- New India Assurance surged 37.7% on NSE IPO filing.
- HFCL gained 28.1% on a large BharatNet contract.
- Carborundum Universal advanced 24.4%, reaching new 52-week high.
On Friday, Indian equity benchmarks ended the week in positive territory. The benchmark Nifty 50 index gained 1.65 per cent during the week to close at 24,013.10, while the BSE Sensex advanced 1.69 per cent to settle at 76,802.90.
Amid the broader market strength, several stocks delivered significant gains driven by company-specific developments.
The New India Assurance Surges On NSE IPO Filing
The New India Assurance Company Ltd (NIACL) emerged as one of the top performers of the week, rising 37.7 per cent. The rally came after the National Stock Exchange (NSE) filed draft papers with SEBI for its proposed Rs 30,000 crore initial public offering (IPO). According to the draft red herring prospectus (DRHP), New India Assurance, one of the selling shareholders in the issue, will sell up to 1.05 crore equity shares through the offer for sale.
The insurer had acquired its stake at a weighted average cost of Rs 0.32 per share, making it one of the key beneficiaries of the proposed share sale. The stock climbed nearly 14 per cent in a single session, touching a high of around Rs 188 per share, as investors assessed the potential value unlocking from the NSE IPO.
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HFCL Hits Back-to-Back Upper Circuits After BharatNet Order
HFCL Ltd gained 28.1 per cent during the week, making it another top gainer. The stock hit back-to-back upper circuits and touched a fresh 52-week high after the company secured a Rs 2,666.09 crore contract from Rail Vikas Nigam Limited (RVNL) under the BharatNet Phase-III project for the Uttar Pradesh (West) Telecom Circle. The project includes the supply of telecom equipment, creation of an optical fibre cable network, installation, commissioning and maintenance for a period of ten years.
The order strengthens HFCL’s position in government-led digital infrastructure projects and adds significant visibility to its future revenue pipeline. For the week, HFCL closed at Rs 209.61, up nearly 22 per cent, while trading activity remained strong. Weekly volume stood at 17.57 crore shares, compared with the 30-week average volume of 12.51 crore shares.
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Carborundum Universal Reaches New 52-Week High
Carborundum Universal Ltd advanced 24.4 per cent during the week, supported by strong momentum and a fresh 52-week high. The stock closed the week at Rs 1,241.70, gaining nearly 18 per cent over the five trading sessions. Investor interest remained elevated as the company continued its upward trend and recorded a new one-year high. Trading activity also picked up sharply, with weekly volume reaching 1.36 crore shares, compared with the 30-week average volume of 50.1 lakh shares.
Carborundum Universal operates across abrasives, ceramics and electro-minerals and remains one of the established industrial manufacturing companies in India. The breakout to a new high attracted additional market participation during the week.
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