The week that was in 10 stocks: Asian Paints, Berger Paints log new highs; Antony Waste makes solid debut

The week that was in 10 stocks: Asian Paints, Berger Paints log new highs; Antony Waste makes solid debut

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The mood in the market continued to be jubilant in the last week of 2020, as the benchmark equity indices logged new highs and also witnessed their longest winning streak in a decade.
Benchmark Sensex surged 895.44 points or 1.91 per cent to 47,868.98 points during the week, while peer Nifty advanced 269.25 points or 1.96 per cent to 14,018.50.

The exuberance was broad-based with 409 of BSE 500 stocks logging gains.

Here are the key stocks that saw significant movement last week:

Suzlon Energy: Shares of wind-turbine maker Suzlon Energy jumped 27.22 per cent in the week, and were the top gainers in the BSE500 pack. The stock even hit a 52-week high of Rs 6.55 on December 31.

Asian Paints, Berger Paints: Leading paints maker Asian Paints and Berger Paints rose 4.74 per cent and 5.03 per cent in the week respectively and recorded new all-time highs, continuing their winning run on hopes of faster volume recovery. As seen in the past few quarters, revival in volumes would continue to be led by low-cost products amid demand in smaller cities and towns.

Rain Industries: Specialty chemicals maker Rain Industries surged 15.73 per cent in the week and logged a 52-week high as the company announced that its arm had completed sale of non-strategic subsidiaries for Rs 637 crore. The company said the consideration received from the sale of two subsidiaries will be used to repay debt and other general corporate needs.

Antony Waste Handling Cell: Shares of Antony Waste Handling Cell made a solid market debut on Friday, as the scrip closed at Rs 407.25, a 29.3 per cent gain on the issue price of Rs 315. The stock debuted at Rs 430 on the BSE, up 36.51 per cent from the issue price. While the stock delivered decent listing gains, it was still the least impressive debut in recent times.

Dish TV India: The stock was the biggest loser in the BSE-500 pack, as it shed 9.72 per cent in the week after the direct-to-home operator received a demand notice from the government for payment of Rs 4,164.05 crore, which includes licence fee and interest.

Deepak Nitrite, Hindustan Organic Chemicals: Deepak Nitrite and Hindustan Organic Chemicals Ltd. rallied 8.95 per cent and 18.75 per cent, respectively, after the chemical makers filed an application for sunset review of the anti-dumping duty imposed on imports of phenol for 12 months to June 2020, originating in or exported from European Union and Singapore.

IndiaMART InterMESH: The stock continued its winning run and rose another 13.02 per cent in the week and logged a new high. IndiaMART is India’s largest online B2B marketplace with a market share of around 60 per cent in online B2B classifieds. Its stock has risen 38 per cent over the last one month, and is up 242 times over the past one year.

Bharat Heavy Electricals Ltd (BHEL): State-run l BHEL has bagged orders valued at Rs 3,200 crore, for electro-mechanical works for a hydro electric project in Andhra Pradesh and E&M works of pump-motor sets for lift irrigation schemes in Telangana.

Credit: Stocks-Markets-Economic Times

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