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    The week that was in 10 stocks: PNB Housing zooms 92% in 5 days; Religare, Spandana gain big

    Synopsis

    Some of the buzzing stocks that rallied up to 92 per cent during the week:

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    NEW DELHI: Benchmark indices Sensex and Nifty hit new highs and consolidated around those levels in the week gone by, amid hopes of an earlier-than-expected recovery in the economy.

    The BSE Sensex rose 677.17 points, or 1.31 per cent, for the week, to 52,100.05. The NSE Nifty50 ended the week gaining 234.60 points or 1.51 per cent to 15,670.25.

    Bigger action was seen in midcap and smallcap pockets, where the benchmarks gained up to 4 per cent for the week. Here are some of the buzzing stocks that rallied up to 92 per cent during the week:

    PNB Housing Finance: Carlyle Group and Aditya Puri-led Salisbury Investments' decision to buy a controlling stake in the housing finance company sent its shares soaring 91.63 per cent to Rs 838.75 in the five sessions. Analysts feel post-deal dilution in book value will keep the upside limited for the stock.

    Religare Enterprises: This scrip rallied 30.6 per cent to Rs 142.35 as reports suggest the Burman Family of Dabur Group was looking to increase its stake in the company from a little less than 10 per cent at present The stock also gained on reports that Care Health, 70 per cent-owed by Religare, is planning an IPO of around Rs 1,200-1,500 crore.

    Spandana Sphoorty Financial: This stock soared 28.73 per cent for the week to Rs 743.60 apiece amid reports that Axis Bank is in talks with Spandana and two other microlenders for a stake buy. The talks have begun, three people familiar with the matter told ET. There's no certainty on which of the negotiations would conclude in a transaction, they said.

    Magma Fincorp: This stock climbed 27.71 per cent for the week to Rs 165.55 after the management rejig. The company appointed Adar Poonawalla as the Chairman, Abhay Bhutada as Managing Director, and Vijay Deshwalas as the Chief Executive of Magma Fincorp from July. The Kolkata-based NBFC had reported a widening of its consolidated net loss to Rs 647.72 crore for the fourth quarter on accelerated write-offs and provisions.

    Adani Total Gas: While there was no particular news about this stock, a report suggested the stock could enter the large-cap segment in the forthcoming reclassification of stocks by AMFI. The AMFI classification tags top 100 stocks by average market cap between January and June as largecaps. The stock rose 22 per cent for the week to Rs 1,636.90.

    Rupa & Co: The stock gained 15.6 per cent to Rs 476.35 amid optimism over the recent stake purchase by renowned hedge fund manager Jeremy Grantham's GMO Emerging Market Fund and Abakkus Asset’s Sunil Singhania in the innerwear maker. The hosiery manufacturer posted a consolidated net profit of Rs 65.96 crore in the March quarter compared with a loss of Rs 4.28 crore in the year-ago quarter.

    Bank of Maharashtra, Central Bank: The two stocks gained 10-19 per cent for the week amid reports that the two banks are the top two candidates that have been favoured for privatisation. NITI Aayog submitted the names of two public sector banks (PSBs) and one public sector general insurer, which can be sold off under the government's new privatisation policy, to the Core Group of Secretaries on Disinvestment, this week.

    Sulzon Energy: The scrip rose 29 per cent to Rs 7.34 in five straight days of gains. The stock rose as Suzlon secured a new order of 252 MW from CLP India. The project, located in Sidhpur, is expected to be commissioned in 2022. The scrip also gained as the company appointed Himanshu Mody as the new Chief Financial Officer. Mody will join the company from August

    Muthoot Finance: This stock jumped 19.3 per cent to Rs 150.40 after reporting a 22 per cent jump in standalone profit after tax in the March 2021 quarter. The gold loan firm posted a net profit of Rs 996 in the March quarter from Rs 815 crore in the year-ago period.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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