The week that was in 10 stocks: YES Bank top Nifty loser; Bajaj Fin hits new high & IRCTC IPO

Benchmark equity indices BSE Sensex and NSE Nifty registered their biggest weekly gains in four months for the week ended September 27. Investor sentiment remained upbeat in equity market after Finance Minister Nirmala Sitharaman last Friday said that India has become a highly competitive investment destination post corporate tax reduction as the rates are now lower than that in China and most Southeast Asian countries.

The 30-share Sensex added around 2.13 per cent, or 808 points, to 38,822, while the 50-share Nifty index gained 2.11 per cent, or 238 points, to 11,512.

Below are the top stocks and sectors that buzzed through the week.

IPO update
IRCTC: Online ticketing, tourism and the catering arm of railways, Indian Railway Catering and Tourism Corporation (IRCTC) during the week said it is mulling to raise up to Rs 645 crore through an initial public offering (IPO). The price band of the public offer is fixed at Rs 315-320 per equity share.

SAMHI Hotels: The company has filed its draft papers with markets regulator Sebi to float IPO. The initial public offer comprises a fresh issue of Rs 1,100 crore and an offer for sale (OFS) of 1,91,45,624 equity shares, as per the draft red herring prospectus (DRHP).

Top Nifty gainers
Shares of BPCL gained over 16 per cent to close at Rs 469.70 on September 27 from Rs 403.70 on September 20. Oil marketing companies hogged limelight after crude oil prices slid over 1 per cent during the week and US crude stockpiles unexpectedly rose. The sentiment also got a lift after Saudi Arabia maintained a faster-than-expected recovery of its oil production. Besides, BPCL gained amid reports that the government is considering selling its stake to a global oil company. Bajaj Finance and Bajaj Finserv also rallied 10 per cent and 11 per cent, respectively, during the week.


Top Nifty losers
With a fall of 12 per cent, YES Bank stood as the top loser in the Nifty pack. The scrip declined to Rs 48.80 from 55.50 during the week. It was followed by Tata Motors (down 10 per cent), Zee Entertainment (down 9 per cent) and State Bank of India (down 6.78 per cent).

Yes Bank came under pressure after YES Capital (YCPL), one of the promoter entities of the lender, sold nearly 1.8 per cent stake in the bank. YCPL sold 46.5 million shares at Rs 51.94 apiece. The proceeds will be utilised to prepay the entire balance outstanding NCDs of YCPL subscribed by various schemes of Franklin Templeton Asset Management.

Stocks that rallied up to 28 per cent
As many as 34 stocks in the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. The list included Shipping Corporation (up 28 per cent), Century Plyboards (18 per cent), MOIL (18 per cent), IDBI Bank (17 per cent) and Shilpa Medicare (16 per cent). BPCL, Indiabulls Integrated Services, Rashtriya Chemicals, General Insurance Corporation and Sudarshan Chemical also advanced between 14-16 per cent.

Scrips that cracked up to 22 per cent
As many as 18 stocks in the BSE500 universe plunged in double digits during the week. Coffee Day Enterprises lost 22.50 per cent, followed by ITD Cementation (19 per cent), Reliance Power (17 per cent), Suzlon Energy (17 per cent) and HEG (15 per cent). Strides Pharma Science, Edelweiss Financial Services, Sun Pharma Advanced Research, Indiabulls Real Estate and Indian Bank were among other firms that also fell over 10 per cent during the week.

Scrips at fresh life lows/highs
In the BSE500 index, shares of Rites, HDFC Life Insurance, PI Industries, KEI Industries, Berger Paints, Manappuram Finance, Whirlpool of India, Bajaj Finance and Fine Organic stood among 45 firms that scaled new all-time highs. On the other hand, Coffee Day Enterprises, Reliance Power, Reliance Capital, Reliance Infra, Suzon Energy, The New India Assurance and UCO Bank hit their new all-time lows.

Sectoral update
Sector-wise, BSE Oil & Gas, FMCG and Bankex gained over 1 per cent each during the week. However, BSE Healthcare, Metal, Telecom, TECk and IT declined between 1-2.50 per cent.

Piramal tanks nearly 7 per cent
Shares of Piramal Enterprises declined nearly 7 per cent to Rs 1,726.60 per cent from Rs 1849.60 on September 20. The scrip came under pressure amid reports that SoftBank may shelve its investment plan in the company.

Mid, Smallcaps underperform
Broader market underperformed the benchmark indices with mid and smallcap indices on BSE gaining nearly 1 per cent each for the week ended September 27. IDBI Bank (up 23 per cent), ICICI Securities (up 22 per cent), Sun TV (up 21 per cent) and Motilal Oswal Financial Services (up 20 per cent), Cholamandalam Investment (up 19 per cent) and Godrej Properties (up 18 per cent) stood among top gainers in the midcap index for the week ended September 27.