Voda Idea, IDBI Bank, Saregama and 7 other stocks rally over 50% in 1 week

IDBI Bank has rallied 89% during the week. It has become the sixth most valued listed lender, surpassing Bandhan Bank, YES Bank and IndusInd Bank in market capitalisation ranking.

Vodafone Idea, IDBI Bank, Saregama India, Shoppers Stop, and Chalet Hotels were among the 10 stocks that rallied more than 50 per cent after sharp recovery in equity markets in the current week.

Khadim India, Kamdhenu, Trident, Tribhovandas Bhimji Zaveri (TBZ), and Electrotherm (India) that others from the S&P BSE Allcap index surged between 50 per cent and 90 per cent during the week.

IDBI Bank was locked in the upper circuit for the fifth straight day and has zoomed 89 per cent in the current week as the bank turned profitable in March quarter after 13 straight quarters of loss. The lender posted a profit of Rs 135 crore for the March quarter (Q4FY20) on account of recoveries from bad loans. It had posted a net loss of Rs 4,918 crore in the corresponding period of last year.

A sharp rally in the private sector bank has seen IDBI Bank become the sixth most valued listed lender. The bank surpassed Bandhan Bank, YES Bank, and IndusInd Bank in market capitalisation ranking during the week.

Saregama India was frozen at the upper circuit for the third straight days, soaring 63 per cent in the past five trading days on the BSE. The company on Wednesday announced a global deal with Facebook to license its music for video and other social experiences across Facebook & Instagram.

“This partnership will allow users to choose from a wide variety of music to add to their social experiences such as videos, stories via music stickers, and other creative content. People will also be able to add songs to their Facebook Profile,” Saregama said in a press release.

Vodafone Idea has surged 52 per cent during the week and re-entered the elite club of top-100 most valued Indian companies in terms of market valuation. The shares of the telecom services provider hit an over nine-months high today after the foreign brokerage CLSA issued a ‘buy’ rating on the stock with a 12-month price target of Rs 12. The foreign brokerage firm sees further upside from average revenue per user (Arpu) growth, likely adjusted gross revenue (AGR) resolution, and potential floor tariffs.

There are also reports that the global technology giant Google was in talks to buy a 5 per cent stake in Vodafone Idea. The company, however, clarified on May 29 that it was constantly evaluating various opportunities but there was no proposal before the board of the firm as yet.

Chalet Hotels and Shoppers Stop have rallied 55 per cent and 54 per cent, respectively, after the government on Saturday said that restaurants, hotels, and other hospitality services would be allowed to function from June 8, along with shopping malls and complexes, as part of 'Unlock 1.0' strategy to resume economic activity.

COMPANY	LATEST	1-Wk Before	GAIN(%)
IDBI BANK	38.40	20.30	89.2
KHADIM INDIA	147.30	78.05	88.7
KAMDHENU	89.00	50.30	76.9
TRIDENT	7.48	4.56	64.0
SAREGAMA INDIA	439.85	269.00	63.5
CHALET HOTELS	156.10	100.70	55.0
SHOPPERS ST.	210.10	136.35	54.1
VODAFONE IDEA	9.94	6.56	51.5
T B Z	32.00	21.20	50.9
ELECTROTHERM(I)	127.00	84.35	50.6
IFCI	7.08	4.73	49.7
SREI INFRA. FIN.	5.89	3.98	48.0
SOUTH IND.BANK	7.28	4.93	47.7
ARVIND FASHIONS.	184.15	125.55	46.7
JINDAL WORLDWIDE	37.85	25.90	46.1
ARVIND LTD	36.80	25.20	46.0
I O B	10.50	7.26	44.6
ANDHRA PAPER	248.10	175.00	41.8
ADIT.BIRLA MONEY	34.80	24.60	41.5
BOMBAY DYEING	67.05	47.70	40.6