The week that was in 10 stocks: YES, OBC, Voda stole the show

NEW DELHI: Back-to-back big falls in US stocks amid fear of coronavirus outbreak and back home concerns over possible cascading effect of the YES Bank crisis sent domestic indices tumbling during the week gone by.

Sensex fell 720 points, or 1.88 per cent, for the week to close at 37,576. Nifty dropped 212 points, or 1.89 per cent, to 10,989. Amid all this, a handful of stocks saw strong volatility and were in the news for reasons good or bad.

Here is a list of stocks that saw sharp price action during the week:


YES Bank: The lender’s shareholders were in shock, as the scrip lost 53 per cent of its value in five sessions to close at Rs 16.20 on Friday. The stock tumbled after RBI capped the withdrawal limit for bank customers at Rs 50,000 and superseded the bank board for a period of 30 days.

OBC: In an otherwise poor week for PSU banks, shares of OBC surged 39 per cent to Rs 48.40 after PNB said it has approved the merger of the bank with itself. OBC shareholders will get 1,150 shares of PNB for every 100 shares held.

RCom: This stock climbed 20.58 per cent for the week to Re 0.80 after lenders approved a Rs 23,000 crore resolution plan. Under the scheme, RCom and its subsidiary Reliance Telecom will go to UVARC whereas the tower company Reliance Infratel will go to Reliance Jio for a total consideration of Rs 20,000-Rs 23,000 crore.

SpiceJet: Worries over coronavirus impact on air travel have overshadowed the positive influence of weak crude prices on the aviation counter. The scrip fell 24.1 per cent to Rs 63.20 during the week.

3M India: Shares of 3M India was on a roll amid reports that sale of face masks, sanitizer and gloves have soared in the country amid the coronavirus fears. 3M India, a subsidiary of 3M Corporation, manufactures over 8,000 products including personal healthcare and safety products such as face masks and sanitisers. The scrip gained 9.75 per cent for the week to Rs 22,638.

PVR, Inox Leisure: Fears that spread of coronavirus in India will hit footfalls on multiplexes hurt multiplexes, as shares of PVR and Inox Leisure plunged 14 per cent each last week. “Though the Coronavirus phenomenon is low in India, the impact on profitability of multiplexes could worsen if this increase going ahead,” Edelweiss Securities said.

Vodafone Idea: AGR dues continued to haunt Vodafone Idea, who according to sources, was asked by the government to pay AGR dues as per the Supreme Court order without further delay. By the end of the week, there were reports that Vodafone Idea was exploring options to try and pay another Rs 3,500 crore in the next few days toward adjusted gross revenue (AGR) dues.

Godrej Consumer Product: This stock jumped 13.9 per cent to Rs 638.30 after Credit Suisse upgraded it after a significant de-rating in recent times. A gradual re-rating can be expected as H1FY21 performance improves, it said.

Venky’s India: Poultry breeder Venky’s India became an unintended victim of coronavirus on rumours chickens and eggs might be the carrier of coronavirus. The scrip fell 13.76 per cent to Rs 1,057 last week.