NEW DELHI: The last week was a weak one for the stock market as most sectors were under selling pressure. Critical conditions at the Russia-Ukraine border and rising inflation continued to dictate proceedings on Dalal Street. In the BSE500 index, nearly 125 stocks ended the week with gains while the rest recorded losses.
“In absence of any major event, the focus would remain on the Russia-Ukraine tension and its impact on global markets. Besides, the scheduled monthly expiry of February month derivatives contracts would further add to the choppiness. The recent pause in the index indicates caution and it will only ease with stability in the global markets,” said Ajit Mishra, VP Research, Religare Broking.
Below are some of the key names that were in the spotlight during the week:
Solara Active Pharma: Shares of the company were in demand during the week as the company announced Rajender Rao Juvvadi as Managing Director & CEO. Prices of the stock rose 24 per cent during the week.
RHI Magnesita: Shares of the company, earlier known as Orient Refractories, were also in demand during the week after it reported a sharp jump in net profit for the December quarter. The stock added 13 per cent.
Uflex: The packaging and plastic maker said its December quarter numbers nearly doubled compared to last year, lifting the outlook on company shares. The stock eventually ended up 10 per cent during the week.
Lemon Tree Hotels: Shares of the hotel operator climbed over 5 per cent during the week after the company said it has acquired a 25.10% stake in Carnation Hotels Private Limited. An improving situation on the pandemic front also worked in its favour.
Crisil: Shares of the ratings services provider also advanced about 5 per cent after the company announced a dividend of Rs 22 per share as part of its December quarter earnings.
IndiGo, SpiceJet: Shares of airline companies were under pressure as air turbine fuel prices hit record highs. Surging fuel prices will hit already thin margins of companies. IndiGo was down over 6 per cent and SpiceJet about a per cent.
Muthoot Finance, Manappuram Finance: Gold financiers suffered during the week despite gold prices shooting past Rs 50,000 level. Muthoot Finance declined 7 per cent and Manappuram Finance tanked over 20 per cent.
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