NEW DELHI: The benchmark indices plunged up to 2 per cent last week amid concerns over a slowdown in the global economy and intensifying US-China trade war. Investors were also a bit disappointed over delays in the much-anticipated stimulus that Finance Minister Nirmala Sitharaman eventually announced post market hours on Friday.

For the week, Sensex fell 1.7 per cent to 36,701. Broader BSE500 fell 2.1 per cent with sectoral indices such as real estate, metals and banking plunging up to 7 per cent.

Here are a few stocks, which hogged limelight all through the week:

HSIL: The stock plunged 75 per cent to Rs 58.70 for the week, as the stock went ex-date for demerger. HSIL’s furniture, furnishings and home decor business has been demerged into Somany Home Innovation, while its sales and distribution of building products is transferred to Brilloca. HSIL investors will be allotted Somany Home shares in 1:1 ratio. Emkay Global has downgraded the stock to ‘sell’ following the restructuring.

Den Networks, Hathway Cable: Reliance Jio Infocomm’s promise of a high-definition TV and set-top box along with a range of services have lifted the two stocks last week by 40.20 per cent and 35.41 per cent, respectively. Macquarie Research said RIL’s offer is a game-changer especially with national cable TV players Hathway and Den Networks already in its fold.

CG Power & Industrial Solutions: Shares of CG Power tanked 40.66 per cent to Rs 10.70 after its management reported fraud at the company that included unauthorised transactions carried out by ‘certain employees’, which led to potential understatement of not only the company’s liabilities, but also advances to related and unrelated parties of the company.

READ  US requests extradition of British tech entrepreneur Mike Lynch on fraud charges

Coffee Day Enterprises: This stock climbed 21.36 per cent to Rs 76.40 on reports ITC was considering a bid to buy a stake in the company. ITC later said no progress has been made on the matter. Coca-Cola Co, meanwhile, is believed to be evaluating a stake buy in the coffee chain but it has not made a formal offer.

YES Bank: The stock plunged 29 per cent to Rs 56.30 this past week as analysts felt Rs 1,930-crore fund raising by the bank through a qualified institutional placement (QIP) may not be enough to tide over its current liquidity crunch. Reports suggesting promoter entities YES Capital and Morgan Credits prepaying a part of the loans could not lift the counter.

NMDC: Shares of the state-owned company tumbled 23.52 per cent to Rs 78.70 as Karnataka government withdrew an approval accorded to the firm to extend mining lease period for the Donimalai iron ore mine.

MBL Infra: The stock went up 21.18 per cent to Rs 6.50 for the week after NCLAT dismissed petitions filed by four dissenting banks, against an order of the Kolkata bench of the NCLT, approving the resolution plan for MBL Infrastructures submitted by its promoter.

Spandana Sphoorty Financial: Shares of the Hyderabad-based debutant had a weak week, as the scrip closed at Rs 816.40 on Friday, a discount of 4.62 per cent to its issue price of Rs 856. The stock was listed on stock exchanges on Monday.

Sterling & Wilson Solar: This debutant had even worse listing experience. The stock closed at Rs 625.15 on Friday against the issue price of Rs 780, a drop of 20 per cent.

READ  Sudip Bandyopadhyay is bullish on corporate banks; Here's why



Please enter your comment!
Please enter your name here