Weekly Stocks Update: Top Gainers and Losers for the Week Ended January 10
The Sensex rose 135.11 points, or 0.32%, to end at 41,599.72, while the Nifty 50 index gained 30.15 points, or 0.24%, to settle at 12,256.80.
Image for representation. (Photo: Reuters)
Indian stock markets managed to add marginal gains during this volatile week as US-Iran tensions kept investors uncertain all across the world, but tensions eased after both the countries looked to defuse the crisis.
During the week ended 10 January, the Sensex rose 135.11 points, or 0.32%, to end at 41,599.72, while the Nifty 50 index gained 30.15 points, or 0.24%, to settle at 12,256.80. Here are the five major gainers and losers for the week:
UltraTech Cement: UltraTech Cement shares jumped 5.3% during the week on expectations that the government’s recently announced infrastructure push will lead to a hike in cement prices on the back of increased demand.
Tata Motors: Tata Motors Ltd shares rose 2.8% this week after the company’s UK subsidiary Jaguar Land Rover (JLR) reported a 1.3% rise in retail sales at 52,814 vehicles for December 2019 compared with a year ago.
Mahindra and Mahindra: Mahindra and Mahindra Ltd (M&M) shares were up 2.6% for the week after the auto company said credit rating agency CARE reaffirmed long-term rating on bank loan facilities at AAA with a stable outlook, while the short-term rating was reaffirmed at A1+.
Adani Ports: Adani Ports and Special Economic Zone Ltd shares advanced 2.5% during the week after rating agencies Fitch and Moody’s said the company’s Rs 5,500-crore acquisition of Krishnapatnam Port will not impact its ratings despite raising its debt.
Asian Paints: Asian Paints Ltd shares added 2.4% this week on value-buying after the stock slipped last week when crude prices surged after the US-Iran flare-up.
Yes Bank: Yes Bank Ltd shares tumbled 5% this week after the lender’s audit committee chairman Uttam Prakash Agarwal resigned as independent director, citing concerns over corporate governance at the private lender.
HPCL: Hindustan Petroleum Corp. Ltd (HPCL) shares declined 3.9% during the week as international crude oil prices soared on rising geopolitical tensions.
Zee Entertainment: Zee Entertainment Enterprises Ltd continued to be one of the top losers for a second week, slipping 3.9% this week, after TRAI revised rules for DTH and cable TV tariffs.
Eicher Motors: Eicher Motors Ltd shares slid 3.6% during the week as the stock remained under pressure for a second week after the maker of the Royal Enfield motorcycles reported weak sales for the month of December.
ONGC: Oil and Natural Gas Corp. Ltd (ONGC) shares were down 3.4% amid a broader decline in the oil and gas index.
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