In the week ending October 6, equity benchmarks BSE Sensex and NSE Nifty gained 0.45 per cent and 0.48 per cent, respectively, and snapped their two-week losing streak.

During the week, RBI maintained a status quo on repo rates. Sectoral indices such as BSE Consumer Durables (2.6 per cent), BSE Realty (1.9 per cent) and BSE IT (1.8 per cent) gained the most, while indices such as BSE Power (2.5 per cent), BSE Metals (2.4 per cent) and BSE Oil and Gas (1.7 per cent) declined.

During the week, many stocks moved up without being backed by any significant news-flows or fundamentals.

Network18, Kalyan Jewellers and Heidelberg Cement were the top gainers within the BSE 500 index last week.

Network18 Media & Investments Ltd

The stock of RIL owned media conglomerate Network 18 shot up by around 13 per cent last week, driven by the buzz around ICC World Cup.

According to a report by Way2Wealth Brokers Pvt Ltd, Network 18 will be a major beneficiary of the ICC World Cup 2023. Besides, stocks in sectors such as travel, tourism, hotels, food and beverages will benefit from the mega event, per the report. The company involved in television, print, digital and OTT, is also the largest shareholder in BookMyShow, the ticketing partner for ICC World Cup 2023.

The stock is currently trading at a trailing P/B of around 8 times.

Kalyan Jewellers

The stock of jeweller designer and manufacturer Kalyan Jewellers gained 13 per cent on the back of strong Q2 numbers.

The company has clocked a revenue growth of around 27 per cent in the September quarter on a y-o-y basis, while the same for H1 FY24 has been around 29 per cent. During Q2 FY24, the company launched 13 new showrooms in non-South markets. According to the management, the company will launch an additional 26 showrooms, taking the total count of showrooms launched in the current fiscal by Diwali to 51. 

The stock is currently trading at a trailing P/E of around 63 times.

Heidelberg Cement

The stock of German based multi-national cement company Heidelberg Cement gained nearly 8.2 per cent during last week driven by the buzz around acquisition of stake in the company by other major cement players.

Heidelberg has a cement manufacturing capacity of 13.4 million tonnes per annum in India. The stock has been in focus as media reports suggested that Ultratech Cement and Adani Group might join race to acquire the company. Earlier reports suggested that JSW Cement was showing interest to acquire the company. However, Heidelberg Cement clarified that it was not aware of the development.

The stock is trading at a trailing P/E of around 43.85 times.