Thursday, December 9, 2021
HomeMarket Live UpdatesThe week that was in 10 stocks: IRB Infra tanked 23%, RVNL...

The week that was in 10 stocks: IRB Infra tanked 23%, RVNL shed 18%


New Delhi: The domestic equity market ended the week on a pessimistic note, tracking weaker global cues and below par corporate earnings from India Inc in September quarter. Heavy FII outflows added to the woes of investors.

Benchmark indices BSE Sensex and Nifty50 witnessed a sharp fall, declining more than 2.5 per cent each, thanks to a downgrade from global brokerage houses on Indian equities.

Sensex breached the psychological level of 60,000 whereas Nifty settled just above 17,650 mark. Private sector banks witnessed fatigue. Broader markets, too, were hit hard with midcap and smallcap indices declining up to 2 per cent.

“Global markets turned weak although the European Central Bank decided to keep policy rates unchanged despite the inflationary pressure while slow GDP growth in the US tested investor confidence,” said Vinod Nair, Head of Research at Geojit Financial Services.

In the BSE500 index, about 350 stocks ended the week on a negative note while the rest closed with gains. Among the gainers, only a dozen of them registered a rise of 10 per cent or more during the week.

Here are some of the stocks that were abuzz during the week:

IRB Infrastructure: The road and highway construction player tanked 23 per cent to Rs 225.75 during the week after its board approved raising of up to Rs 5,347 crore by issuing shares through the preferential issue on a private placement basis at Rs 211.79 per share.

Subex: The stock of the IT player shed 19 per cent to Rs 42.45 after the company reported a net profit of Rs 4.82 in the September 2021 quarter, which is about 61 per cent lower than the net profit of Rs 12.25 crore during the previous quarter ended September 2020.

Rail Vikas Nigam: The railways firm declined 18 per cent to Rs 35.3 during the week on the back of profit booking. The scrip has soared about 50 per cent during the month before investors sold the shares with heavy volumes amidst the gloomy news flow about railways and PSU stocks.

Vaibhav Global: The fashion jewelry and lifestyle accessories retailer plunged 17 per cent to Rs 574.85 after its net profit declined 40 per cent to Rs 42.18 crore in the quarter ended September 2021 as against Rs 70.56 crore during the previous quarter ended September 2020, despite a 6 per cent rise in sales.

Sahyadri Industries: The cement and related products company lost 16 per cent of its value during the week to Rs 557 as the company’s bottomline dipped over 2 per cent to Rs 11.84 crore in the quarter ended September 2021, despite the rise in the company’s revenue.

RPSG Ventures: The Sanjeev Goenka group company retreated 15 per cent to Rs 765.85 after the company won the bid for Lucknow franchise at a very high valuation of Rs 7,090 crore, whereas Ahmedabad franchise was sold for Rs 5,625 crore.

Adani Power: The Adani Group firm gave up more than 14 per cent to Rs 100.4 on the back of weaker sentiments in power sector. Also, the company reported a net loss of Rs 230.60 crore for the September 2021 quarter due to lower revenues.

Vimta Labs: The healthcare services player surged 24 per cent to Rs 349.5 as the company reported a net profit of Rs 9.74 crore in the quarter ended September 2021, 29 per cent higher than Rs 7.54 crore during the previous quarter ended September 2020.

Allsec Technologies: The BPO/KPO player rallied 19 per cent to Rs 531.3 after its net profit jumped 50 per cent to Rs 4.35 crore in the September 2021 quarter as against a net profit of Rs 2.90 crore during the previous quarter ended September 2020.

TTK Prestige: The kitchen appliances manufacturer zoomed 15 per cent to Rs 10,933.8 during the week after its board approved the sub-division/stock split of equity shares of the company from face value of Rs 10 each into Re 1 each.

Ujjivan Financial Services: The NBFC advanced over 15 per cent to Rs 181.55 ahead of its board meeting, scheduled on Saturday. The board has approved amalgamation of the company with its subsidiary Ujjivan Small Finance Bank in order to comply with Sebi’s minimum public shareholding norms.



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