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Buzzing stocks: The week that was in 10 stocks: RIL, Adani Green Energy shine, BDL plunges

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NEW DELHI: Benchmark indices registered gains of one-and-a-half per cent during a week that saw tech stocks in the US plunging sharply but spectacular performance by Reliance Industries kept the market buoyant.

Among the outperformers of this week, most names belonged to the internet, pharma and technology sectors while PSU sectors and multiplexes were among the top losers.

“The IT index again gained the most, after the markets were expecting a better Q2 performance from the IT companies. With the lack of any official statements from the high level talks to defuse border tensions, investors need to be prepared for slow progress in this regard. As such, this uncertainty will keep worrying the markets in the short term,” said Vinod Nair, Head of Research at Geojit Financial Services.

Here are 10 stocks that buzzed the most during the week:

Blue Dart: Shares of the logistics company were among the top BSE500 gainers with high volumes. The stock surged 26.64 per cent to Rs 2,912.45 as traders saw growth due to increase in use of courier services. However, they were unaware of any reasons for increase in the volume and there was no pending information or announcement.

IndiaMart InterMesh: The B2B marketplace continued its winning run riding on hopes of superior performance during the pandemic. The stock jumped 16.30 per cent to Rs 4,768.20 during the week.

Strides Pharma: Shares of the drugmaker are on a gaining streak after the company received USFDA approval for Prednisone tablets. It advanced 14.61 per cent during the week to Rs 685.90.

Adani Green: Shares of Adani Green Energy surged 11.71 per cent to Rs 608.45 as its June quarter profit was Rs 21.75 crore mainly on the back of higher revenues. The company had a net loss of Rs 97.44 crore in April-June 2019-20.

Reliance Industries: Amid the buzz of multi-billion dollar deals in Reliance Retail Ventures, a subsidiary of RIL, the stock advanced 11.62 per cent in the last week to record a high closing of Rs 2,318.85.

Coforge: Shares of the company gained 9.02 per cent to Rs 2,092.45 the week it announced it was changing its name. Now the scrip is listed on bourses as Coforge instead of NIIT Technologies.

Tata Motors DVR: Shares of Tata Motors DVR gained 6.07 per cent to Rs 59.40 after promoter Tata Sons bought 5.3 million shares, or 1.04 per cent of the equity of Tata Motors DVR, at Rs 56.02 apiece on the NSE via bulk deal.

PVR and Inox Leisure: Shares of multiplexes are under pressure as there is no clarity on when the government will allow them to reopen. PVR plunged 9.50 per cent to Rs 1,255.05 and INox Leisure slipped 0.45 per cent to Rs 288.85 during the week.

Bharat Dynamics: Shares of the PSU firm tanked 19.32 per cent to Rs 315.20 after the company finished its offer for sale issue. Though the base offer of 10 per cent share sale was fully subscribed, it failed to sell the additional 5 per cent green shoe option fully.

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