The market was in a good mood on Friday as the RBI did not raise interest rates. Earlier, however, sentiment in three markets was weak.
There was a lot of volatility in the stock market last week. However, at the end of the week, the market closed with a drop in prices. The news of HDFC’s merger with HDFC Bank on Monday sent the market into a tailspin.
Then, for three days the market sentiment was weak. This was due to the Ukraine crisis and the aggressive attitude of the US Federal Reserve. The market was in a good mood on Friday as the RBI did not raise interest rates. We’re telling you about the stock that showed the most action last week.
India Dynamics
The stock jumped 26 percent. The reason for this is that the government has announced to increase the local purchase of manufactured goods. Defense Minister Rajnath Singh on Thursday released the third list of 101 equipment and platforms. These will only be bought in the domestic market. These include utility helicopters, light tanks, and small unmanned aerial vehicles for the Navy. India Dynamics will directly benefit from this.
Read more: Foreign investors started buying again in the Indian stock market, find out how much they have invested in April
Tejas Networks
The share price rose 25 percent last week. Tata Group has said it will buy a 64.40 per cent stake in wireless solutions company Sankhya Labs. The deal will be worth Rs 283.94 crore. The acquisition of the company’s shares is expected to be completed within the next 90 days. After receiving all the approvals, Tejas will try to buy the remaining 35.60 percent shares.
G Entertainment
The stock fell 4 percent last week. Segantil India bought 2.09 per cent stake in Mauritius and Morgan Stanley G Entertainment. Shopping is done through open offer on 8th April. Meanwhile, Invesco has sold 7.74 percent stake in Oppenheimer Developing Markets Fund G Entertainment. The sale was averaged Rs 281.46
RBL Bank
The stock fell 6 percent last week. Singapore-based Integrated Core Strategies Asia sold 34,30,700 shares of RBL. These shares were sold at an average price of Rs 139.07. Morgan Stanley predicts RBL’s stock weakness. He has given a target price of Rs 140 for this share.
Future retail
The stock fell 7 percent last week. According to CNBC-TV18, Fitch Ratings has given its long-term issuer a default rating of RD. RD rating indicates an uncorrected default to meet the payment obligation. Most of its coastal debt was restructured. The restructuring took place under the RBI’s August 2020 one-time restructuring framework.
