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The week that was in 10 stocks: Auto, aviation back in limelight, steelmakers out of focus

NEW DELHI: The broader sentiment continues to be directionless as retail investors and FIIs turned prudent over better asset class opportunities other than equities in India and globally. This cautiousness is not new to D-Street and markets have been more or less tepid since the beginning of November.

Amongst sectors, BSE IT was the biggest gainer with a gain of 1.6 per cent, followed by BSE Power with a gain of 1.35 per cent, BSE Auto with a gain of 1.3 per cent, and BSE FMCG with a gain of 0.5 per cent. While in losers, BSE Metal declined 5.3 per cent, BSE Oil & Gas declined 2.7 per cent, BSE Reality declined 2.3 per cent, BSE Pharma declined 1.8 per cent and Bank Nifty declined 1.6 per cent.

“Given that most of the quarterly results and the festive mood are behind us, indices are expected to move sideways. As markets across the world are trying to decode the implications of rising inflation, any intensive selling by FIIs may take Indian indices lower, unless the domestic players provide support,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.



Here are some names that were under spotlight during the week:

Tanla Platforms: Shares of the company climbed nearly 15 per cent after Premji Invest, the investment arm of Azim Premji’s endowment and philanthropic initiatives, invested in India’s largest CPaaS provider Tanla Platforms.

: Shares of the tractor maker advanced over 14 per cent after Japanese Kubota said it will acquire a majority stake in the company. Kubota is acquiring the stake at a 26 per cent premium to the prevailing prices.

Maruti Suzuki: Shares of the carmaker continue to climb. It rose another 8 per cent during the week after the firm said chip shortage is slowly dissipating and production may normalise sooner than expected.

Paytm: The disappointing listing of the biggest IPO ever was the most talked about issue during the week. The stock plunged 27 per cent on the first day of trade on concerns over sky-high valuations.

SpiceJet: Shares of the low cost carrier climbed nearly 5 per cent as the situation for air travel continues to improve. Rising vaccination and declining virus cases have given confidence to investors that the worst for the aviation industry may be over.

Tata Steel, JSPL, SAIL: The best days for steelmakers may be over as demand is normalising and hence the analysts have trimmed their expectations on them. Consequently, the counters traded in the red for the week. Tata Steel fell nearly 8 per cent while SAIL declined 6 per cent. Jindal Steel and Power was down 7 per cent.

Vedanta: Shares of Vedanta were beaten down by 6 per cent after the company said it plans to break off the firm into three separate entities to “unlock value”. However, investors saw it more as rhetoric as the company still keeps avoiding key issues like high pledging of shares.

Mazagon Dock Shipbuilders: After a rally following delivery of Visakhapatnam class fridgette to the Indian Navy, the stock has come under selling pressure as inventors resorted to profit booking. During the last week, it fell about 6 per cent.

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