IT stocks |  Angel One shares: The week that was in 10 shares: Angel One falls by 26%, information technology and technology shares among the worst fall

IT stocks | Angel One shares: The week that was in 10 shares: Angel One falls by 26%, information technology and technology shares among the worst fall – Mail Bonus

New Delhi: Domestic stock markets ended the week of May 6 with sharp cuts. The selling pressure in the Indian markets slowed the indices, which wiped 4 lakh crore of investors’ pussy.

The benchmark indices – BSE indices Sensex and Nifty 50 – fell by up to 4 percent during the week, while indices based on secondary equities, BSE and small equities fell by up to 7 percent during the period.

Ajit Mishra, Director of Research. Religare Broking, said that the tone was negative from the beginning and an unexpected rise in interest rates from RBI pushed the bulls to the back foot

“Attitudes declined further at the last meeting due to growing fears of aggressive US Federal Reserve rate hikes. In the meantime, the mixed earnings announcements failed to provide any comfort,” he added.

All major industry indices turned red, but the consumer price index fell by 9 per cent this week. Markets are expected to remain weak in the near future, experts said.

“Following RBI’s unexpected rise in interest rates, Indian inflation is largely forecast at 7.4-7.5 percent, well above the acceptable level of the central bank,” said Yesha Shah, head of equities research at Samco Securities.

However, higher-than-expected inflation could worsen current sentiment. Investors are therefore advised to keep a long-term horizon and be very specific in their choices, she suggested.

In the BSE 500 index, more than 450 stocks ended the week with losses, while the rest recorded a slight increase. Up to 50 stocks fell in double digits during the week, while only a few stocks were able to rise properly.

Below are the key stocks that were in the spotlight last week:

One angel: Leading fintech collapsed by up to 26 percent to Rs 1448.9 this week after its promoter Rahul Thakkar sold 41,200 shares in the company through an open market sale on April 29, 2022, the day the stock reached a record high of Rs 2,022. .

Solara Active Pharma Sciences: The pharmaceutical company fell by 24 percent this week to 486.25 rupees after the company announced that Rajender Rao Juvvadi had resigned as CEO and CEO of the company as of April 28, 2022.

IT shares: The technology counters for small businesses suffered a lot of damage last week, thanks to heavy sales. 63 Moons Technologies and Brightcom Group decreased by 18 percent each to Rs 180.05 and Rs 68.75, respectively. Sonata software decreased by 14 percent to Rs 645.35.

TV18 broadcast: The director of media and entertainment reported a 13.4 percent decline in profit after tax (PAT) to 143.61 rupees, despite an increase in revenue. The counter fell by 17 percent to 45 rupees this week.

Internet shares: Internet-connected platforms suffered a major setback this week, amid a crash in technology counters and high valuations. Info Edge (India) and Zomato fell 16 percent each to Rs 3897.85 and Rs 60.5, respectively.

Gokaldas export: The clothing and apparel player rose more than 18 percent to 472.7 rupees this week after the company announced the best quarterly performance, driven by a growing order book and the ability to withstand supply chain disruptions.

Home First Finance Company: The housing financier reported a profit of Rs 60.2 million in the March quarter of FY22, which is a 92.4% increase from the same period last year, due to higher net interest income. The stock grew by 11 percent to 781.55 Rs this week.

Tata Chemical: The Tata Group’s chemical arm rose 10 percent to 1,032.9 rupees this week as its March 2022 quarter exceeded Street’s expectations and positive management reviews

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