The week that was in 10 stocks: YES counter abuzz, RInfra's winning streak

NEW DELHI: Domestic stocks dropped for the third week in a row, as June quarter earnings failed to catch up with valuations. Foreign outflows intensified, crude oil prices crept up and there was uncertainty over the US Fed’s policy review next week.

Even as the benchmark indices looked oversold, there aren’t enough positive news flow to instill confidence among investors.

For the week, Sensex fell 454 points, or 1.18 per cent to 37,883. Nifty fell 135 points, or 1.18 per cent, to 11,284. Here are a few stocks that hogged limelight through the week:


Cox & Kings: At Friday’s price of Rs 13.40, shares of default-hit Cox & Kings were locked at their lower circuit limit for 23 sessions in a row now. The losing streak began on June 26 when the stock was at Rs 50 level. YES Bank has become the second-largest shareholder in the tour operator after it acquired a 18.55 per cent stake from the invocation of pledge.

YES Bank: This stock has been on a rollercoaster ride, rising 15 per cent to Rs 96.10 this week, despite three days of negative close. Dalal Street was abuzz with news of likely cash infusion by institutional investors in the bank, but the lender said it would not comment on speculations. Bank representatives met WestBridge Advisors, while they had telephonic calls with many other institutions. They also met with Rare Enterprises, the PE firm headed by Rakesh Jhunjhunwala.

Mcleod Russel: Shares of this tea major lost 20 per cent of its value in a week after the company made a slew of changes to its board including appointing Pradip Bhar as its new Chief Financial Officer (CFO). The changes come at a time when the company is going through severe financial crisis and has been selling its tea estates to repay its financial obligations. The scrip closed at Rs 9.60 on Friday.

Mahindra & Mahindra Financial Services: This scrip lost 18 per cent last week to sub-Rs 300 level (Rs 296.50 on Friday). It had last tested this level in March 2017. The stock fell as the rural and semi-urban financier saw profit decline by 75 per cent to Rs 68 crores in June quarter due to an increase in provisions for stressed loans and elevated cost of financing.

Reliance Infra: This stock rallied 18.66 per cent in five straight sessions till Friday. This is even as NSE excluded the stock from the futures and options segment. The company recently signed an Inter-Creditor Agreement (ICA) with all 16 of its lenders that gives the the Anil Ambani-led company 180 days to resolve its debt crisis. The scrip settled at Rs 50.55 on Friday.

Vodafone Idea: A Rs 4,873.9 crore loss in June quarter and a drop in revenues below that of Jio’s for the first time could only intensify selling on Vodafone Idea, which fell 15 per cent to Rs 9.25 level this week. During the week, Digital Communications Commission (DCC) approved a penalty of Rs 2,000 crore on the telecom operator for denying interconnection ports to Reliance Jio.

ZEEL: Shares of Zee gained 14 per cent during the week to Rs 403.95. In an interview, company MD & CEO Punit Goenka told to ET NOW that his company has received one binding offer on the stake sale. Goenka said the media firm is expecting another binding offer in a matter of days. “I am pretty confident that we will be talking to you in a few days’ time to reveal which way the family is going to look at for the stake sale,” he said.

Purvankara: A 17.35 per cent surge in its shares on Friday lifted Puravankara’s weekly gains to 19 per cent. The company reported a growth of 65 per cent in its net profit for June quarter. Its profit after tax (PAT) stood at Rs 44.4 crore against Rs 26.85 crore it recorded in the year-ago quarter. The stock ended the week at Rs 71.85.