Stock Market Analysis: The Week You Were In 10 Stocks: Sunflag Iron Rises 52%, Refinery And Energy Stocks Rebound

New Delhi: Domestic equity markets ended the week on a negative note. Disappointing gains from index heavyweights and aggressive comments from the Federal Reserve dragged markets lower.

The benchmark BSE Sensex and Nifty 50 indices fell as much as 2 percent for the week, while second-tier small- and mid-cap stocks sold off almost unchanged or marginally lower.

Most sector indices finished lower for the week, with the banking, metals and pharmaceuticals sectors the main losers. However, power and energy ratings were in demand.

Ajit Mishra, Vice President of Research. Religare Broking said markets were volatile and ended lower, following mixed signals. The broader indices, midcap and smallcap, also closed in the red.

Domestic signals such as weak earnings from Infosys and HDFC Bank dragged the indices lower, which deteriorated further in reaction to weak global signals. The aggressive statements from the US Fed turned the situation back in favor of the bears, he added.

In the BSE 500 index, more than 335 stocks ended the week with gains while the rest posted losses. As many as 19 stocks gained double digits for the week, while the same number of shares fell more than 10 percent.

Below are the key stocks that were in the spotlight in the last week:

Sunflag Iron and Steel Company: The small-cap iron and steel player rallied more than 52 per cent to Rs 128.2 last week on the back of strong volumes and a reaffirmation of CARE Ratings’ credit ratings. The scrip is up 90 percent in the last 11 sessions.

Corporation: The Indian Oil Corporation subsidiary was in high demand, rising 36 per cent to Rs 238.3 last week, ahead of its board meeting scheduled for Friday, April 29, to consider and approve earnings and the fourth quarter dividend, if applicable.

Mangalore Refinery and Petrochemical: The ONGC subsidiary soared another 33 per cent to Rs 69.8 during the week as analysts expect an improvement in gross refining margin (GRM) during the fourth quarter of 2021-22.

Minda Corporation: The auto parts and equipment maker surged 21 percent to Rs 271.2 for the week after positive brokerage reports, upbeat on the company on strong order gains and healthy earnings visibility for the company.

India NLC: The state-owned coal miner has come under the spotlight as it is seen as one of the main beneficiaries of power shortages, which will boost demand for the company. It jumped 19 per cent to Rs 81 during the week.

adani power: Adani Group shares gained 16 percent to Rs 259.2, their new 52-week high, ahead of the company’s likely inclusion in the MSCI India Index at the next semi-annual review. The market capitalization of the company is a bit shy of Rs 1 lakh crore mark.

Birla tires
: The tire maker fell 24 per cent to Rs 17 for the week after the company reported a widening net loss to Rs 444.95 crore in the March 2022 quarter, down more than 95 percent on sales.

INEOS Styrolution India: The small-cap specialty chemicals player lost 22 per cent to Rs 852.65 over the past week as the promoter launched an offer to sell (OFS) to offload up to a 14.4 per cent stake in the business. The company set the offer price at Rs 800 per share.

Larsen & Toubro Infotech: The mid-cap IT player lost 16 per cent to Rs 5,091.45 for the week after the company reported a muted set of numbers in the quarter ending March 31, 2022. The company was also rumored to merge with Mindtree, but reports of his termination were denied.

Real estate: The property player fell more than 12 per cent on the week to Rs 95.4 after the company raised Rs 865 crore through QIP, offering 85,559,435 equity shares for Rs 101.10 each. The fundraising resulted in an overall dilution of 15.8 percent for current shareholders, the company said.

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