In the BSE500 index, over 400 stocks closed in the green, which reflects the dominance of bulls during the week. The biggest gainers and losers of the week also included those that came out with their earnings. The same may continue in the next week, said analysts.
“Indian markets are likely to start a fresh week with a positive note on the global backdrop. However, there is a risk of selling pressure at higher levels as we are underperforming the global peers where the near term texture has changed to ‘sell on rise’ from ‘buy on dip’,” said Santosh Meena, Head of Research, Swastika Investmart.
Here are key names that were under spotlight during the week:
Logistics: Shares of Allcargo Logistics zoomed over 29 per cent during the week after the company pulled up a strong performance in the September 2021 quarter. The logistics player reported a consolidated net profit of Rs 228.01 crore in the quarter ended on September 30, 2021 as against a net profit of Rs 57.25 crore.
Sobha: Riding on strong sales data and plans to raise funds, shares of Sobha climbed nearly 24 per cent during the week. The company is also set to announce its earnings, wherein investors are hoping for a positive surprise.
Indiabulls Real Estate, Oberoi Realty: Real estate stocks were in huge demand last week as data suggested more and more people were buying homes in Mumbai. Indiabulls Real Estate climbed 19 per cent and Oberoi Realty advanced 14 per cent.
Mazagon Dock Shipbuilders: Shares of the defense PSU got a new lease of life after the company said it has delivered the first of the Visakhapatnam-class destroyers to the Indian Navy, with work on the other three in progress. The stock advanced over 16 per cent.
DVR: Even as the ordinary shares performed flat after widening of losses for the company in the September quarter, its DVR shares were in demand. The counter rose over 8 per cent last week.
Tata Power: The stock added nearly 8 per cent after reports suggested BlackRock chairman and CEO Larry Fink was closing in on an investment of $500-750 million (Rs 3,750-5,625 crore) in Tata Power’s renewable energy arm.
SIS: Shares of the security services provider dropped 7 per cent during the week after the company reported a 37 per cent drop in profits and 5 per cent drop in EBITDA in September quarter over the same period last year.
IRCTC: Investors continued to sell IRCTC shares even though the company said it no longer will have to split service charge revenue with the government. The stock fell nearly 3 per cent.
Escorts: Shares of the tractor maker dipped nearly 3 per cent after the company reported its October sales dropped over 1 per cent. Its domestic sales was down over 3 per cent in October but exports climbed 58 per cent.
