Weekly Stocks Update: Top Gainers and Losers for the Week that Ended September 13
The benchmark S&P BSE Sensex rose 403.22 points, or 1.09% to 37,384.99 in the week ended 13 September, while the Nifty 50 index climbed 129.70 points, or 1.2% to 11,075.90.
Indian stock markets continued to remain volatile in a holiday-shortened week, but managed to clock weekly gains of over 1% as strong possibility of a rate cut by the central bank in the next review meet triggered a recovery in the rate-sensitive pack like banking and real estate stocks. The benchmark S&P BSE Sensex rose 403.22 points, or 1.09% to 37,384.99 in the week ended 13 September, while the Nifty 50 index climbed 129.70 points, or 1.2% to 11,075.90. Here are the top five gainers and losers for the recently-concluded week:
TOP 5 GAINERS
Yes Bank: Yes Bank shares advanced 13.5% during the week amid speculations that there may be a change in the bank’s shareholding as various stake sales report circulated in the media. The bank’s founder Rana Kapoor reportedly initiated talks with Paytm to sell his entire stake in the bank for up to Rs 2,000 crore. Separately, news agency Reuters reported that CEO Ravneet Gill has said that the bank is close to selling a minority stake to a global tech company as part of its capital-raising exercise.
BPCL: Shares of oil marketing company Bharat Petroleum Corp. Ltd (BPCL) climbed 7.8% this week on reports the government is planning to sell stake in the state-run firm to a global oil company.
Tata Motors: Tata Motors Ltd shares zoomed 6.9% during the week after the company’s subsidiary Jaguar Land Rover (JLR) clocked better-than-expected retail sales in China, rising 17.4% year-on-year in August.
SBI: Shares of State Bank of India (SBI), the country's largest lender, jumped 6.5% this week after the bank said it will raise up to Rs 3,465 crore by selling up to 4.5% stake in its insurance arm SBI Life Insurance Company, subject to requisite approvals.
Hindalco: Shares of Hindalco Industries Ltd rose 6.3% during the week amid a sharp rally in metal stocks.
TOP 5 LOSERS
Zee Entertainment: Zee Entertainment Enterprises Ltd shares dropped 3% during the week. Subhash Chandra-led Essel group received the first instalment of money from its stake sale in the firm as it raced to meet a month-end payment deadline.
HCL Technologies: Noida-based HCL Technologies Ltd (HCL) slipped 2.9% this week after the company announced it has acquired a 100% stake in Sankalp Semiconductor, a technology design services firm, for Rs 180 crore.
TCS: Tata Consultancy Services Ltd shares fell 2.6% during the week as IT shares declined due to a strengthening rupee against the dollar.
Wipro: Wipro Ltd shares lost 2.5% this week amid reports that Azim Premji and the promoter group have sold stock worth over a billion dollars (Rs 7,300 crore) in the buyback programme announced by the company.
NTPC: NTPC Ltd shares slipped 2.3% on news that finance and power ministries are in advanced talks to merge smaller power companies with NTPC and NHPC.
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