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5 Stocks That Rose The Most This Week

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On the back of positive global and domestic development such as the partial US-China trade truce and the development of the Brexit front has maintained upward momentum for the Indian stock markets. For the week ended October 18, 2019, Nifty registered a 3.16% rally while the Sensex gained 3.07% to end at 39,298.

5 Stocks That Rose The Most This Week
 

The rally to an extent was also fuelled by FII buying who remained net buyers for the week and bought equities worth Rs. 3213 crore.

During the week some of the top gainers are:

Yes Bank: The private lender on a year to date basis has lost tremendously. Nonetheless during the week and other than the reports of industrialists' showing interests in the lender, there is improved fundamentals that are being cited by experts as the prime reason which has made the stock to see a sharp spurt of as much as 29% during the week.

Experts have placed the target price for the stock at Rs. 75 per share in the next six month.

BHEL: Among the PSU stocks, BHEL stood as the top gainer during the week as stake sale news came in. The government in order to shore up its revenue will lower down stake in these PSUs below 51% while still having a controlling stake. During the week, the stock jumped by as much as 25% to record the highest gain in a decade

TVS Motor: Also during the period under review, the stock of two-wheeler major surged by as much as 15% as the company reported a surge in its net profit at Rs. 255 crore for the quarter ending September. This has come due to better margins. Brokerage company Arihant has revised the stock rating to 'Accumulate' for a target price of Rs. 513. The stock last closed the session at Rs. 456.60 on the BSE.

 

SBI Life Insurance: On the back of consistent performance, so far this year the stock has gained the most. And during the week it surged by as much as 10%. This was following the stake sale by of nearly 26% in SBI General Insurance by Australia-based IAG. Also, the gains have come in despite fall in Q2 profits. This is because a rise of 32% in new business premium is hopeful of future profits for the company.

Bajaj Consumer Care: As per an exchange filing, on October 16, the promoter of Bajaj Consumer, Bajaj Resources offloaded as many as 3.23 crore shares or about 22% stake at Rs 194.56 per share for Rs. 629 crore. And after the stock sale, the global brokerage firm has given an 'outperform' rating to the stock citing that the pledged holding in the stock will come down after stake sale. The stock saw a massive spurt of 20%, which made the stock to record gains of 9% during the week.

GoodReturns.in

Story first published: Saturday, October 19, 2019, 18:42 [IST]
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