TOP MOVERS

In a rather tame week, the Sensex and Nifty were down by 0.6 per cent each. The broader BSE 500 was down by 0.4 per cent. Negativity surrounded the markets as manufacturing growth was down to a seven-month low of 6.3 per cent.

Bajaj Finserv, which gained just under 11 per cent, was the top gaining scrip in the BSE 200. The company's subsidiary, Bajaj Finance, is reportedly raising Rs 750 crore through QIP and preferential issue to fund business expansion.

Infrastructure major IVRCL gained 8.8 per cent this week as the company reported it had bagged projects worth Rs 900 crore. Among the top gainers of the week was Sun TV Network which gained 8.4 per cent through the week as investors bought in on the possibility that last week's correction was overdone. The stock was among the top losers last week.

Pantaloon Retail gained 5 per cent through the week on reports that the government may be considering a move to allow foreign holdings of up to 51 per cent in multi-brand retail. The company which is also in the process of re-aligning its holdings is said to have completed the transfer of Big Bazaar and Food Bazaar to Future Value Retail .

Investors seemed buoyed by the entry of HavellsIndia into small consumer appliance segment (includes mixers, irons, hand blenders and cooking and brewing) as the stock gained 4.5 per cent through the week. The stock of KSK Energy Ventures added 3.7 per cent as its Wardha project is slated to be among those to receive coal for power generation from Coal India. Apollo Tyres added 3.6 per cent to its market cap as investors greeted its push into West Asia positively.

There are reports indicating the possibility of the ongoing strike at Maruti Suzuki spreading to other companies in the vicinity, including Hero Honda, Honda Motorcycle and Scooter and Rico Auto . This possibly led the shares of Hero Honda to close lower by 7.25 per cent. One of the leading suppliers to the domestic automobile segment, battery-producer Exide was also among those hit hard, shedding six per cent through the week.

Reports of ICICI Bank's decision not to pick up securitised loans from NBFCs such as Shriram Transport Finance pushed the stock of the latter down by 7.5 per cent. Several non-captive mine steel producers, including Bhushan Steel and JSW Steel shed eight and four per cent respectively as concerns remain over high-raw material costs translating into weaker margins in the ongoing and coming quarters.

COMMENT NOW