Most Searched Stocks of This Week

Last Updated on Jun 20, 2023 by Vyshakh

Get the inside scoop on why stocks like Tata Motors, ITC, and more have secured their spots in this week’s top 10! Identify the events that make these stocks so hot you won’t want to miss them!

IEX

Sector:  Utilities

Smallcap

PE Ratio: 36.29

1W Return: -8.50

1W Return VS NIFTY: -8.79

Operating in the power sector, Indian Energy Exchange Ltd. offers an online platform for electricity trading. Despite recent unfavourable returns, the stock’s Relative Strength Index (RSI) is currently below 30, indicating a potential oversold state. Given its presence in the expanding energy market, this company presents an interesting option for investors looking to gain exposure to the power sector.

TATAMOTORS

Sector:  Consumer Discretionary 

Largecap

PE Ratio: 84.93

1W Return: 1.28

1W Return VS NIFTY: 1.56

Shares of Tata Motors are in focus on Friday after CARE Ratings upgraded the credit rating of the Tata Group’s auto firm. The long-term rating of Tata Motors has been revised from CARE AA-/Stable to CARE AA/Stable, said Tata Motors.

SUZLON

Sector:  Industrial

Smallcap

PE Ratio: 42.41

1W Return: 8.24

1W Return VS NIFTY: 7.95

Shares of Suzlon Energy Ltd continued to slip for the second consecutive session in Wednesday’s trade. The stock resumed a fall in the previous session after hitting its 52-week high levels. Suzlon Energy reported a consolidated net profit of Rs 320 crore for the March 2023 quarter, led by lower expenses. It recorded a consolidated net loss of Rs 193 crore in Q4 FY22. 

INFY 

Sector:  Information Technology 

Largecap

PE Ratio: 22.10

1W Return: 0.31

1W Return VS NIFTY: 0.02

Infosys is in the news since the company ended the policy of working from home for some employees. Although not surprised, who would have thought that would have an impact on the market?

WIPRO

Sector:  Information Technology 

Largecap

PE Ratio: 18.78

1W Return: -2.65

1W Return VS NIFTY: -2.94

Wipro is in the news as the company will turn ex-share buyback on Friday. Investors who held Wipro shares on Thursday would be eligible to participate in this buyback. Analysts largely see an acceptance ratio in the 40-60%  range. To recall, the last buyback by Wipro saw almost 100% acceptance. Retail acceptance in fact stood in the range of 50-100%t in the last four share buybacks.

ITC

Sector:  Consumer Staples

Largecap

PE Ratio: 29.09

1W Return: 1.17

1W Return VS NIFTY: 0.89

ITC is in the news as Nomura Holdings is bullish on the stock. The company’s March quarter revenues rose by 17% to Rs 70,937 crore YoY with the hotel business rising on the crest of pent-up demand in post covid era!

HDFCBANK

Sector: Financials

Largecap

PE Ratio: 19.22

1W Return: -1.94

1W Return VS NIFTY: -1.66

Christopher Wood of Jefferies in his latest GREED & fear note said India remains his favourite stock market on a ten-year view. He said this is the main reason why global investors, and not just Asian and emerging market specialists, should be invested in it. He mentioned HDFCBANK also in his portfolio. 

VEDL

Sector: Materials

Largecap

PE Ratio: 281.30

1W Return: 1.35

1W Return VS NIFTY: 1.06

Vedanta Ltd. is in the news as Anil Agarwal from the company said that “Debt is not a concern at all for Vedanta.” In an interview, he talks about his vision with confidence. 

TATASTEEL

Sector: Materials

Largecap

PE Ratio: 15.87

1W Return: 2.34

1W Return VS NIFTY: 2.05

The stock has been in the news due to the markets on Friday morning which had trading flat with Sensex at 62,995.93, down by 78.30 pts and Nifty at 18,720.95 with a loss of 32.85 pts. Tata Steel was among the top gainers in the morning session. 

TCS

Sector: Information Technology

Largecap

PE Ratio: 27.92

1W Return: -0.91

1W Return VS NIFTY: -0.62

India’s largest IT services company, Tata Consultancy Services (TCS), has confirmed that its 10-year deal with Transamerica Life Insurance Company, which was signed in 2017, has ended before completion due to the current macroeconomic environment. The 10-year deal was worth $ 2 billion!

How’s the Market Feeling? 

As compared to last week MMI has not changed and has been on the trajectory of Greed. 

The greed zone suggests that investors are acting greedily in the market, but the action to be taken depends on the MMI trajectory. “Greed zone” in the market refers to a situation or phase where market participants exhibit excessive optimism and a strong desire for higher returns. It typically occurs during a bull market when investors become overly optimistic about the future prospects of certain investments or the overall market. This heightened sense of greed can lead to inflated asset prices, increased speculation, and a potential disconnect from the underlying fundamentals. It is often associated with elevated risk levels as investors may overlook potential downsides or engage in irrational behavior driven by the fear of missing out on further gains.

If MMI is coming Neutral towards the Greed zone, it means greed is increasing in the market and investors should be cautious in opening new positions.

Check out the current market status here.