market outlook: The week that was: RK Damani’s latest stock pick and dubious Q2 records


NEW DELHI: Benchmark indices consolidated in a narrow range past week amid lack of directional cues. While the US Federal Reserve Chair Jerome Power painted a rosy view of the US economy in a speech, President Donald Trump refused to offer fresh details on the on-going trade negotiations with China in an otherwise much awaited speech, thus disappointing investors globally.

At home, three big telecom operators together reported losses in excess of Rs 1,00,000 crore for the September quarter. Bharti Airtel, only Nifty/Sensex component, gained 5 per cent for the week, as mammoth losses failed to hurt sentiment much.

Overall, for the week, Sensex gained 33.08 points, or 0.08 per cent, to 40,356.69. Nifty ended the truncated week at 11895.45, down 12.7 points or 0.11 per cent.

Here are a few stocks that buzzed the most during the trading week:

Voda Idea, Bharti Airtel and RCom: Shares of three telecom operators ended mixed last week after reporting a combined Rs 1,00,000 crore-plus losses for the September quarter. Bharti Airtel ended the week at Rs 393.20, up 5.4 per cent. Vodafone Idea fell 2.64 per cent for the week to to Rs 3.7, after rallying 25 per cent alone on Friday. This is even as the company reported India Inc’s highest ever quarterly loss of Rs 50,921 crore. RCom fell 14.49 per cent to Re 0.6, but that after posting India Inc’s second-worst quarterly loss of Rs 30,142 crore.

VST Industries: The stock jumped 9.95 per cent to Rs 4,555.70 last week after ace investor and D-Mart’s promoter Radhakishan Damani bought 2.70 lakh shares in the company. Damani purchased shares on Wednesday at an average price of Rs 4,259.99, BSE bulk deals data showed.

Coffee Day Enterprises: This stock hogged limelight as the company signed a non-disclosure agreement with private equity firms KKR, TPG Capital and Bain Capital for initiating discussions on a significant stake buy in the group’s coffee business. The stock rose 11.69 per cent for the week to Rs 45.90.

Lakshmi Vilas Bank: Widening of losses in the September quarter dragged this banking stock by 7.29 per cent to Rs 19.10 last week. The private sector lender reported a loss at Rs 357.17 crore for the quarter ended September 30. The Tamil Nadu based bank had logged loss of Rs 132.30 crore during the year ago period.

Edelweiss Financial Services: Shares of Edelweiss Financial Services jumped 16 per cent to Rs 129.10 for the week after the NBFC raised $500 million for two separate investment platforms, as the Mumbai-based financial services firm is looking to expand its real estate and investment advisory businesses.

Aurobindo Pharma: This scrip hit a 5-year low during the week after the second largest drug maker received 14 observations from the USFDA for its manufacturing facility at Pashamylaram near Hyderabad. The stock ended the week at Rs 410.10, down 6.58 per cent.

Amara Raja Batteries: This stock jumped 14 per cent for the week to Rs 746.20. Post its quarterly results, analysts have turned bullish on the stock, given an expected improvement in replacement demand and a market share gain from unorganised players after the GST implementation.

Spicejet: This scrip fell 6 per cent this week, as the airline reported Rs 462.60 crore loss for the quarter. This is even as the operator reported a 52 per cent rise in second quarter operational revenue to Rs 2,845.3 crore, as the company added more destinations and expanded its fleet of passenger and freighter aircraft.

Lupin: Shares of Lupin advanced 3.3 per cent to Rs 742.30 after the drug maker sold its entire stake in its Japanese subsidiary Kyowa for $300 million to private equity firm Unison, as the seller expects fewer future incentives from Tokyo for generic drugs would make the business less attractive.

ADAG stocks: Besides, RCom, shares of four Anil-Ambani led ADAG group were among the worst performers this past week. Reliance Home Finance, Reliance Capital, Reliance Power and Reliance Industries fell 18.25 per cent, 18.25 per cent, 18.24 per cent and 17.85 per cent, respectively.


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