10 stocks which moved the most last week; Shree Renuka Sugar, KIOCL top the charts

The Nifty Bank, Auto, Metal, Pharma and Realty indices gained between 1 percent and 3 percent while the broader markets also participated in the up move with the Nifty Midcap index rising over 1.5 percent.

Global investment firm Morgan Stanley has raised its 30-share BSE Sensex target to 42,000 for September 2019, implying a potential upside of 11 percent.

Individual stocks as always didn't disappoint to give handsome returns. Let's take a look at the top 10 stocks which moved the most last week:

Shree Renuka Sugar, up 29.26%

Prices of sugar stocks including Shree Renuka Sugar zoomed close to 30 percent in the week gone by after the government approved increase in ethanol prices by 25 percent. The stock price zoomed 20 percent on Friday and it remained there and is expected to give more return in the coming days.

KIOCL, up 27.53%

Share price of KIOCL gained as company board is going to consider buyback of its shares on September 18. The meeting of board of directors of the
company will be held on September 18 to consider the proposal for buyback of the fully paid-up equity shares of the company of face value of Rs 10 each. The trading window for dealing in the securities of the company shall remain closed from September 13 to 20, 2018 (both days inclusive).

Hathway Cable, up 16.06%

Earlier this month shares of Hathway Cable and Datacom jumped 20 percent after company entered in to partnership with Netflix to offer video streaming services to its subscribers. Netflix has partnered Hathway Broadband to offer video streaming services to the latter's eight lakh subscribers. Under the alliance, Netflix will be offered through Hathway's set-top box that includes a remote with a dedicated Netflix button to allow users to launch the service directly.

Rashtriya Chemicals & Fertilisers, up 7.56%

Shares of Rashtriya Chemicals and Fertilisers (RCF) gained as the company received an approval for sell of its TDR (Transfer of Development Rights).
According to Mumbai Mirror report, the company can now sell the TDR that it got from the Mumbai Metropolitan Regional Development Authority (MMRDA) and the BMC. The Union cabinet on Tuesday permitted the RCF to avail a construction bonanza as compensation.

ABB India, up 7.54%

Earlier last week on September 8, ABB Chief Executive Ulrich Spiesshofer met Prime Minister Narendra Modi and discussed how the company can help accelerate transition of public transportation to electric power, the company said Saturday. The meeting between Modi and Spiesshofer took place Friday during the Global Mobility Summit 'MOVE' here.

In a filing to the BSE, power and automation technology firm ABB said Spiesshofer's talks with the Prime Minister focused on how ABB can support the government's renewable energy targets, and accelerate public transportation's transition to electric power.

"By embracing e-mobility now, India can leapfrog other nations and become a world leader in e-mobility, while at the same time reducing emissions and dependence on fossil fuels. ABB is a technology leader for electric mobility and we are well positioned to partner India‘s electric mobility mission 2030,” Spiesshofer said.

NMDC, up 4.2%

State-owned NMDC said it has produced 9.85 million tonne (MT) iron ore in the April-August period of the ongoing financial year. The company produced 6.17 MT iron ore from its mines in Chhattisgarh and 3.68 MT from the mine in Karnataka, NMDC said in a filing to BSE. NMDC also said it sold 11.04 MT iron ore during the said period. Production and sales figures of iron ore are provisional, it added.

"The prices of iron ore with effect from September 7 2018 have been fixed. Lump ore (65.5 percent, 6-40 mm) at Rs 3,550 per tonne. Fines (64 percent, -10 mm) at Rs 3,110 per tonne," it said.

Grasim Industries, up 3.74%

Aditya Birla Group firm Grasim Industries last month reported consolidated net profit of Rs 1,399.51 crore for the first quarter ended June 30, 2018-19. It had posted net profit of Rs 1,248.10 crore during the April-June period of last fiscal, 2017-18. Grasim said in a regulatory filing that its total income during the quarter under review stood at Rs 17,089.65 crore, as against Rs 11,222.17 crore in the year-ago period.

IL&FS Transportation Networks, down 21.39%

LIC, SBI and other key shareholders of debt-ridden IL&FS have asked it to raise funds by selling its assets or non-core businesses as a pre-condition for putting in additional money in the firm, sources said. The shareholders held a meeting Wednesday and it was decided that additional money would be given when Infrastructure Leasing & Financial Services (IL&FS) generates cash on its own by selling some of its assets, the sources said.

IL&FS is seeking an immediate loan of around Rs 3,000 crore from key shareholders to help it tide over a cash crunch.

Unitech, down 11.27%

Earlier in the month of September, The National Consumer Disputes Redressal Commission (NCDRC) has asked real estate giant Unitech Limited to refund over Rs 40 lakh to a home buyer for failing to hand over the possession of an apartment. The apex consumer commission has asked the company to refund within six weeks Rs 42,58,475 and a compensation of simple interest at 12 percent per annum to Noida-resident Rishi Kapoor for a delay of over seven years in handing over the possession.

"Refund an amount of Rs 42,58,475 to the complainant within six weeks along with compensation of 12 percent per annum from the date of payment till the realisation of the amount," Presiding Member of the Commission Justice Deepa Sharma said.

LIC Housing Finance, down 4.24%

LIC Housing Finance will offer loans up to Rs 15 lakh at concessional rate of 8.5 percent to customers in flood affected areas of Kerala. Under the scheme, loan up to Rs 15 lakh will be extended for properties located in the flood affected areas of Kerala for the purpose of reconstruction, repair, renovation or up-gradation of dwelling units, the company said in a statement.

Announcing the plan Monday, LIC Housing Finance said 'Kerala Flood Scheme' will be offered at 8.5 percent special rate of interest. Customers can apply for loan till October 31.

United Spirits, down 3.83%

Global brokerage house Credit Suisse downgraded liquor maker United Spirits to Neutral and also slashed target price of the stock to Rs 610 per share. The research house cut earnings estimates by 9 percent /15 percent for FY19 / FY20 as sharp hike in ethanol prices for fuel blending is a major risk to the business. Gross margin expansion will become very tough, it feels.