The week that was: Latent View logs 250% return in a week, Paytm makes a recovery

Asia's Tech News Daily

Latent View share price, Paytm share price, Latent View, Paytm, Vodafone Idea, India vix

NEW DELHI: It was a scary week for Dalal Street, where concerns over inflation, Fed policy and a new virus variant shaved 4 per cent off benchmark indices, with select rate-sensitive indices such as auto and real estate plunging as much as 8 per cent. The volatility was high with India VIX surging to 20.80 level from 14.85 level a week ago amid the expiry of the monthly F&O series. That said, select stocks delivered as high as 250 per cent return for the week. The list of stocks taking a beating too was long. Here are a few stocks that buzzed the most during the week.

Latent View: The debutant, which got listed this Tuesday, delivered investors a stellar 250 per cent return in the first week of its listing. The scrip closed at Rs 688.90 on Friday, up 249.69 per cent over its issue price of Rs 197.

IndusInd Bank: The scrip was a bit under pressure, even as IndusInd denied that reports of two top executives hired by Spandana from it were false. IndusInd recently faced whistleblower allegations of evergreening of loans at Bharat Financial. The scrip ended the week down 10.57 per cent at Rs 901.45.

Vodafone Idea: This stock climbed 8.81 per cent for the week to Rs 10.86 as analysts believe the telecom operator is likely to see almost 70 per cent and 14 per cent jumps in operating income and revenue respectively in FY22 following its decision to hike all prepaid tariffs by up to 25 per cent, provided the loss-making telco doesn’t suffer any major resulting market share losses.

Paytm: After falling 27 per cent on its market debut last week, the scrip recovered some ground this week, rising some 13 per cent to Rs 1,765.60, thanks to its monthly business update. The company said its October GMV rose 131 per cent to $11.2 billion.

Zee Entertainment Enterprises: The media stock was in news during the week after MD & CEO Punit Goenka said the merger of Zee and Sony Pictures Networks India (SPN) was on track and “in the final stages of stitching up.” The scrip ended up the week climbing 9.06 per cent to Rs 342.45.

Vedanta: This stock surged 14.26 per cent for the week to Rs 353.75 after promoters Vedanta Netherlands and Twin Star Holdings bought 13.79 crore shares or 3.7 per cent stake in the company at Rs. 349.7 apiece through bulk deals.

Raymond: This stock soared 18.54 per cent to Rs 595.25 level this week after the company said it was working toward reorganising its businesses into five core revenue streams, deploying professional boards to raise growth capital in the future. These five focused business areas are textile, fast-moving consumer goods, real estate, education and engineering.

PVR, IndiGo and LemonTree: The four worst-performing stocks, from a sample of BSE500 and BSE Smallcap index companies, were the ones whose fortunes could take a severe beating in case the new Covid variant spreads fast. PVR ended the week down 17.96 per cent at Rs 1390.55. Interglobe Aviation plunged 16 per cent. Two hotel stocks Lemon Tree Hotels and The Indian Hotels Company fell 15 per cent and 13 per cent, respectively.

Tata Teleservices (Maharashtra): The scrip, which is having a stellar year, continued with its strong show, rallying 27.41 per cent to Rs 101.55 apiece in an otherwise weak week for the market. With this, the scrip has rallied closed to 1200 per cent year-to-date and 84 per cent in the last one month.

Laurus Labs: This stock was in the news after the company signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company, to acquire 26.62 per cent stake on a fully diluted basis for about Rs 46 crore. The stock rose 8.61 per cent to Rs 523.35 for the week.

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