Zomato and Swiggy: Rivals, IPOs, and the Road to Profitability
Weekly movers: Hits and misses in the large-cap space during the week!
Last Updated: 26th May 2023 - 01:29 pm
Here’s a list of the top 5 gainers and losers this week in the large-cap space.
India's economy performed better than anticipated in the March quarter of FY23, which may have increased the full fiscal year growth over the 7% for the first advance estimate in January. According to a top banker, India's central bank may purchase up to 1.5 trillion rupees (USD 18 billion) in government bonds to refill the banking system's liquidity, which is predicted to become tighter later in the year.
The Reserve Bank of India may reduce the cash reserve ratio by half a point in the fiscal second half and begin purchasing bonds in the December quarter to maintain banking liquidity at current levels said the research group of ICICI Bank Ltd.
According to RBI, India is expected to be among the fastest-growing major economies of the world, accounting for 15% of global growth – the second largest contribution, and higher than that of the US and EU put together.
According to the central bank, India's overall demand circumstances have so far remained stable. The resurgence in contact-intensive services has given the urban consumption demand a considerable uptick. Rural demand indices are slowly strengthening as a result of optimism surrounding a bountiful rabi harvest. Unseasonal rain and hailstorm-related crop damage look to be limited.
When looking at the Indian stock market, the S&P BSE Sensex, the frontline index, increased by 0.23% in the last five trading sessions, surging from 61,729.68 on May 19 to 61,872.62 on May 25. In contrast, the Nifty50 went from 18,203.40 on May 19 to 18,321.15 on May 25.
Let's take a closer look at the top gainers and losers in the large-cap space during the last five trading sessions, which took place between May 19 and May 25.
Top 5 Gainers Return (%)
Company Name |
Returns (%) |
29.6 |
|
15.85 |
|
13.68 |
|
13.41 |
|
11.82 |
Top 5 Losers Return (%)
Company Name |
Returns (%) |
-5.98 |
|
-5.89 |
|
-2.95 |
|
-2.71 |
|
-2.51 |
Adani Enterprises Ltd: Adani Enterprises Ltd gained 29.6% in the last 5 trading sessions. The shares of this company witnessed major highs and lows in the last four months after the Hindenburg setback. The US-based short seller Hindenburg Research published a report in January of this year alleging stock manipulation and accounting fraud by the conglomerate run by Gautam Adani. But Adani denied every accusation.
Balakrishna Industries Ltd: Balakrishna Industries Ltd gained 13.68% in the last 5 trading sessions. The share price of this company is rising mainly due to investors' good earnings expectations. The company has a positive outlook for the future, expecting demand for its products to continue to grow and expanding its production capacity.
Indian Bank: Indian Bank plunged 2.95% in the last 5 trading sessions. For Q4FY23, the company has reported a Consolidated Total Income of Rs 14415.98 crore, up 4.75 % from last quarter. Total Income reported was Rs 13761.95 crore, up 24.75% from last year’s same quarter Total Income of Rs 11,556.02 crore. The bank has reported a net profit after tax of Rs 1519.68 crore in the latest quarter. The fall in stock price is due to global bank conditions which have an impact on some of the Indian banks.
Trending on 5paisa
05
5paisa Research Team
Discover more of what matters to you.
Indian Market Related Articles
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.