The Indian equity markets ended in the green on July 15, snapping a four-day losing streak. The Sensex ended with a gain of 345 points, or 0.65%, at 53,760.78, while the Nifty closed at 16,049.20, up 111 points, or 0.69%.
15 Nifty500 stocks surged 10-23% last week; ITI topped the list
Nifty Auto and Nifty FMCG closed higher than Thursday’s levels. Nifty IT, which had lost approximately 5% in the previous four days, finished modestly down.
The Sensex (down 1.32%) and Nifty (down 1.06%) fell more than a per cent each for the week, while the BSE Midcap (up 0.88%) and Smallcap (up 0.54%) indices finished in the green.
On Friday, Brent crude oil hovered below $100 per barrel after recovering from its sharp fall on Thursday. The rupee ended flat at 79.88 per dollar.
In the Nifty500 index, 263 stocks delivered positive returns this week. Only 15 stocks were able to gain more than 10%. Six stocks delivered returns of between 15 and 23%.
The telecom PSU, ITI Ltd, was the top gainer among Nifty 500 stocks this week. The share price opened on a positive note and touched a high of ₹123.90 in Friday's trade on the NSE. It then closed nearly 11.25% higher at Rs. 120.60.
During Friday's intraday, ITI Ltd recorded a volume of 44.0 million, a 2.40 times surge over its average weekly volume of 17.6M. The stock's volume has been steadily increasing during the week.
On Friday, ITI replied to the clarification sought by Indian exchanges on the jump in trade volume.
The stock gained 23.06% this week to ₹123.90 from ₹90.00. In the last month, the stock has returned 35.81 per cent to shareholders. At current levels, the stock is trading 48.89% above its 52-week low of Rs. 81.
On the technical charts, the stock is trading 13% higher than its 200-DMA. The Relative Strength Index (RSI) of the stock stands at 70.0.
Another stock that witnessed good movement in the last week was Anupam Rasayan India. The stock was the second largest gainer in this week, rising 17.9 per cent.
In the last one month, the stock has climbed from ₹600.05 to ₹733.35, generating a return of over 22.08%. However, at current levels, the stock is trading 33.80% below its 52-week high of ₹1,107.6
On March 27, 2022, global research firm Jefferies initiated coverage on the stock with a 'buy' call and a target price of ₹1,040/share.
Jefferies in a report said, "No single chemistry contributes more than 12% of ARIL's revenues." It has developed expertise in continuous flow chemistry (lower cost and greener compared to batch process) and has migrated c30% of its manufacturing to this platform.
Promoters held a 65.2 per cent stake in the company as of 31-Mar-2022, while FIIs owned 5.7 per cent and mutual funds 3.09 per cent.
|Scrip Name||Weekly Returns(%)|
|Anupam Rasayan India||17.9%|
|KEC International Ltd.||15.2%|
|Aster DM Healthcare||15.0%|
|Adani Transmission Ltd.||13.5%|
|Hinduja Global Solutions||11.3%|
|Adani Total gas||10.5%|
Shares of optical fibre cable manufacturer HFCL have rallied by more than 15.09% this week. The stock closed at ₹67.10/share with gains of over 5.34% on the NSE in Friday's trade.
In the last three years, the stock has increased by 218.76 per cent. Furthermore, over the last five years, the market price of the stock has zoomed by 369.23 per cent.
However, it is currently trading 33.79% below its 52-week high of Rs. 101.35, set on Jan. 17, 2022.
On July 12, the company received a ₹59.22 crore order from a telecom company in India.
HFCL specialises in the manufacturing of telecommunication equipment, optical fibre cables and intelligent power systems. It has implemented several greenfield projects, including the setting up of the CDMA and GSM networks, satellite communications; wireless spectrum management; and DWDM optical transmission networks.
Shares of Star Health and Allied Insurance Company Ltd. gained 3.90 per cent to end at ₹619.65 in Friday's trading session. This week, the stock rallied by almost 15.9%.
Domestic brokerage firm ICICI Securities has given a 'buy' call on the stock with a target price of Rs. 825/share.
On the other hand, Motilal Oswal is bullish on star health and recommended a 'buy' rating on the stock with a target price of ₹840/share.
"We remain optimistic about the overall prospects of Star Health, backed by strong growth in retail health, given its under-penetration; healthy earnings growth, led by normalisation in the claim ratio; limited cyclicality risk (commercial lines and motor insurance have high cyclicality")," said Motilal Oswal.
Star Health is a market leader in the retail health insurance segment with a 33% market share. As of March 2022, Star Health has 807 branches and 12,000+ network hospitals, with a presence in 25 states and five union territories.
Rakesh Jhunjhunwala is the promoter of Star Health and Allied Insurance Company and owns 10.08 crore shares, or 17.5% stake, in the company along with his wife, Rekha Jhunjhunwala.
The share price of Aster DM Healthcare Ltd. gained 7.34 per cent to end at ₹213.45 in Friday's trading session. The scrip hit a high of ₹216 and a low of ₹199.30 during the session. During intraday, the company recorded a volume of 3.4 million, a 3.48x surge over its average weekly volume.
The stock rallied 15.10% this week. In the last 10 trading sessions, the stock gained over 10%. On the technical charts, the stock is trading 13.09% higher than its 200-DMA.
The stock touched a 52-week-high of ₹237 on September 14th, 2021 and a 52-week-low of ₹148.4 on August 10th, 2021, indicating that at the current level, the stock is trading at 43.83% above its 52-week low.
In the March 2022 quarter, the company's consolidated net profit more than doubled to ₹246 crore, up from ₹117 crore in the January-March period of the 2020-21 fiscal year.
It reported a total income of ₹2749.77 crore during the period ended March 31, 2022, as compared to ₹2240.69 crore during the period ended March 31, 2021.
Promoters held a 37.9 per cent stake in the company as of 31-Mar-2022, while FIIs owned 11.4 per cent and mutual funds 9.62 per cent, while the general public held a 40.57 per cent stake.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.