Indian stocks closed flat on a weekly basis for a second consecutive time as macro data raised some concerns for growth outlook of the economy. For the week ended on November 15, the S&P BSE Sensex inched up by just 33 points, or 0.08%, to settle at 40,356.69, while the Nifty slipped marginally by 13 points, or 0.1%, to end at 11,895.30. Here is a look at the top five gainers and losers for the week:
TOP 5 GAINERS
Bharti Airtel: Bharti Airtel Ltd shares gained 6% this week after the firm posted a solid operating performance in the September quarter, but yet posted a net loss due to AGR liabilities.
ICICI Bank: ICICI Bank Ltd shares jumped 4.2% during the week as the Supreme Court delivered its verdict in Essar Steel case, saying the ultimate discretion on distribution of funds is with the Committee of Creditors (CoC) which mainly favours banks. ICICI Bank has an exposure of over Rs 2,500 crore in Essar Steel.
Yes Bank: Yes Bank Ltd was up 3.7% for the week after ratings agency ICRA said the bank has adequate liquidity for now. The rating agency maintained most of the ratings on YES Bank’s bonds.
Bajaj Finserv: Bajaj Finserv Ltd shares rose 2.5% this week to settle at Rs 9,057.90 apiece.
Zee Entertainment: Zee Entertainment Enterprises Ltd gained 2.5% this week after a media report said that promoter Essel Group is likely to sell the company’s shares to institutional investors soon via block trades.
TOP 5 LOSERS
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares dived 11.8% this week on reports that he government is confident of wrapping up the on-going probe against the company before 29 November, which is also the next date of hearing for the case in the Delhi High Court.
Vedanta: Vedanta Ltd shares cracked 11.7% during the week after the mining company reported a 44% year-on-year rise in consolidated profit at Rs 2,730 crore for the September quarter mainly due to a one-time deferred tax benefit of Rs 1,891 crore.
Hindalco: Hindalco Industries Ltd declined 8.5% this week after the company reported 33% year-on-year fall in its consolidated net profit for the September quarter on the back of global slowdown and lower commodity prices.
UPL: UPL Ltd shares dropped 8.2% during the week after the company’s quarterly profit missed estimates because of a one-time expense. Net profit was Rs 89 crore in the September quarter compared with a profit of Rs 270 crore a year ago.
Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) shares were down 6.2% for the week even as the company reported a 72% surge in its net profit in the September quarter to Rs 1,059.20 crore, boosted by a deferred tax write-back of Rs 290 crore.
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