1 / 8The Nifty 50 index ended lower for the fourth straight week on Friday, a streak not seen since April-May 2022. 40 out of the 50 index constituents ended with losses for the week. Many stocks made headlines during the week from the Adani Group to Reliance Industries and even footwear manufacturer Bata. Here's a look at seven such stocks.
2 / 8Reliance Industries tops the list of newsmakers for the week. Late Friday afternoon, the company announced that Jio Financial Services, the demerged financial services arm, will be listing on Monday, August 21. The street is expecting a strong listing for the stock. Here's all you need to know about the same.
3 / 8Adani Group stocks continue to make headlines. The stocks saw a sharp surge on Friday amidst reports that the Abu Dhabi National Energy Company PJSC (TAQA) is evaluating an investment of up to $2.5 billion in the group's power business. TAQA is the second-largest stock on the Abu Dhabi Securities Exchange. However, both parties denied such a development. Group stocks ended higher though, taking the cumulative market capitalisation to a six-month high, briefly crossing the Rs 11 lakh crore mark. Individually, Adani Enterprises crossed Rs 3 lakh crore in market cap for the first time in three months, while Adani Power surged after GQG Partners acquired 31 crore shares of the company in a large transaction earlier in the week.
4 / 8ITC Is among the other top losers on the Nifty 50 index this week. The stock has declined 12 percent since it made its all-time high of Rs 490 last month. Along with its earnings, the company also announced the demerger ratio for its hotels business. Shareholders of ITC will get 1 hotels share for every 10 held. Shares of ITC ended lower for the fourth week in a row, a streak not seen since April 2021.
5 / 8PVR-INOX is the other newsmaker for the week as the multiplex chain continues to see robust footfalls courtesy of the massive content pipeline. Strong collections from films like Gadar 2, OMG 2 and Rajnikanth-starrer Jailer led to the highest ever daily and weekend admissions and box office. On August 13, PVR-INOX achieved its highest-ever admissions and gross box-office collections in a single day. Shares of PVR-INOX ended higher for the fifth week in row. The last time the stock gained five weeks in a row was back in June-July 2022.
6 / 8Footwear manufacturer Bata India also made headlines this week after CNBC-TV18 reported citing sources that the company is in talks with Adidas India for a collaboration in the Indian market. In response to the news, Bata said that it continues to explore various strategic initiatives to expand its footprint in the market. Shares of Bata have gained in five out of the last six weeks. Here's Mangalam Maloo writing about what a potential deal teaches us about retail, marketing and collaboration.
7 / 8Hindustan Copper shares declined over 11 percent this week after its June quarter results. Here's Nigel D'Souza explaining the key factors as to why the stock was under pressure this week. This is the first weekly drop that the stock has seen four weeks. The 11 percent weekly drop is also the worst for the stock since January this year.
8 / 8Our final newsmaker for the week is Escorts Kubota, the stock which ended at an all-time high this week. Shares of the tractor manufacturer gained on all four days of the truncated week. The 10 percent surge seen by the stock this week is also the best seen since November 2022.
