Adani Group Stocks: The Week That Was: Select Adani Group Stocks, Multiplex
Sectors like metals and electricity are under pressure. Bank shares have also fallen. So there is stock in a wide market. In all of this, there are some names that have also shown resilience.
“After suffering heavy losses, DII has lost their confidence. Given the current volatility in the market, investors prefer defensive sectors like IT and pharma which are supported by a weaker INR, “said Vinod Nair, Head of Research.
Going forward, the key determinant for market direction will be the pace of inflation falling in response to the Fed regime. ”
Below are some of the names that were under the spotlight during the week:
Gujarat Gas, Shares of both city gas distribution companies were in demand last week.
The successive quarterly results jumped above 10 percent after a big improvement. Similarly, IGL has said it will announce its numbers next week. What Gujarat Gas has achieved now, investors are hoping to repeat.
Nevin Florin: Shares of the company rose more than 4 percent as its March quarter numbers and management comments appeared to have impressed investors and analysts. Although the company said its profits were flat for the year. Although the company’s revenue has increased.
Eicher Motors: The company’s shares were another beneficiary in anticipation of a good performance in the March quarter. The company finally said that its net profit increased by 16 percent year on year and revenue by 9 percent The stock has risen more than 3 percent.
Inox Leisure, PVR: Multiplex operators continue to hold Thanksgiving rallies this week for the release of some of the biggest movies of the year. Indeed, PVR has also improved on its March quarterly numbers. Both stocks rose about 3 percent.
Dishman Carbogen Amesis: Shares of the pharma company fell 25 percent during the week as the company reported a negative bottom line in the last quarter of March 2021. In comparison, the company had a net profit of Rs 35.38 crore in the December 2021 quarter.
Adani Green ,: Shares of two Adani Group companies operating in the power sector were among the biggest losers of the week.
Adani transmission has lost more than 21 per cent in the country’s power crisis due to record-breaking heat.
Zomato: Shares of food service providers have continued their decline for another week amid a global fall in tech stocks. At the end of the week, the counter was down another 6 per cent at Rs 56.75.
ONGC: Shares of oil explorers were also under selling pressure. This was even when the benchmark crude oil price was close to 110 110 per barrel. Market participants believe that this is mainly due to profit booking by investors in the volatile market.
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