3 Main Stocks That Were In News This Week

While in the trading week gone by (10-14th February), Nifty was largely flat with decline seen primarily in the mid-cap space which came over after over-performing for over a period of one and a half month and financials seen dragging with IndusInd Bank felling to its 52-week low on AGR woes with exposure in Vodafone stock and Moody's downgrade. Here we list down 3 of the main stocks that primarily stood out:

3 Main Stocks That Were In News This Week

1. Bharti Airtel:

Even before the SC ruling on AGR dues came out, marketmen viewed the stock to remain unaffected which gained even further as Vodafone Idea's likely collapse on the move would undoubtedly create a duopoly market in the telecom space with just 2 players i.e. Bharti Airtel and Reliance Jio that created a wide-order disruption since its entry into the space.

Post the order by the honourable court, Bharti Airtel also said it will pay up Rs. 10000 crore in AGR dues by February 20 which will further boost up the share price of the telecom player in the forthcoming days.

Further experts hail the view that when the stock like Bharti Airtel come out of the long-lived bear market, there is probably no upside and it scales as far possible. Also, with economy being largely data driven, one can never do without service from these players and hence the future of the stock looks quiet bright.

On February 13, the stock ended higher by 4.69% on the BSE at Rs. 565.10.

 

2. Yes Bank:

This is another stock that made news and saw quiet an interest this week despite the sustained volatility as the private lender despite its good brand equity is not able to crack a deal for capital infusion. But news reports of a potentially large investor are now flashing and whether the deal goes through or not is probably to come up by mid-March.

Also, for the time being, the private lender has opted to defer its quarterly numbers for December ended quarter of FY20 leaving potential investors with no clues on its financials so far. There was also in news that depositors in the bank had been withdrawing their funds, which if the case had been could leave the bank in a much precarious financial situation.

So, at the moment, it shall be a total gambling call if you lap up the stock, as even despite announcement of a big potential bidder for the bank who happens to be one of the largest equity player based out of the US, one can never be sure whether or not the deal will fructify.

Shares of Yes Bank on February closed higher by 4.57% at Rs. 38.90 on the BSE.

 

3.IndusInd Bank:

IndusInd Bank with a ratings downgrade earlier this week by Moody's on some of its instruments and thereon following the impact of SC ruling which has a high share in Vodafone cracked to its 52-week low of Rs. 1171.20 on the NSE.

Moody's in its report also pointed out the bank's large exposure to realty market which currently faces a grim situation, so a likely threat can further erupt for the stock of IndusInd Bank from this real estate space. No thus far, no NPAs have been reported from the category.