, there are reports of migration of working population from cities as they fear a repeat of the lockdown. Moreover, some projects may also see some disruptions. Due to these reasons, Ashoka Buildcon dropped 7.89 per cent to Rs 84.
SpiceJet: Shares of the low-cost carrier declined 7.52 per cent to Rs 60.85 after Covid cases leapfrogged. Analysts believe the pandemic will result in less people travelling via air, resulting in operating losses.
Avenue Supermarts: Shares of the D-Mart operator fell 7.11 per cent to Rs 2,711.85 after Maharashtra government imposed strict restrictions. The company has most of its stores in Maharashtra and Gujarat.
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