The BSE Sensex inched up 8.14 points, or 0.03 per cent, to settle the week at 32,028.89. The NSE barometer Nifty50 rose 28.90 points, or 0.29 per cent, for the week, to settle at 9,915.25.
Global markets remained mixed during the week, with China’s Shanghai Composite, Hong Kong’s Hang Seng and UK’s FTSE 100 rising up to 1.20 per cent, but German DAX declining 3.10 per cent (on strong Euro). Japanese Nikkei settled 0.09 per cent lower.
Here’s a look at domestic stocks that hogged the limelight in an otherwise silent week:
ITC: Shares of ITC, which witnessed their biggest one-day fall (13 per cent) in 25 years on Tuesday, finally closed the week down 14.44 per cent at Rs 288.50. The stock fell as GST Council on Monday raised the cess on cigarettes to take away an estimated Rs 5,000 crore annual windfall manufacturers could have reaped from lower GST rates.
RIL: The company during the week became the second company after TCS to hit Rs 5 lakh crore mark in m-cap. Strong quarterly earnings and announcement of bonus issue pushed the stock 3.6 per cent higher for the week to Rs 1,586.20.
Jaiprakash Associates: This stock surged 28.19 per cent for the week to Rs 26.60 after the June quarter shareholding data suggested ace investor Rakesh Jhunjhunwala picked up 2.5 crore shares, or 1 per cent stake in the company during the quarter. It is not known whether Jhunjhunwala owned any stake prior to this as individual shareholders’ holding details show up on exchanges only if the total stake held is above 1 per cent.
Sterlite Technologies: The stock zoomed 38.7 per cent during the week to Rs 222.15 on Friday after the company posted about 61 per cent jump in consolidated net profit at Rs 60.59 crore for the quarter ended June. The company logged the highest-ever quarterly export sales of Rs 320 crore and highest orderbook of Rs 3,140 crore at the end of this quarter.
Jubilant FoodWorks: Shares of Jubilant FoodWorks jumped 7.5 per cent during the week to Rs 1,253.25 on Friday after the company posted a 25.53 per cent increase in June quarter net profit to Rs 23.84 crore, helped by increase in same store sales growth of Domino’s Pizza. Brokerage firm HDFC Securities upgraded Jubilant Foods to ‘Buy’ from ‘Neutral’ with a target price of Rs 1,405.
Balaji Telefilms: This stock gained 8.3 per cent for the week after Mukesh Ambani-led Reliance Industries bought 24.9 per cent stake in the media company for Rs 413.28 crore. RIL has picked up 2.52 crore preferential shares of Balaji Telefilms at Rs 164 apiece, making a total investment of Rs 413.28 crore.
HPCL, ONGC: Shares of HPCL fell 5.32 per cent during the week to Rs 367.25, while those of ONGC advanced 3.78 per cent to Rs 164.55 after the Cabinet gave the company an in-principle approval to sell the government’s entire 51.11 per cent stake in HPCL to ONGC.
Just Dial: This stock hogged limelight after the company said its board will consider share buyback proposal on July 24. Several broking houses recently downgraded the ratings of the stock and cut EPS forecast citing margin pressure. Buybacks usually drive up share prices or stem a fall. The stock rose 6.6 per cent for the week.
Atlas Cycles: The stock was up 8.3 per cent for the week after the company informed bourses that a meeting of the board will be held on August 4 to consider and approve sub-division of the equity shares of the company.
Religare Enterprises: Shares of Religare Enterprises plunged 12 per cent after rating agency India Ratings downgraded RHC Holding’s NCDs to default. RHC Holding, along with Oscar Investments, jointly owns the company. It also informed exchanges that several units of its group suffered a cyber attack, but its sensitive client information were secure.