The Indian stock markets had a strong week, with the benchmark indices hitting fresh record highs, but investors started booking profits towards the end in anticipation of weak gross domestic product (GDP) data. In the week ended November 29, the benchmark S&P BSE Sensex managed to add 437.12 points, or 1.07%, to end at 40,793.81, while the Nifty rose 141.6 points, or 1.18%, to end at 12,056. Here is a look at the top five gainers and losers for the week:
Top 5 gainers
Bharti Infratel: Bharti Infratel Ltd shares surged 19.1% this week amid a broader rally in telecom stocks.
IndusInd Bank: IndusInd Bank Ltd shares continued their rally this week as well, jumping 8.5% during the said period, as investors take into account the better-than expected results for the September quarter.
UPL: UPL Ltd shares jumped 7.5% during the week even as Moody's Investors Service changed the outlook on UPL Corporation’s ratings to stable from positive
Tata Steel: Tata Steel Ltd shares climbed 6.9% this week after the company announced restructuring plans for its European business, which would include up to 3,000 job losses – 1,000 of which will be in the UK.
Yes Bank: Yes Bank Ltd shares were up 5.4% for the week ahead of the board meeting that was scheduled for Friday. After market hours, the lender announced that it would raise nearly $2 billion in a share sale with a Canadian billionaire Erwin Singh Braich buying more than half of it.
Top 5 losers
Zee Entertainment: Zee Entertainment Enterprises shares were down 18.2% this week after the resignation of its promoter Subhash Chandra. Two former directors – Subodh Kumar and Neharika Vohra – along with non-independent director Subodh Kumar also resigned from the Zee board on 25 November.
L&T: Larsen and Toubro Ltd (L&T) shares were down 3.5% for the week after Credit Suisse downgraded the stock to ‘neutral’ from ‘outperform’ in the long term and revised target price down to Rs 1,460 from Rs 1,750.
M&M: Mahindra and Mahindra Ltd (M&M) shares slipped 2.8% this week after a US International Trade Commission (ITC) judge ruled that its off-road vehicle Roxor violated Fiat Chrysler Automobile’s (FCA) Jeep ‘trade dress’ and recommended an exclusion order prohibiting import and sale of any already imported parts of the vehicle.
Power Grid: Power Grid Corporation of India Ltd shares fell 2.74% during the week as the company starts preparing for its proposed Infrastructure Investment Trust (InvIT), the first by a government company.
HPCL: Hindustan Petroleum Corp. Ltd (HPCL) shares dropped 2.67% this week amid a broader decline in the oil and gas index.
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