Weekly Stocks Update: Check Top Gainers and Losers for the Week ended on September 27, 2019
Last week was a bumper week as far as stock market was concerned. FM
Nirmala Sitharaman cut corporate tax rates for domestic companies to 25%. Market
saw its biggest gains in last 6 months. Both BSE Sensex and NIFTY jumped 2.1%
Now let’s check top five gainers and losers for the recently-concluded
week:
TOP 5 GAINERS
The gainers are mostly from Oil & Finance space
BPCL: Shares of Oil PSU Bharat Petroleum Corp. Ltd
(BPCL) zoomed 16.3% this week on reports that the government is considering
selling its entire stake to a global oil firm by FY end.
Bajaj Finserv: Bajaj Finserv Ltd shares
rose 11.1% during the week as analysts expected that the earnings boost
after the cut in corporate tax rate will give non-banking financial companies
(NBFCs).
HPCL: Shares of Hindustan Petroleum Corp. Ltd
(HPCL) gained 10.3% this week amid slide in crude oil prices by over 1% during the week.
IOC: Shares of Indian Oil Corp. Ltd (IOC) also climbed 9.8% during the week amid broad rally in oil stocks due to a fall in crude oil prices, as mentioned
earlier.
Bajaj Finance:
Like its twin Bajaj Finserv, Bajaj Finance Ltd also became one of the top Nifty
gainers, rising 9.6% this week due to cut in corporate tax structure
TOP 5 LOSERS
Surprise Surprise! Top losers were also from banking & finance
space. This shows how crucial stock selection is
Yes Bank:
Yes Bank Ltd shares declined 12.2% during the week after one of the promoter
entities, Yes Capital, sold nearly 1.8% stake in the bank. Sometime bank, its promoter Mr Rana Kapoor famously said that Yes Banks share are "Jewel" and he wont sell shares in his lifetime.
Tata Motors:
Tata Motors Ltd shares tumbled 10% this week after its subsidiary Jaguar Land
Rover (JLR) said it was planning to close its UK factories for limited time in
November due to possible no-deal
Brexit.
Zee Entertainment:
Zee Entertainment Enterprises Ltd (ZEEL) shares declined 9.2% this week after
some mutual funds sold pledged shares of the company. Now its promoters have got an extension of up
to six months to pay their dues from most of the mutual funds after the initial
deadline ended in September 2019.
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd
dropped 8.9% this week after a news report suggested that the Delhi High Court
has admitted petitions to probe the company. The petition alleged that
Indiabulls Housing gave “dubious loans” worth billions to shell companies
through firms owned by the group’s founders.
SBI: State Bank of India (SBI) shares lost
6.8% during the week after Morgan Stanley downgraded the stock to ‘equal-weight’
from ‘overweight’ with target at Rs 330 per share.
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