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The week that was: RCom soars 122%; 69 stocks hit all-time highs

The final week of 2017 remained in favour of the bulls. as b..

The final week of 2017 remained in favour of the bulls. as benchmark equity indices Sensex and Nifty advanced over 0.30 per cent in last five trading sessions.

The 30-share BSE Sensex advanced 116 points to 34,056 on December 29 from 33,940 on December 22. Likewise, the NSE Nifty index jumped 57 points to 10,530 from 10,493 in the same period.

With a gain of 7.57 per cent, Sun Pharma emerged the top gainer in the Nifty50 index for the week ended December 29. It was followed by UPL (up 4.25 per cent), Vedanta (up 4.22 per cent), Wipro (up 4.19 per cent) and Bharti Infratel (up 4.07 per cent).

On the other hand, oil marketing players IOC, BPCL and HPCL dipped 5.29 per cent, 3.26 per cent and 2.49 per cent, respectively. SBI and NTPC slipped 3.11 per cent and 1.53 per cent, respectively.

Here is a look at sectors and stocks that hogged limelight during the week:

RCom on a dream run
Shares of Reliance Communications (RCom) more than doubled in last five trading session, ending the week 122 per cent higher after Mukesh Ambani stepped in to bail out the debt-ridden firm by acquiring spectrum, tower, optical fibre network and other assets. The announcement came two days after RCom disclosed a new deal with the lenders under, which nearly Rs 40,000 crore will be raised through sale of assets, averting an imminent takeover by the 35 local and foreign banks. Shares of the company jumped from Rs 16.31 on December 22 to Rs 36.22 on December 29, 2017.

Spectacular debut
Shares of Astron Paper & Board Mills made a robust debut on the bourses on Friday, surging over two-fold against its issue price of Rs 50. The stock opened the day at Rs 114, rising sharply by 128 per cent from the issue price on BSE. It later soared 139.4 per cent to touch a high of Rs 119.70, its upper circuit limit.

Electrifying performance
Shares of Jaiprakash Power Ventures hit upper circuit on Friday after reports that Canadian asset manager Brookfield and the Kotak Mahindra group have jointly bid for 2,200 mw power assets belonging to the company. The scrip closed 19.90 per cent up at Rs 9.52 on December 29.

On a high
Shares of metal & mining company Monnet Ispat and Energy surged over 15 per cent last week after reports surfaced that Aion Capital-JSW Steel consortium had submitted a resolution plan for the company. According to an ET report, the Aion Capital-JSW Steel consortium, which last week emerged as the frontrunner to acquire bankrupt Monnet Ispat and Energy, submitted a Rs 3,500-crore resolution plan that involves paying Rs 2,500 crore to lenders and an equity investment of Rs 1,000 crore, backed by a letter of comfort from ICICI Bank, said two top bankers. For the week ended December 29, shares of the company jumped 17.86 per cent to Rs 35.30 on December 29 from Rs 29.95 on December 22.

Ground real(i)ty
With a rally of over 4 per cent, the Realty index was among the top gainers among the BSE sectoral indices last week. It was followed the BSE Metal (up 2.83 per cent) and BSE IT (up 1.28 per cent) indices. On a year-to-date basis, the BSE Realty index suged over 100 per cent to 2,608 till December 29.

Kolte Patil gains
Shares of Kolte-Patil Developers advanced over 3 per cent to Rs 366.40 on December 29 from Rs 355 on December 22. The scrip hogged limelight after the company on Wednesday informed bourses that global investment firm KKR will invest Rs 193 crore in its township at Pune. In a regulatory filing, Kolte Patil said KKR has committed Rs 193 crore in its Kolte-Patil I-Ven Townships (Pune) Ltd (KPIT), which is a joint venture of Kolte-Patil and ICICI Venture Funds Management Company.

@fresh all-time high
As many as 69 companies in the BSE 500 index scaled their fresh all-time during the week goneby. The list included stocks such as Bombay Burmah, Graphite India, Century Textiles, Escorts, Finolex Cables, Kansai Nerolac, HEG, Whirlpool India, Raymond, Supreme Industries, Tata Global and Quess Corp.

Prakash Industries dazzles
Shares of Prakash Industries advanced nearly 15 per cent during the previous five trading session. The market regulator Securities and Exchange Board of India (Sebi) on Friday lifted the curbs imposed on the company, which was in the list of 331 suspected shell companies, after finding no "prima facie evidence" of misrepresentation of financials.

Original Article


ET Markets


The post The week that was: RCom soars 122%; 69 stocks hit all-time highs appeared first on News Wire Now.



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