Eternal Tops Weekly Gainers’ List; Bajaj Finserv, Adani Enterprises, Bajaj Finance Rally on Strong Triggers

Mumbai, July 6: Several large-cap stocks delivered robust gains during the week gone by on the back of favourable company-specific developments. Eternal emerged as the top performer among the Nifty 50 pack, buoyed by bullish brokerage calls on Blinkit’s long-term growth prospects, while Bajaj Finserv and Bajaj Finance advanced after the NBFC’s strong June-quarter business update fuelled optimism over a healthy earnings season.

Adani Enterprises also featured among the week’s biggest gainers as investor confidence strengthened following the successful completion of its Rs 15,000 crore qualified institutional placement (QIP). Here’s a look at the top gainers from the week gone by, the key drivers behind the rally, and what investors should watch in the week ahead.

Eternal: Eternal share price rose the most during the week gone by, rising 10.39% to Rs 281.65, clocking a market cap of Rs 2,71,802 crore.

Eternal was the week’s biggest gainer, climbing around 11% as brokerages maintained bullish stance on the stock, arguing that Blinkit is well placed to retain its leadership in India’s fast-growing quick-commerce market despite the aggressive entry of Amazon and Flipkart. The brokerages maintained ‘Buy’ rating and implied upside of 29-43%. They believe Blinkit’s extensive dark-store network, strong execution, growing customer base and improving unit economics will help it defend market share while capitalising on the rapid expansion of the quick-commerce segment.

Look ahead: Investors will closely monitor developments in the quick-commerce space, particularly the intensity of competition and discounting as Amazon and Flipkart ramp up their offerings. Market participants will also await Eternal’s June-quarter earnings for commentary on Blinkit’s order growth, profitability, store additions and management’s outlook on sustaining growth amid rising competitive pressures. Positive updates on margins and expansion could provide fresh triggers for the stock after this week’s rally.

Bajaj Finserv: Bajaj Finserv share price rose 7.42% during the week gone by to Rs 1,896, clocking a market cap of Rs 3,03,400 crore.

Bajaj Finserv is a holding company. It owns major stakes in Bajaj Finance (NBFC focused on consumer, commercial and SME lending), Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, and other financial ventures.

Bajaj Finserv was among the week’s top performers, as investors cheered a strong June-quarter business update from its key subsidiary, Bajaj Finance, reinforcing expectations of a solid earnings season. Bajaj Finance reported a 24% year-on-year increase in assets under management (AUM) to Rs 5.47 lakh crore, while new loan bookings rose 20% during the quarter. The lender also added 5.1 million new customers, taking its overall customer franchise to 124.43 million, while its deposit book stood at Rs 68,500 crore.

Look ahead: Investors will now shift their focus to Bajaj Finance’s June-quarter earnings, where trends in net interest margins, asset quality, credit costs and profitability will be closely watched. Management’s commentary on loan demand, funding costs and the interest rate outlook will be key gauges for the group’s growth trajectory.

Adani Enterprises: Adani Enterprises share price rose 5.73% during the week gone by to Rs 3,212, clocking a market cap of Rs 4,15,223 crore.

Adani Enterprises was among the top gainers during the week, rising as investor sentiment improved following the successful completion of its Rs 15,000 crore qualified institutional placement (QIP). The flagship Adani Group company increased the issue size from an initial Rs 10,000 crore after attracting bids worth nearly Rs 38,000 crore, or 3.8 times the base offer, highlighting strong institutional appetite. The proceeds will be deployed towards funding capital expenditure across its airports, roads, data centres, green hydrogen and other infrastructure businesses, reinforcing confidence in the company’s long-term growth plans.

Look ahead: Investors will watch for details on the deployment of the fresh capital, progress on the company’s infrastructure expansion projects and any further announcements related to its investment pipeline. Market participants will also keep an eye on the June-quarter earnings season for updates on execution across key businesses and management’s outlook on growth, while the strong institutional backing from the QIP is expected to remain a key sentiment driver in the near term.

Bajaj Finance: Bajaj Finance share price rose 5.20% during the week gone by to Rs 1,031 clocking a market cap of Rs 6,41,787 crore.

Bajaj Finance was among the top gainers of the week after its strong June-quarter business update reinforced confidence in the lender’s growth trajectory. The NBFC reported a 24% year-on-year rise in assets under management (AUM) to Rs 5.47 lakh crore, driven by healthy credit demand across segments. New loan bookings increased 20% to 16.13 million, while the customer franchise expanded by 5.1 million to 124.43 million. Its deposit book stood at Rs 68,500 crore. The robust operational performance strengthened expectations of a healthy earnings quarter and supported buying interest in the stock.

Look ahead: Investors will now focus on Bajaj Finance’s June-quarter earnings for updates on net interest margins, asset quality, credit costs and profitability. Management’s commentary on loan growth, funding costs and the demand outlook will be closely tracked to assess whether the strong business momentum seen in the first quarter can be sustained through the rest of FY27.

Source: NSE