The week that was: Mahindra Logistics, JK Paper among buzzing stocks

NEW DELHI: June quarter numbers were among the biggest movers of the market during the last week. Besides, some poor performance by pharma firms also spooked investors. Though, paper, metal and textile firms were in demand.

Sector wise, next week auto names will be on radar as the companies will come out with July sales data. Besides, a number of companies are expected to report their June quarter numbers, which will also keep the market buzzing.

“It’s prudent to stick with a stock-specific trading approach until we see a decisive trend in the index. Earnings combined with global cues will continue to dictate the trend,” said Ajit Mishra, VP - Research, Religare Broking.

Here are key stocks that were in spotlight during the week:

Mahindra Logistics: Shares of the company surged after it reported 155 per cent jump in net profit figure. June quarter revenue of the firms also more than doubled. The stock rallied nearly 26 per cent in the week.

GHCL: The maker of commodity chemicals reported nearly a six fold jump in standalone net profit for the June quarter. This led to over 22 per cent jump in shares prices of the company.

JK Paper: Shares of paper stocks like JK Paper were in huge demand past week as due to international lumbar shortage, traders are hoping for a price hike. The stock climbed 19 per cent during the week.

Trident, Century Textiles: Shares of textile companies are in a long bull run and the trend continued during the week as well. Analysts expect the export of the commodity to grow. Moreover the prices are likely to remain high given the high demand scenario. Trident rose 17 per cent and Century Textiles 12 per cent in the week.

Metal stocks: Shares of Hindalco, National Aluminium Company, Vedanta, Steel Authority Of India and Tata Steel climbed 11-13 per cent on hopes that a mega infrastructure plan in the US will keep demand high, especially when China is clamping down on the production.

Sun Pharma: The stock got a boost on Friday when the company announced better than expected commentary. It settled a long-pending lawsuit in the US and also said there was no pricing pressure, unlike its peers. The scrip bounced 12 per cent during the week.

Inox Leisure: Shares of multiplex operator gained over 9 per cent during the week after reports suggested Amazon might be looking to invest in the company. However, the company clarified there is “no discussions taking place between Inox and Amazon”.

Alembic Pharma: Shares of the pharma major tumbled 17 per cent after the company’s poor show in June quarter. It also said the firm is facing pricing pressure in the US that will lead to lower margins.

Dr Reddy’s Labs: The pharmaceutical giant was another stock that dived 12 per cent during the week as the company said it is being probed by SEC for bribery allegations. Besides, the commentary during the June quarter also disappointed investors.