The Indian equity markets continued their rally for a ninth consecutive session on August 05. The Sensex rose 350 points, or 0.15%, to end at 58,387.93, while the Nifty settled 16 points, or 0.09%, higher at 17,397.50.
The Nifty has climbed 1.39 per cent in the last week, from 17,158 to 17,397 points. The Sensex rose 8.60 per cent in the last week. The BSE Smallcap index gained 2.03 per cent in the same period, while the BSE Midcap index gained 1.78 per cent.
Meanwhile, the Nifty500 has gained 225 points, or 1.60 per cent, in the last week to 14,900.40 points.
Three stocks in the Nifty 500 Index increased by more than 25% in last week,13 stocks returned between 35% and 35%, while 20 stocks gained between 10% and 20%.
SpiceJet
SpiceJet was the top gainer in the Nifty 500 Index. During the week, the stock has risen from 37.25 to 49.50, delivering a return of more than 29.10 per cent.
On August 5, Spice Jet soared nearly 9 per cent intraday after the airline and travel portal EaseMyTrip's Thai subsidiary announced a sales agreement to expand services in Thailand.
EaseMyTrip said in an exchange filing that its Thai subsidiary, EaseMyTrip Thai, had signed an exclusive general sales agreement with SpiceJet to sell, promote, and market tickets and other services in Thailand beginning September 1, 2022.
Under the arrangement, EaseMyTrip will be exclusively responsible for SpiceJet’s ticket operations in the territory, which will help Thai customers avail the services of SpiceJet, CNBC TV18 reported.
"This partnership will help us tap the growing traffic to ever more popular tourist destinations like Bangkok and Phuket, as well as the increased leisure and business traffic from Thailand to India and beyond," said Shilpa Bhatia, SpiceJet's Chief Commercial Officer.
Another piece of news is that SpiceJet is in talks with potential investors for a likely stake sale in the airline. It is learnt that SpiceJet is in talks with a Middle Eastern carrier for a possible stake sale. Talks are ongoing with a large Indian conglomerate, too.
However, the stock has been under pressure for the last few weeks after the airlines reported nine technical malfunctions in just 24 days.
On July 6, the DGCA issued a show-cause notice to SpiceJet following technical malfunctions in its aircraft since June 19.
The stock has fallen 76.10% since its 52-week high of Rs. 87.3. Over the last one year, the stock lost its value by 30.08%.
Kansai Nerolac
Kansai Nerolac surged 25.4 per cent for the week. The stock gained in four of the five sessions. In the first 2 trading days of August, the stock has zoomed by 7.21% and 10.43%. It rallied ₹100 in just one week after it reported a consolidated net profit of ₹152.05 crore, up 36.5% year on year, compared to a profit of ₹111.38 crore in the same period last year.
The revenue came in at ₹2,051.37 crore, jumping 46 per cent YoY over ₹1,402.76 crore in the April-June quarter last year. EBIDTA was at Rs. 211.91 crores, a growth of 42.4% over the same quarter of the previous year.
As per Trendlyne, the company's operating revenue and net profit in the June quarter were the highest in the industry.
Nazara Technologies
Nazara Technologies rallied 27.4 per cent to ₹675.10 during the last week after its net profit jumped 22 per cent to ₹16.5 crore in the June 2022 quarter as against ₹13.5 crore in the corresponding quarter of the preceding fiscal.
Net profit increased 237 per cent sequentially from ₹4.9 crore in the March 2022 quarter.
Revenue from operations increased by 70% to ₹223.1 crore in Q1 compared to ₹131.2 crore in the same quarter last year.
According to the most recent BSE shareholding pattern, Rakesh Jhunjhunwala owns 10.03 per cent of Nazara Tech as of June 2022. After solid Q1 results, brokerages now see more upside in the stock going forward.
Domestic brokerage firm Prabhudas Lilladher maintained its bullish stance on the stock, setting a target price of ₹911, implying a 34.96 per cent increase. On the other hand, global brokerage house Jefferies upgraded the stock to buy with a target price of ₹780 apiece on strong growth prospects.
| Scrip Name | % Weekly Returns |
| Spice Jet | 29.1 |
| Nazara Tech | 27.4 |
| Kansai Nerolac Paints | 25.4 |
| PB Fintech | 22.0 |
| JSW Energy | 19.7 |
| HLE Glascoat | 19.3 |
| Dhani Services | 17.9 |
| IRB Infrastructure | 17.4 |
| Zomato | 16.7 |
| Redington (India) | 16.2 |
PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, has rallied 22.0% in the last week.
Other stocks include JSW Energy, HLE Glascoat Ltd, Dhani Services, IRB Infra, Zomato, Varun Beverages, IDFC First Bank, and IDBI Bank, which have rallied between 15-20% in the last week.
Among the top losers are Brightcom Group, Balrampur Chinni Mills, and Triveni Engineering, which fell between 10 and 18% last week.
After rallying 65.2% in July, shares of Brightcom group fell 18.1% in the first week of August. Balrampur Chinni Mills stands as the second top loser at 11.3% in the Nifty500 Index after it reported an 84% drop in its consolidated net profit to ₹12 crore as against a ₹76.92 crore in the year-ago period. Total expenses rose to ₹1,077.72 crore during April-June 2022-23 from ₹1,048.83 crore in the year-ago period.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.
