Sensex and Nifty have gained about 4 per cent each during the week to close at 19, 683 and 5,946 respectively.

Among the sectoral indices, S&P BSE Consumer Durables (down 1.9 per cent) was the sole loser. S&P BSE Realty gained the most (up 7.4 per cent), followed by S&P BSE Bankex (up 5.6 per cent) and S&P BSE Capital Goods (up 5.3 per cent).

Realty stocks — Housing Development & Infrastructure (up 18 per cent), Anant Raj (up 16 per cent), Sobha Developers (up 11 per cent), DLF (up 7 per cent), Oberoi Realty (up 5 per cent) — rallied on expectations of a rate cut by the RBI later this month.

IT stocks — HCL Technologies, Wipro, TCS, NIIT Technologies — gained 6 to 7 per cent following positive economic data from the US, the biggest outsourcing market for Indian IT firms.

The stock of power infrastructure company Kalpataru Power gained 19 per cent after it bagged orders worth over Rs 1,810 crore during the week. This includes Rs 549-crore order for laying transmission lines in Bhutan and Rs 155 crore pipeline replacement project for ONGC and Rs 1,010-crore worth orders secured by its subsidiary JMC Projects.

The stock of Uttam Galva Steels gained 17 per cent after the company announced plans to raise up to Rs 175 crore to fund its expansion.

The stock of S Kumars Nationwide, a textile and apparel manufacturer, was up 17 per cent on reports that the company plans to raise Rs 600 crore by selling shares of its subsidiary, Reid & Taylor. The company, however, clarified that it is exploring various funding options and nothing has been finalised so far.

The stock of Adani Enterprises gained 12 per cent for the week, on oversubscription of the offer for sale made by its promoter Adani Agro. Adani Agro mopped up almost Rs 189 crore from the stake sale.

The stock of Elder Pharmaceuticals rose 8 per cent after the company made public its intent to set up a joint venture with the Japanese firm Kose Corporation for specialised cosmetics.

The stock of Essar Oil rose 5 per cent after the company received phase III environmental clearance for its Raniganj coal bed methane block in West Bengal. The stock of metals trading company MMTC plunged 25 per cent on reports that the government is planning to offload 9.33 per cent of its stake in the company.

The stock of NHPC plunged 24 per cent on Monday on account of heavy selling by some institutional and high net-worth investors. The stock, however, pared some losses after the company clarified that there was no price-sensitive change in the fundamentals. The stock closed 16 per cent lower for the week.

The stock of AstraZeneca Pharma India dived 16 per cent following its promoter AstraZeneca Pharmaceuticals AB Sweden’s decision to reduce stake in its Indian unit to comply with the SEBI’s minimum public shareholding norms.

The stock of Multi Commodity Exchange of India (MCX) shed 11 per cent for the week. This was led by proposed 4.8 per cent stake sale by NYSE Euronext and block sale of 10.19 lakh shares (almost 2 per cent of the company’s outstanding shares) by Merrill Lynch Holdings (Mauritius). However, NYSE Euronext’s stake sale proposal was cancelled during the week due to poor investor interest. .

(This article was published on March 9, 2013)
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