The week that was: Adani Power among stocks that were in the spotlight last week

NEW DELHI: The domestic stock market remained highly volatile last week due to elevated commodity prices and the resultant downgrade of future earnings growth. Prices of products have been increasing constantly and are expected to increase further in the future affecting both demand and margins, analysts said. However, buying was seen across sectors.

“The major focus of the market will be on the Russia-Ukraine war, movement in crude prices and RBI’s policy announcement due this week. Volatility is expected to continue in the market until commodity prices subside and supply constraints get resolved," said Vinod Nair, Head of Research at Geojit Financial Services.

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


Adani Power: Adani Power was the top gainer among BSE500 stocks, rising 42 per cent during the week. The company recently concluded acquisition of Essar Power MP. It is also experimenting with the usage of liquid ammonia in APMuL’s power plant at Mundra.

Inox Leisure, PVR: Shares of multiplex operators jumped after both entities announced their merger. Inox Leisure gained over 10 per cent and PVR rose nearly 5 per cent during the week.

DCM Shriram: The company that is involved in manufacturing sugar and ethanol surged 13 per cent as there were a number of fuel price hikes during the week. The company which is also active in the agricultural sector is set to benefit from rising prospects of the segment.

Adani Total Gas: Another Adani Group firm was in popular demand throughout the week as the company launched its first electric vehicle charging station in Ahmedabad. The counter advanced about 10 per cent.

Tata Coffee: Shares of the coffee exporter rose 10 per cent after a rise in prices amid tightening supply. Moreover, Coffee Board numbers suggested export of coffee from India has grown significantly in the bygone fiscal year.

GAIL (India): Gas distributor GAIL (India) advanced 10 per cent after it announced buyback offer. The company said it will buy shares worth Rs 1,083 crore from shareholders at Rs 190 per share.

Hindalco Industries: The biggest Nifty gainer of last fiscal year saw some profit booking in the first week of the new fiscal year, as the counter declined over 8 per cent.

Hero Moto: The stock fell about 6 per cent during the week, after news reports said the income tax department has unearthed a Rs 1,000 crore hole in its books. Moreover, its promoters also seem to be in trouble over their property purchase in Delhi.