Zomato, Paytm and PB Fintech among 35 BSE500 constituents up over 10% this week

NEW DELHI: Key benchmarks Sensex and Nifty50 rallied in four out of five sessions last week, returning a solid 1.4 percent each. At least 35 stocks from the broader BSE500 index, which is up for the past seven sessions, posted double-digit returns for the week, with each of five index constituents gaining over 5 percent for the period. A few new age stocks saw strong price action.

Airline operator SpiceJet was the best performing index stock as it rose 29.11 per cent for the week to Rs 49.45 a piece and reach a market capitalization close to Rs 3,000 crore. The share rise amid news that the airline is in talks with an airline from the Middle East about a sale of 24 per cent.

rose 24.70 percent for the week to Rs 499.65. The paint maker earlier this week reported a 36.51 per cent rise in consolidated net profit at Rs 152.05 crore on a 46 per cent rise in operating income at Rs 2,051.37 crore.

The rally in the market helped new age stocks recover, sending PB Fintech 21.82 percent higher for the week. Zomato’s shares were in the news, jumping 16.32 percent to Rs 54.50. Uber Technologies sold its entire 7.78 percent stake in Zomato in a bulk deal on the BSE, where two institutional investors – Fidelity and

Life insurance – purchased shares in the new-age share. American hedge fund Tiger Global also sold 184.4 million shares in Zomato between July 25 and August 2, when the one-year lock-up period ends.

One97 Communications, which received buy recommendations from a few brokerages recently, climbed 16.13 percent to Rs 783.65. However, the fintech firm said its consolidated loss widened nearly 69 percent year-on-year to Rs 645.5 crore in the June quarter from a loss of Rs 381.9 crore in the year-ago period.

JSW Energy climbed 19.95 percent for the week. Lenders to distressed borrower Ind-Barath Energy (Utkal) and JSW Energy, the asset’s successful bidder, are likely to renegotiate the resolution plan after the court observed in its order that the parties can “sit across the table” and take stock of the situation.

IRB Infra climbed 17.2 percent YoY to Rs 250.70. The expressway developer reported a multiple-fold increase in consolidated net profit at Rs 363.19 crore in the June quarter from Rs 71.91 crore.

Redington (India),

IDBI Bank and Metro Brands rose 15-17 percent in the last week.

Solar Industries,

, , , , JA Bank, , BEML and a dozen other stocks posted double-digit returns for the week.

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