Indian stocks made decent gains this week with the BSE Sensex that opened at 80,787.3 closing the week at 81.904.70 - gains of more than 1,120 points. Trends were similar on the NSE (National Stock Exchange) too.
There were ample positive cues that kept the Indian indices on a high note. GST reforms, positive announcements, and the lack of surprise-announcements ensured the markets traded higher.
There were at least ten prominent stocks that traded higher within this week. Here's a look at each of those scrips:
BAJAJ FINANCE
Shares of Bajaj Finance settled 7 percent higher this week. The company announced allotment of Non Convertible Debentures worth ₹ 1,350 crores. Also, the SEBI's revised set of announcements announced on Friday are believed to benefit Bajaj Housing Finance, a subsidiary, and thereby could influence Bajaj Finance in the coming week.
INDUS TOWERS
Although a fortnight ago, stocks of Indus Towers traded in the red, this week the stock has rebounded. The stock capitalized on favorable Buy ratings from brokerage analysts such as from Kotak Securities and Emkay and has posted decent gains for investors. Indus Towers was up by 7 percent this week.
BHARAT ELECTRONICS
The Defense PSU turned into an analyst's darling this week with agencies such as Choice Brokerage lavishing praises on its financial performance, order books, and strong revenue visibility. Bharat Electronics is up by 7.7 percent in the week.
INFOSYS
Infosys shares capitalized most of the social-chatter of an 18,000 crore share buyback plan. The stock is up by 5.6 percent this week.
SHRIRAM FINANCE
Besides recommendations, the company announced an ESOS (employee stock option scheme). Through this week, stocks of Shriram Finance traded upwards by 6.8 percent.
SAMVARDHANA MOTHERSON SUMI
Stocks of Samvardhana Motherson Sumi are not only trading upwards in terms of value but also in terms of volume. With a 10.7 percent jump in terms of value, the stock according to several analysts is trading over its 5-day, 20-day, and 50-day moving averages.
TUBE INVESTMENTS OF INDIA LIMITED
There has not been any specific news to explain the cause of Tube Investments' share jump, but volume trend has been noticed. Also, this stock has traded higher on three days of the week.
HINDUSTAN AERONAUTICS LIMITED
In a week where Defense and Energy stocks sizzled, Hindustan Aeronautics along with Bharat Electronics made sweet gains. HAL stocks have been up by 7.7 percent in this week.
WAAREE ENERGIES
This Borivali, Mumbai based green energy stock saw share-price jump by 12.9 percent. In addition to favorable numbers, the stock also had Buy ratings from several brokerage analysts.
GUJARAT FLUOROCHEMICALS
A casualty news about a facility of Gujarat Fluorochemicals did cast a shadow on the stock performance this week. But overall, the stock has gained 10.8 percent within the week.
Other stocks
Besides mainboard, stocks from other categories too witnessed a jump - in fact, a phenomenal double digit jump. The stocks that saw maximum upside are Divine Power (59.4 percent), Purv Flexipack (48.1 percent), Toyam Sports (43.5 percent), SAL Steel (42.6 percent), Oxford Industries (38.1 percent).
Disclaimer: This story is only for educational purposes and should not be construed as guidance to invest in any stocks.
