Voda Idea, Esab India & pharma names among top buzzing stocks

NEW DELHI: Domestic equity indices moved in sync with developed markets like the US last week, disregarding rising numbers of Covid casualties at home and simmering tensions between the US and China.Bank, cement and realty stocks were in heavy demand while pharma names suffered due to profit booking. Investors have been keenly watching management commentaries with March quarter earnings to assess the future impact of Covid lockdown.“Pharma firms' commentaries have not been encouraging given the existing pricing pressure from the US and the fact that the domestic market does not offer the runway for increased growth visibility. Cement and auto sector CEOs, on the other hand, have given the impression of near-term better outlook on the back of pickup in pent-up demand,” said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.Below are 10 stocks that kept buzzing throughout the week:Esab India: The welding equipment maker was the top BSE500 gainer during the week as it announced a dividend of Rs 70 per share. The company said it would result in an outflow of Rs 107.75 crore. Shares of the firm spiked 25.95 per cent to Rs 1,371 during the four-day week. EID Parry, Dhanuka Agritech: Shares of the companies involved in making fertilisers jumped during the last week as investors anticipated an increase in demand for pesticides following locust attacks in western and north India. EID Parry was among the biggest gainers, up 22.71 per cent to Rs 195 while Dhanuka Agritech rose 16.35 per cent to Rs 576.Vodafone Idea: Shares of the telco featured among the top gainers for the second consecutive week as reports suggested that Google could purchase a 5 per cent stake in the company. However, Vodafone Idea denied any talks. Shares rose 16.93 per cent to Rs 6.56 during the week.Federal Bank: Amid the buying frenzy in bank sticks during the week, shares of Federal Bank gained 16.91 per cent to Rs 44.95. Dalal Street analysts said FII buying in banking counters have led to the recovery.Orient Cement: Cement stocks came back to favour as investors hoped for a recovery in demand as construction projects resumed across India. Orient Cement was the biggest gainer among them during the week advancing 15.38 per cent to Rs 47.Prestige Estate, Godrej Properties: Realty stocks were also in demand during the week as market participants hoped for a recovery in demand as well as start of work in under construction projects. Prestige Estate added 14.88 per cent to Rs 157.15 while Godrej Properties climbed 14.39 per cent to Rs 688.85.Torrent Pharma, Lupin: Partly profit booking and partly activity around Q4 earnings were responsible for a drop in share prices of these drugmakers. Lupin reported a 34.55 per cent rise in its consolidated net profit to Rs 389.63 crore and Torrent Pharma reported a consolidated net profit of Rs 314 crore for the March quarter. Shares of Torrent Pharma were the biggest BSE500 loser, down 8.39 per cent to Rs 2,365 while Lupin fell 4 per cent to Rs 870.

from Economic Times https://ift.tt/2XOi7Np