Anil Ambani group firms among top stock performers
The Ambani groups have gained maximum benefit in stocks last week.
Mumbai: Three companies in the Reliance Anil Dhirubhai Ambani Group were among the five top-performing stocks of the S&P CNX Nifty of the National Stock Exchange (NSE) last week, all of them outshining the 50-share index by a wide margin.
With a gain of 52.7 per cent, Reliance Capital was the best performer among the Nifty stocks. The broader index itself rose 15.44 per cent, in which Infosys turned out to be the worst performer with a net loss of 4.43 per cent, data with the bourse showed.
Realty major Unitech came next with 36.65 per cent gain, followed by Reliance Infrastructure, up 36.71 per cent, Reliance Communication, up 35.85 per cent and Tata Steel, up 33.69 per cent.
Reliance Industries, which has the largest market capitalisation and belongs to the Mukesh Ambani group, could gain just 12 per cent, which was below the 15.44 per cent rise logged by Nifty.
Reliance Communications also outperformed the market leader in the telecom market, Bharti Airtel, which moved up just 7.47 per cent, as per data with the stock market.
Besides Infosys, the other losers during the week under review were Cipla, down 3.44 per cent, Wipro, down 2.18 per cent, Tata Consultancy, down 1.55 per cent, ITC, down 1.32 per cent and Sun Pharma, down 0.91 per cent.
On the other hand, State Bank of India, Larsen and Toubro, Tata Motors, Steel Authority and DLF made up the five other stocks that figured in the list of top 10 performers and rose at a pace higher than the Nifty.
The week under review was one during which the stock markets gave a resounding welcome to the electoral victory for the Congress-led United Progressive Alliance (UPA).
The investor frenzy that followed forced the suspension of trading for the day May 18 after indices hit upper circuit filters twice within seconds.