The week that was in 10 stocks: IndusInd, Voda Idea steal show

NEW DELHI: Midcap stocks were the highlight of the week as many of them saw buying, but overall market sentiment was less than encouraging. Despite the efforts of the stock market bulls, benchmark indices gave negative returns this week.

Out of the 500 top companies listed on BSE, 300 ended the week in red while the rest gained. Analysts on Dalal Street termed the movement of the week that marked the end of a phoney rally.

However, foreign institutional investors (FIIs) continued to pour money into equities as risk sentiments improved. They invested a net Rs 1,649.31 crore during the last week.

Here are key stocks that saw movement during the last week:

Vodafone Idea: The telco got a scolding from the Supreme Court where it accepted that the company does not have enough to pay salaries, let alone statutory dues. Thanks to the admission, the script slipped 3.52 per cent to Rs 10.15. The court will hear the matter again next week.

Dishman Carbogen Amcis: Shares of the company vaulted 70.22 per cent to Rs 122 during the week amid management call with investors. The company last week reported a sharp fall in net profits but the management assured investors that there were plans in Switzerland that may fructify and that the company’s plants were functioning properly.

IndusInd Bank: Shares of the private lender were in huge demand last week and the stock price climbed 24.97 per cent to Rs 528.05. The promoters of the company said that they were looking to raise their stake in the company.

Adani Green Energy: Shares of the renewable energy company added 18.38 per cent to Rs 336.45 after claiming it had won an award to build 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity.

Garden Reach Shipbuilders: Shares of the firm gained 17.93 per cent to Rs 182.15 after the company reported 48 per cent jump in its March quarter net profits.

Shilpa Medicare: Shares of the drugmaker climbed 16.37 per cent to Rs 541.45 ahead of its earnings scheduled later next week. Investors are hoping the company will report a better set of numbers as it is likely to gain from Covid. The stock has gained 92 per cent year to date.

Info Edge: Shares of the internet services company that holds stakes in many startups gained 12.77 per cent to Rs 2,820.15 during the week as India allowed opening of many businesses. Investors hoped that this will result in relatively more revenue for the bouquet of companies it holds.

PVR, Inox Leisure: Shares of multiplexes saw profit booking after a week of gains as governments across India refrained from allowing cinema halls to open their doors for the public. PVR fell 17.10 per cent to Rs 1,029.25 and Inox Leisure 14.92 per cent to Rs 245.40.

Graphite India: Shares of the company plunged 11.53 per cent to Rs 188 after the company said it suffered a surprise loss of Rs 7 crore for the quarter ending March 31. In the corresponding quarter last year, the company had reported a profit of Rs 562 crore.