The Top 9 Stocks of the week | Returns from 7% to 60% | (7th to 11th June, 2021)
Himanshu Gyan (Investing & Learning Simplified)
The market extended gains for the fourth consecutive week, scaling new highs on June 11, 2021.
1.) Cera Sanitaryware
The stock gained over 7% after the company reported a 33.6% jump in consolidated net profit to Rs 47.91 crore for the fourth quarter ended March 31.
2.) Power Grid
The share price was up over 8% after the company's board said it will meet on June 17, 2021, to consider a proposal to issue bonus shares.
3.) Balrampur Chini
The stock gained 9% last week. Sugar stocks are in focus as the government brought forward the target date for achieving 20% ethanol-blending with petrol by two years to 2023 to help reduce the country's dependence on costly oil imports.
4.) Indiabulls Housing Finance
The scrip added more than 9% last week. Blackrock Fund acquired more than 25 lakh shares in Indiabulls Housing Finance on June 11, taking its stake in the mortgage lender to more than 3%.
The scrip added 10% after the company posted a 31% jump in its consolidated net profit at Rs 3,469.88 crore for the quarter ended March 31, 2021, mainly on account of higher income.
6.) Tata Power
The stock added 16% after CCI cleared Tata Power's acquisition of stakes in three Odisha power utilities.
7.) Mazagon Dock
The share price gained over 18% after the company reported a manifold jump in consolidated net profit at Rs 230.54 crore for the quarter ended March 2021.
8.) Adani Power
The share price jumped 40% in the week gone by. Gautam Adani-led port-to-power conglomerate Adani Group is preparing to raise nearly $1 billion in 2021 through an initial public offering (IPO) by Adani Wilmar.
9.) Reliance PP
The stock jumped over 60% last week after the company's partly paid-up shares relisted on June 10 at Rs 1,570, registering a 60% gains over the delisted price on May 10.