New Delhi: Indian stock markets had a choppy run in the recently concluded holiday-shortened week. Investors stayed cautious as the earnings season began amid slowdown concerns. In the week ended 11 October, the benchmark S&P BSE Sensex managed to add 453.77 points, or 1.2%, to end at 38,127.08, while the Nifty 50 index rose 130.30 points, or 1.16%, to 11,305.05. Here are the top five gainers and losers for the week:
Top 5 Gainers
Bharti Airtel: Bharti Airtel Ltd shares climbed 12.8% this week after its main competitor Reliance Jio announced that it will be charging an interconnect usage charge (IUC) from customers for calls made to the other networks.
Britannia Industries: Britannia Industries Ltd shares jumped 8.3% during the week as brokerages remained upbeat on the stock on expectations of strong Q2 numbers.
Grasim Industries: Grasim Industries Ltd shares gained 5.6% this week amid broader rally in cement stocks.
Cipla: Cipla Ltd shares added 5.5% during the week after its management clarified on the Goa unit inspection, saying there were no data integrity and repeat observations.
Bharti Infratel: Bharti Infratel Ltd shares rose 5% this week taking cues from the strong performance of sister company Bharti Airtel’s shares.
Top 5 Losers
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares slumped 14.4% this week after the Reserve Bank of India (RBI) rejected its merger proposal with Lakshmi Vilas Bank.
Yes Bank: Yes Bank Ltd shares lost 6% during the week after the lender denied media reports of the company being in talks with three technology companies including Microsoft for a strategic investment.
Gail India: Gail India Ltd shares fell 5.5% this week as the stock continued to witnessed selling pressure for a second week despite cut in domestic gas prices.
BPCL: Shares of Bharat Petroleum Corp. Ltd lost 5.3% during the week after analysts warned that the recent rally in the stock was overdone and there was not much left on the table for investors now even if the company gets privatized.
ITC: ITC Ltd shares dropped 5.2% this week as the company admitted that it was grappling with the widespread slowdown in the economy, but seemed optimistic about the future.
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Source: News18