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Fast & Furious! These 20 stocks gave up to 50% return in a week; do you own any?

Stocks which led the rally on D-Street include names like Jaiprakash Associates which rose 49.82 percent, followed by MMTC which gained 47.16 percent, and Vakrangee rallied 26 percent in just five trading sessions.

March 19, 2018 / 09:50 IST
     
     
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    Kshitij Anand

    India market which started with a positive note last week failed to hold on to the momentum and consolidated in a narrow range to close 0.3 percent lower for the week ended March 16 but nearly 300 stocks from the S&P BSE 500 index gave positive returns in the same period.

    The large part of the bounce was led by short coverings and the technical picture still remain week for Nifty as long as the index is trading below its key short-term moving averages. A crack below 100-days exponential moving average (DEMA) and 5-DEMA on Friday fuelled further weakness.

    The index came under pressure but there were as many as 21 stocks which rose in the range of 10 percent to about 50 percent in a week. Stocks which led the rally on D-Street include names like Jaiprakash Associates which rose 49.82 percent, followed by MMTC which gained 47.16 percent, and Vakrangee rallied 26 percent in just five trading sessions.

    Jaiprakash Associates witnessed buying interest as investors cheered developments around the bid for Jaypee Infratech. Apart from that Rakesh Jhunjhunwala bought 3 crore shares in the company at an average price of Rs18.37 which fuelled further momentum in the counter.

    Other stocks which rose over 10 percent include names like HEG, Graphite India, TV Today, Jindal Stainless, Syndicate Bank, Jai Corp, Canara Bank, Allahabad Bank, Hindustan Copper, Venky’s India, Oriental Bank of Commerce, PC Jewellers, Dena Bank, and Indian Bank.

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    In the smallcap space stocks which outperformed benchmark indices include names like 63 Moon Technologies, Indosolar, RattanIndia Infrastructure, HEG Ltd, Graphite India, Jaiprakash Power Ventures, Tata Teleservices, TV Today Network, Sanghvi Movers, Adhunik Industries, Syndicate Bank, and KSK Energy Ventures etc. among others.

    The S&P BSE Smallcap index has been resilient, it rose by about 2 percent compared t0 nearly 0.4 percent fall in the S&P BSE Sensex for the week ended March 16.

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    Factors impacting markets:

    The global market recovered after fears of trade wars abate but uncertainty on the political front fuelled bearish bias on D-Street. Apart from that weak current account deficit data which came out on Friday will weigh on D-Street this coming week.

    D-Street turned slightly cautious after the Telugu Desam Party (TDP) finally decided to quit the National Democratic Alliance (NDA). Additionally a subdued performance in UP bypolls whether the current government can make it back to the centre again next year.

    "Market's in my view had more or less factored in TDP's exit from the NDA after its Ministers' exit from the Union Cabinet and the vociferous disruption of the ongoing session by its MPs of both the Houses of Parliament,” Ajay Bodke, CEO & Chief Portfolio Manager PMS Prabhudas Lilladher told Moneycontrol.

    “BJP's shock defeat in the UP by polls and the prospect of SP and BSP forming an alliance in 2019 polls and it's likely adverse impact on BJP's tally from UP in 2019 is what has got the market concerned,” he said.

    It will be crucial for the BJP to trounce Congress in the upcoming State elections in Karnataka and more importantly overcome anti-incumbency and retain power in MP, Chattisgarh, and Rajasthan.

    Bodke further added that Indian markets now face twin challenges - a rampaging Trump trying to wage a trade war with US' trading partners and its disruptive fallout on global trade as well as political issues weighing on the Indian domestic front.

    The downside tough looks limited in Indian equities due to a likely strong rebound in corporate earnings over the next 2 quarters and easing of global oil prices providing a relief on the macro front, he further added.

    Moneycontrol News
    first published: Mar 19, 2018 08:22 am

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