23 BSE500 stocks rally 10-23% this week as bulls regain control

NEW DELHI: It was a strong week for Dalal Street that saw four of every five stocks from the broader index BSE500 ending higher amid easing oil prices and hopes the US Fed may slow down on rate hikes if the economy suffers big.

As many as 23 index stocks surged 10-23 per cent during the period, some of whom reported strong quarterly business updates ahead of the June quarter earnings season.

For the week, the BSE500 index closed at 22,028.14, up 688 points or 3.22 per cent over its previous week’s close of 21,340.25. This is against the BSE Sensex and the NSE Nifty that gained 2.97 per cent each.

Among the BSE500 names,

was the lead gainer, surging 27.25 per cent to Rs 42.25 from Rs 33.20 a piece a week ago. When sought clarification by the stock exchanges, the company said it had no additional information or announcement to share that needs to be disclosed to exchanges or shareholders, which could have bearing on the price and volume behavior.
surged 21 per cent for the week. The stock gained in four of the five sessions. During the week, the realtor said it achieved the highest ever quarterly sales volume of 1.36 million sft in April-June quarter (Q1FY23), up by 51.7 per cent year-on-year (YoY).
jumped 16.39 per cent to Rs 3,942.05 after the retailer’s standalone revenues jumped nearly twofold to Rs 9,806.89 crore in June quarter from Rs 5,031.75 crore in the year-ago quarter.

Tyre maker climbed 19.51 per cent to Rs 1120.25 amid fall in oil prices.
climbed 13.94 per cent to Rs 210.85. Seasoned investor Rakesh Jhunjhunwala maintained his stake at 1.96 per cent in Canara Bank at the end of June quarter, latest shareholding data showed.
rose 13.87 per cent for the week to Rs 2,013.40.
gained 13 per cent for the week. The stock gained as Credit Suisse initiated coverage on the stock with an outperform rating and a target of Rs 600. The brokerage sees network expansion and product mix to drive growth for Star Health. It expects return on equity for Star to bounce back on the back of lower claims.


advanced 11.57 per cent for the week to Rs 1274.25. Credit Suisse initiated coverage on this stock as well. It felt that execution at ICICI Lombard to drive re-rating as it suggested a target of Rs 1,400. A host of domestic brokerages also gave healthy targets for the scrip this week.


gained 13.33 per cent to Rs 1,239.55. In an interview with ET Now Swadesh, the company said it is expecting an order book of Rs 25,000 crore by FY23 due to pick-up in government expenditure in the infrastructure segment and rising road construction activities. The company expects new work orders are expected to increase from Rs 9,000 crore to Rs 15,000 crore for FY23.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)

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