Indian stock markets had a volatile run last week as the effect of weak global cues and mixed quarterly earnings came into play. For the week ended 24 January, the benchmark BSE Sensex dropped 0.79% to 41,613, while the Nifty shed 0.84% to 12,248. Here’s a look at the top five gainers and losers among the Nifty stocks:
TOP GAINERS
Bharti Infratel: Bharti Infratel Ltd shares surged 12% this week after the central government asked the Department of Telecommunications to not take any coercive action against telecom companies for non-payment of adjusted gross revenue (AGR) dues until further court orders.
Yes Bank: Yes Bank Ltd shares climbed 9% during the week after State Bank of India (SBI) chairman Rajnish Kumar said that the bank was too big to be allowed to fail and it was certain that some solutions would emerge to help the troubled lender.
Grasim Industries: Grasim Industries Ltd shares were up 7% for the week on the back of positive news for the telecom sector as the company holds 11.55% stake in Vodafone Idea Ltd.
Bharti Airtel: Bharti Airtel Ltd shares jumped 4.8% this week after the government approved up to 100% foreign direct investment (FDI) in the company from 49% earlier.
L&T: Larsen and Toubro Ltd (L&T) shares rose 4.2% during the week after the company’s Q3 consolidated profit rose 15.2% year-on-year to Rs 2,352 crore.
TOP LOSERS
UPL: UPL Ltd shares slumped 7.8% this week on reports that the Income tax Department has conducted searches at the company’s offices and premises on suspected tax evasion and account manipulation.
Coal India: Coal India Ltd shares lost 6.7% during the week after a media report said that the world’s largest money manager BlackRock will cut its equity in the company to zero by the middle of the year.
ONGC: Oil and Natural Gas Corp. Ltd (ONGC) shares tanked 5.6% this week amid broader decline in oil and gas stocks.
Tata Motors: Tata Motors Ltd shares were down 5.5% for the week even as the company entered into the premium hatchback segment with the launch of Altroz at a price starting from Rs 5.29 lakh for the petrol version and Rs 6.99 lakh for the diesel version.
NTPC: NTPC Ltd shares shed 5.3% this week. The company on Thursday said that the power ministry has appointed Ashish Upadhyaya as a government nominee director on NTPC’s board.
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Source: News18