The accommodative stance on repo rates was maintained for the eighth straight time which also derived comfort from the previous two inflation prints which have been below the 6 per cent upper limit and has led RBI to lower its inflation forecast for FY22 from 5.7 per cent earlier to 5.3 per cent now.
As the Indian economy is recovering, select hotel and travel stocks are rallying hard and fast. Volatility in the commodity block is also inducing sharp movement in related stocks. Last week was a perfect spectacle of the trend.
Here are 10 stocks that were abuzz during the week:
IRCTC: The non-stop rally in
continued as the scrip climbed nearly 29 per cent during the week to reach close to Rs 5,000 level. The stock is a major reopening play and could benefit as more trains are brought back.
: As travellers go on vacations and hotel bookings are rising, shares of hospitality companies are coming in the limelight. Lemon Tree Hotels rose nearly 20 per cent during the week and was the fourth largest BSE500 gainer.
MCX, IEX: Energy and power futures were in the spotlight last week as they saw massive volatility. This also brought investors to exchanges that offer such products. MCX climbed 15 per cent while India Energy Exchange added more than 12 per cent.
Tata Motors:
was one of the most sought after stocks last week after Morgan Stanley upgraded the counter and sharply increased the target price. The counter eventually ended the week up 15 per cent.
Affle India: Ahead of the stock split that happened on Friday and the September quarter earnings, Affle India shares saw rapid buying. The counter was up 12 per cent during the week.
ONGC: Shares of the oil explorer were in demand during the week as crude oil prices hit multi-year high of $80 per barrel. ONGC advanced over 10 per cent in a week.
Titan: Bullish September quarter business update gave a fillip to Titan shares. The company said its sales are close to pre-covid levels. The stock added nearly 9 per cent during the week.
Mahanagar Gas, Indraprastha Gas: The city gas distributors saw selling pressure after the government raised the natural gas price ceiling. Natural gas prices have risen rapidly in the international market, forcing the government to take action. Mahanagar Gas dipped 3 per cent and IGL over 2 per cent.
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