The much-awaited US inflation data indicated a slower-than-expected rise in inflation, which is positive for global markets because of the likely easing of tapering risk. This also boosted investor morale.
“In the coming week, the global focus will be on the policy meetings of a few central banks including the US Fed. With weak US job data and inflation increasing at a slower pace, Fed is not expected to hint on taper plans in the forthcoming meeting,” said Vinod Nair, Head of Research at Geojit Financial Services.
That said, here is a list of 10 stocks that hogged spotlight during the week gone by.
Zee Entertainment: Resignation of two directors and talk of removal of its CEO brought windfall gains for
’s investors last week. The stock rallied nearly 40 per cent to Rs 255.30. Buying by Rakesh Jhunjhunwala also helped sentiment.
Voda Idea: The government’s announcement to provide a moratorium of four years on AGR payment lifted the demand for Vodafone Idea shares. The stock climbed 33 per cent to Rs 8.39.
IRCTC: The railway ticketmaster was another major gainer of the last week as the vaccination drive picked up pace, paving the way of opening up of the economy earlier than expected. The fear of a third wave also seems to be abating. The counter rose 17 per cent.
Dish TV: Dish TV informed the stock exchanges that Yes Bank, which owns a 25.63 per cent stake in the company, had asked the company to replace five directors. Following this, the shares of the company rallied. It ended the week up 16 per cent.
IndiGo, SpiceJet: As the outlook on the tourism and travel industry is brightening, the shares of airline companies are also gaining traction. Moreover, the government said airline firms can fill flights up to 80 per cent of the pre-Covid levels. This lifted IndiGo 15 per cent and SpiceJet 13 per cent.
IndusInd Bank: Shares of IndusInd Bank climbed 13 per cent during the last week as the government tweaked its telecom policy. The bank is one of the big lenders to Voda Idea, whose survival gives breathing space to IndusInd Bank.
CBI, IOB: Central Bank of India and Indian Overseas Bank rallied after the government announced a bad bank that will house all provided for toxic assets, helping clean bank balance sheets. Following this, CBI rose 12 per cent and IOB 11 per cent.
SAIL: Steel shares came under intense selling pressure last week thanks to profit booking. Analysts also trimmed their expectations from the industry that has seen some massive rally in recent months. SAIL was one of the biggest losers, down 6 per cent.
