NEW DELHI: Last week was lukewarm for Indian stocks, with some of the oxygen producers and insurance names being in vogue while pharma names under pressure.
Infra stocks were buzzing after the government announced a huge Rs 6 lakh crore National Monetisation Pipeline to unlock value in brownfield projects for infrastructure creation across the country. However, concerns of the realisation of the project kept investors on toes.
“Indian bourses are expected to face whipsaws post Fed’s Jackson Hole meeting outcome. Participants are eager to understand the timelines for gradual tapering of bond purchases to judge the mood on the Street. Profit booking may occur in certain overpriced stocks. However, investing in high quality companies in stages would be a smart strategy,” said Samco Research.
Here are some stocks that were under spotlight during the week:
Adani Group stocks: Shares of Adani Group were among the biggest gainers during the last week. Investors who had shunned the stocks recently due to some speculation over FII pulling out money, returned to them after the company’s clarification. was the top BSE500 gainer, rising 28 per cent. Adani Total Gas and Adani Power were other big gainers rising 24 per cent and 15 per cent, respectively.
New India Assurance: State-owned insurer New India Assurance gained 25 per cent after media reports suggested that the government is keen on privatising either GIC, United Insurance or New India Assurance in the future.
Linde India: Shares of the oxygen producer gained over 22 per cent after the Delhi government earlier this week announced a Medical Oxygen Production Promotion Policy that aims to make the capital self-reliant in terms of supply and production of medical oxygen
Hindustan Aeronautics: The shares of the defence manufacturer has been rallying after the company placed a massive order with GE Aviation for engines. The stock climbed 23 per cent during the week.
Ujjivan SFB: The small finance bank stock dived nearly 12 per cent during the week after the company’s Managing Director Nitin Chugh resigned. The company also made couple of changes at the director level during the week.
Wockhardt: Shares of the pharma company fell even as the company said it is partnering with Jemincare for novel respiratory antibiotic Nafithromycin. The stock was the biggest BSE500 loser, down 12 per cent.
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