Buzzing stocks: The Week That Was in 10 Stocks: Pharma shares on a tear; IDBI, IndusInd Bank rally

NEW DELHI: Benchmark equity indices snapped their seven-week losing streak on firm global cues and hopes that Indian government would roll out more stimulus measures.

A second stimulus package India is poised to announce in coming days will be worth around Rs 1 lakh crore and focus on help for small and medium businesses weathering the coronavirus outbreak, according to Reuters.

The 30-share BSE Sensex advanced 3,568 points or 12.93 per cent to 31,159 for the week ended April 9. Likewise, the 50-share NSE Nifty index gained 1,028 points or 12.71 per cent to 9,111.90 during the same period.

Vinod Nair, Head of Research, Geojit Financial Services said, “In a holiday-shortened week, domestic equity market this week were mostly in sync with global peers. The market was driven by expectations of infections peaking out in the worst affected countries and for more stimulus measures to be announced by various countries.”

Domestic equity market was closed on Monday and Friday on account of Mahavir Jayanti and Good Friday, respectively.

Here are top stocks and sectors that buzzed during the week gone by:


Stocks that rallied up to 45%
As many as 243 stocks in BSE 500 index delivered a positive return to investors during the week with Jindal Steel & Power rallying the most 45 per cent. It was followed by Cholamandalam Investment (up 38 per cent), Mahindra & Mahindra (up 36 per cent) and Ashoka Buildcon (up 35 per cent). Avanti Feeds, Rashtriya Chemicals, Maruti Suzuki, Shriram Transport and Gujarat Mineral Development Corporation also gained 30-35 per cent.

Scrips that slid up to 15%
Just five stocks in BSE500 declined in double digits during the week. Amber Enterprises lost 15 per cent, followed by Infibeam Avenues (15 per cent), Edelweiss Financial Services (12 per cent), Capri Global Capital (11 per cent) and Lemon Tree (11 per cent). Inox Leisure, Chalet Hotels, Future Retail, Future Lifestyle and Ircon International were among other stocks that fell 5-9 per cent.

Scrips at fresh 52-week highs/lows
In BSE500 index, Abbott India, Ajanta Pharma, Alembic Pharma, Alkem Labs, Cadila Healthcare, Cipla, Divi’s Labs, Dr Reddy’s Labs, Torrent Pharma, Biocon, Glaxosmithkline Consumer, Hindustan Unilever, IPCA Labs and Nestle India were among 14 firms that hit new 52-week highs during the week. On the other hand, Inox Leisure, Capri Global, Future Lifestyle, Oberoi Realty, Future Retail, Future Consumer, Sadbhav Engineering, Repco Home, The Ramco Cement, DB Corp, Cummins India and Lemon Tree Hotels hit new 52-week lows.

Sectoral update
All the sectoral indices on BSE ended the week in the green. The BSE Auto index climbed 23 per cent to 12,637 on April 9 from 10,269 on April 3. BSE Healthcare, Bankex, Metal, Consumer Durables and Oil & Gas indices also gained between 10-17 per cent during the same period.

Top Nifty gainers
With a rally of 36 per cent, Mahindra & Mahindra emerged as top gainer of the week in the Nifty 50 index. Maruti Suzuki (up 33 per cent), Cipla (up 29 per cent), IndusInd Bank (up 26 per cent), Hero MotoCorp (up 26 per cent) and Sun Pharmaceutical (up 21 per cent) stood among other top gainers in the benchmark index.

Shares of Cipla hogged limelight after the company received final approval for a generic version of Albuterol Sulfate Inhalation Aerosol from the USFDA. It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.

IDBI Bank climbs 9%
Shares of IDBI Bank advanced 8.97 per cent to Rs 21.25 on April 9 from Rs 19.50 on April 3. The scrip gained momentum after the lender said it will raise up to Rs 7,500 crore in the current financial year.

Morepen Labs, Auro Labs rally up to 58%
Pharma stocks advanced up to 58 per cent after the government relaxed export curbs on some pharma ingredients and medicines. Shares of Morepen Laboratories zoomed 58.26 per cent, Vivimed Labs 57.51 per cent, Auro Laboratories 56,96 per cent, Gennex Laboratories 51.86 per cent and Nectar Lifesciences 46.62 per cent on the BSE.

VA Tech Wabag climbs 14%
Water technology solutions provider VA Tech Wabag on Wednesday said it has bagged a Rs 90 crore contract for operations and maintenance of sewage treatment plant in Bahrain. The scrip advanced 13.94 per cent to Rs 85.95 for the week ended April 9.

Godrej Prop shares soar 11%
Shares of builder Godrej Properties surged nearly 11 per cent during the week after the company said its Q4FY20 bookings stood at Rs 2,380 crore representing a QoQ growth of 100 per cent and YoY growth of 10 per cent.

Shilpa Medicare gets MHRA nod
Shares of Shilpa Medicare advanced nearly 16 per cent after its UK subsidiary Koanaa Healthcare received UK MHRA approval for cancer drug Imatinib oral solution.

IndusInd loans grow 13%
Shares of IndusInd Bank climbed over 25 per cent in the truncated week after the bank said its net advances jumped 13 per cent to Rs 2,09,914 crore as of March 31. The private lender said deposits jumped 4 per cent year-on-year to Rs 2,16,713 crore.