Among the sectoral pack, defensives like IT, FMCG and pharma did well while others remained under pressure. The broader indices witnessed a mixed trend, wherein the midcap ended with a cut of a percent and smallcap closed on a flat note.
“The final week of the calendar year is expected to remain volatile, thanks to the scheduled expiry of December month derivatives contracts. Besides, the updates on COVID cases will further add to the choppiness,” said Ajit Mishra, VP Research, Religare Broking.
Here are 10 stocks that were in the spotlight during the week:
Zee Entertainment: The stock was the focal point of the week as Zee Entertainment and Sony India inked merger pact. The stock, however, ended down over 3 per cent as investors preferred to book profits. Analysts, however, believe that the stock has a lot of upside left.
Tata Teleservices: After a 21-fold return in the last year, shares of Tata Teleservices saw a rare profit booking during the week. The stock ended down over 14 per cent and was the biggest loser in the BSE500 pack.
Teamlease Services: Shares of Teamlease Services declined 12 per cent during the week after it announced the merger of Evolve Technologies & Services and TeamLease Digital. The stock was also impacted due to restrictions imposed by many states in India.
EIH, Indian Hotels: The company that manages Oberoi Group of hotels saw a 9 per cent decline in its shares as the Omicron variant of coronavirus spread its legs. The company may lose its ground if the pandemic worsens. A similar reason also hit the shares of Indian Hotels. The stock fell down over 7 per cent.
Shriram Transport: Shares of Shriram Transport Finance dropped about 8 per cent after the company announced a complex restructuring of its businesses. This week’s downfall added to the 15 per cent drop in the previous week. Shriram Group announced that Shriram Capital and Shriram City Union Finance will merge with it as part of the group’s corporate restructuring. The merged entity, Shriram Finance, would be the largest retail finance NBFC in the country.
Minda Industries: Shares of the auto-parts maker were in demand after the company held an analyst call following announcement of a joint venture with FRIWO, a manufacturer of power supply units and e-drive solutions. The stock climbed 13 per cent.
KPIT Tech: Shares of KPIT Tech advanced 12 per cent after the company’s management in a media interaction outlined its progress and future plans in a media interaction. The management said it has signed major deals in the hydrogen cell field. They added that its profit may grow 18-20 percent in FY22.
HCL Tech: Shares of the IT major rose 8 per cent ahead of a proposed stake buying by its promoters. The stock also benefited from a conducive environment for IT stocks amid falling rupee.
Allcargo Logistics: Shares of the company climbed 8 per cent after the firm announced demerger of CFS/ICD and real estate businesses. Under the scheme of demerger, all three companies will have mirror shareholding, resulting in no change in entitlement of shareholders for each entity.