Movers & Shakers: 10 stocks that moved the most last week - Moneycontrol
During the week, some consolidation is likely in the run-up to the MPC meeting, the outcome of which will be shared on December 7, but given the strong momentum and favourable cues, the market is expected to move north, experts say
In a week of record highs, the BSE Sensex rallied 575 points to 62,868 and the Nifty50 rose 183 points to 18,696. The broader market gained significant momentum and outperformed the benchmarks, with the Nifty midcap 100 index rising 3 percent and the smallcap 100 index gaining 2 percent in the week ended December 2.
One97 Communications | CMP: Rs 536.95 | The stock price of Paytm parent jumped over 15 percent after the company sounded optimistic about its growth and reasserted its guidance on turning profitable at an operating level next year. “Management stated that the journey to attain operating profitability (EBITDA before ESOP cost) via consistent margin improvement has exceeded its expectations in the past few quarters,” ICICI Securities, which attended the company’s analyst day meet, said in a note. Brokerage firm CLSA, which recently upgraded the stock to "buy" from "sell", said guidance on free cash flow was in line with its view that the company’s cash burn would likely end over the next four to six quarters.
Bandhan Bank | CMP: Rs 240.10 | The scrip gained over 9 percent during the week. Plutus Wealth Management acquired shares of the private lender for Rs 212 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Plutus Wealth Management LLP purchased 90 lakh shares in the company. The shares were bought at an average price of Rs 235.65 apiece, taking the aggregate value to Rs 212.08 crore. The global research and broking firm CLSA retained a "buy" call on the stock, with a target of Rs 300 a share, an upside of 25 percent from the current market price. "Over the medium term, the bank's strategy remains diversification to non-MFI categories, with the company to increase exposure to states beyond West Bengal and Assam within MFI," CLSA said.
IRFC | CMP: Rs 34.50 | The stock was up over 8 percent in the week gone by amid expectations of some announcement related to the railway sector in the budget. Around 300-400 Vande Bharat trains are expected to be announced in the budget 2023-24 as part of the Indian Railways’ plan to modernise its rolling stock, a report said. The company clocked over Rs 6000 crore in annual profit last year and reported an AUM of Rs 5 lakh crore. The firm records zero NPAs in its books, with the company also exempt from paying income tax as per a government statute.
Trident | CMP: Rs 37.55 | The share added over 7 percent last week. Trident has been granted a patent for "fabric and method of manufacturing fabric" by the Patent Office India. The invention comprises a method of producing a fabric by subjecting it to a special treatment, thereby obtaining increased air space in the resultant fabric, the company said in an exchange filing. This will help the company to deliver its special soft towels without using chemical-based fibres, enabling it to save the environment and at the same time to deliver its soft luxury towels in the Indian market, it said.
BHEL | CMP: Rs 90.55 | The share price added over 10 percent in the week gone by. The state-owned firm entered the race for the mega Rs 58,000-crore contract to manufacture 200 Vande Bharat trains and maintain them for the next 35 years, according to media reports. The Indian Railways plans to roll out the first sleeper version of the Vande Bharat train by the first quarter of 2024. Till now, the railways has awarded contracts for manufacturing 102 Vande Bharat trains which are all chair cars.
Coforge | CMP: Rs 4237.50 | The scrip was up over 7 percent after the digital services and solutions provider entered into an expanded global partnership with American specialty insurance major Tokio Marine HCC (TMHCC) to drive IT transformation worldwide. The scope of services includes running, building, and transforming UI/UX services, data, and analytical reporting, managing application services, and infrastructure services to enable business agility, superior customer experience and doing more with less.
Zomato | CMP: Rs 68.55 | The stock price gained over 7 percent in the week gone by. Temasek, an investment fund owned by the government of Singapore, raised its stake in the company. Motilal Oswal Financial Services has a "buy" call on the stock with a target price of Rs 86 with a time horizon of one to three months. Jefferies, in a recent report, maintained a "buy" call with a target price of Rs 100. While the company’s guidance on food delivery break-even by September 2023 stays, the management intends to balance growth and profitability and will not compromise on the former, it said.
NLC India | CMP: Rs 88.25 | The scrip added 5 percent after the company signed a memorandum of understanding with the Odisha government for the development of renewable energy projects. The MoU envisages setting up ground-mounted or floating solar power projects, pumped hydro storage projects, green hydrogen projects and any other renewable projects.
Laurus Labs | CMP: Rs 423.60 | The share price shed 7 percent after Kotak Institutional Equities downgraded the stock to "sell" with a fair value of Rs 350 a share and also revised FY2024 EPS for the company to 34 percent lower than Dalal Street. The brokerage believes that Laurus’ troubles with anti-retrovirals (ARVs) and a looming cessation of paxlovid sales are being underappreciated. Kotak expects Laurus’ ARV realisation to stay under pressure. In a statement Kotak called Laurus Labs a “castle in the sky”, noting that even as volumes pick up, the company’s ARV realisation “will stay under pressure, as it bids for winner-takes-all tenders and lower long-term tender prices”.
Nureca | CMP: Rs 519.80 | The stock was down over 7 percent in the week gone by. Promoter Payal Goyal sold 55,863 shares through a bulk deal in the open market at Rs 546 a piece on November 29. In the quarter ended September 30, Goyal held a 35% stake or 34.99 lakh shares in the company. Five promoters held a 70 percent stake or 69.99 lakh shares of the firm at the end of Q2. On the other hand, public shareholders held a 30% stake or 3 lakh shares at the end of the September quarter. The firm reported a loss of Rs 2.89 crore in Q2 against a profit of Rs 5.43 crore in the September quarter of the previous fiscal. Sales slipped 21.64% to Rs 36.78 crore in the last quarter against Rs 46.94 crore in Q2 of the previous fiscal.
No comments:
Post a Comment