Adani Green and L&T Finance Holdings are the top gainers while Zee Entertainment was the top loser.
The index closed way below 12,100 and formed a bearish candle that resembled a bearish belt hold pattern on the daily charts. On the weekly scale, it formed a bullish candle, as the index gained more than a percent during the week. For the week, both Sensex and Nifty rose by over a percent.
The overall market capitalisation of BSE-listed firms dropped to Rs 15,475,077.14 crore from Rs 15,557,484.15 crore on November 28, making investors poorer by Rs 82,407 crore in a single day.
Here is the list of top 10 stocks which moved the most this week:
Adani Green, up 28%
The share price of Adani Green zoomed 28 percent this week with the stock spiking 120 percent in the last two months. The company posted a consolidated net profit of Rs 102 crore profit for the September quarter of 2019-20. It reported a loss of Rs 188 crore in the year-ago period, a BSE filing said. Total income rose to Rs 711.96 crore in the second quarter from Rs 458.89 crore a year ago.
"Adani Green Energy continues to expand and invest in the renewables spectrum following the government's mission to be the world's largest renewable energy expansion programme of 175GW till 2022. The company will continue to provide reliable, sustainable, round the clock green power for India's growing power demands and needs," said Chairman, Gautam Adani.
L&T Finance Holdings, up 24%
L&T Finance Holdings gained over 24 percent this week after plans to raise Rs 60 crore through the private placement of Non-Convertible Debentures (NCDs).
The company's committee of directors has approved raising of funds up to Rs 60 crore through issuance of cumulative compulsorily redeemable non-convertible preference shares on a private placement basis, L&T group company said in an exchange filing on November 26. The stock gained over 33 percent in the last three months.
During the last quarter, the company reported 68.87 percent decline in net profit at Rs 174 crore compared to a net profit of Rs 559.12 crore in the same quarter last year. Total income during the second quarter of 2019-20 increased to Rs 3,711.85 crore as against Rs 3,302.35 crore in the year-ago period.
Future Consumer, up 23%
FMCG major Future Consumer jumped 23 percent after the Competition Commission of India (CCI) said it has approved Amazon.com NV Investment Holdings' proposal to acquire about 49 per cent share in Future Coupons (FCL) - a subsidiary of Future Group.
"The proposed combination pertains to the acquisition by the acquirer (Amazon) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons)," a statement said.
The proposed combination consists of certain other constituent steps involving Future Coupons (FCL), Future Corporate Resources (FCRPL) and Future Retail (FRL).
Indiabulls Housing Finance, up 22%
Indiabulls Housing Finance rallied 22 percent after the government filed an affidavit in the Delhi High Court saying there are no irregularities in Indiabulls Housing Finance's books (IBHF) as far as loans given to some of the entities are concerned.
“As far as the loans given by IBHF to five companies — DLF, Amricorp, Vatika, ADRG and Chordia reported to be Standard Accounts. Remaining issues/violations reported in the inspection report are under examination and same will be dealt as per law,” said an affidavit filed by the ministry of corporate affairs (MCA).
Global brokerage firm CLSA maintained ‘Buy’ rating on Indiabulls Housing Finance and revised target price of Rs 450 (earlier: Rs 350). It said that clarity on court case can lend relief to the company. “MCA affidavit should abate concerns,” said CLSA.
Biocon, up 10%
The share price of pharma company Biocon gained 10 percent for the week after the US drug regulator approved the company's supplemental biologics license application for Pegfilgrastim new manufacturing facility.
The company also received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Biologics drug product facility in Bengaluru.
The USFDA in October had also approved Biocon's new Drug Product (DP) filling line for biosimilar Trastuzumab 150 mg vials at the Biologics facility in Bengaluru, following a pre-approval Inspection (PAI) of the facility in September 2019.
Zee Entertainment, down 18%
The share price of Zee Entertainment was down 18 percent this week after the resignation of its promoter Subhash Chandra. Two former directors – Subodh Kumar and Neharika Vohra – along with Non-Independent Director Subodh Kumar, resigned from the Zee board on November 25.
According to a regulatory filing by Zee, Kumar and Vohra raised concerns over several issues, which included discrepancies in spending CSR funds.
"Government is serious about CSR fund utilisation and if any discrepancy is found in this case, ministry can take action. Prima facie it seems the fund was used for their own association, which may call for an enquiry,” a source told Moneycontrol.
Sterling and Wilson, down 8%
Sterling and Wilson share price was down 8 percent this week after Market regulator SEBI examined whether the promoters of Sterling & Wilson Solar (SWL) side-stepped regulatory norms and diverted funds raised in the initial public offer (IPO).
The company said it will work with the promoters to draw up a plan by December 31, 2019, for repayment of the balance amounts. SPCPL will endeavour to reduce the outstanding loan by Rs 1,000 crore from the level as of the date of listing, by December 31, 2019.
Fortis Healthcare, down 4%
The share price of Fortis Healthcare was down 4 percent following the Delhi High Court on November 27 sent Religare Enterprises’ erstwhile promoter Malvinder Singh and former managing director Sunil Godhwani to Enforcement Directorate custody for a day for a money-laundering case.
Also, Fortis Healthcare announced that CARE Rating has withdrawn CARE BBB- / CARE A3, Credit watch with developing implications (CARE Ratings) in respect of the Company's long term bank facilities and short term facilities and CARE BBB- Credit watch with developing implications in respect of its Subsidiary (Escorts Heart Institute & Research Centre) for short term bank facilities.
RITES, down 5%
Share price of RITES was down 5 percent this week after the government announced to sell up to 15 per cent of its holding in the railways' firm, at a discounted price of Rs 293.5 per share via offer for sale (OFS) route. The sale would fetch the government Rs 1,100.6 crore."In a bid to meet the Securities and Exchange Board of India's (Sebi's) requirement of minimum shareholding, the government intends to sell up to 25 million shares, representing 10 per cent of the company's capital, to non-retail investors on November 22," the company informed the exchanges in a regulatory filing.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.