Moneycontrol Be a Pro
Get App
Last Updated : Sep 22, 2018 01:06 PM IST | Source:

Lousy week for stock markets: Check out the top 10 gainers and losers

For the week, Nifty 50 index ended down 372.1 points at 11,143.1 (3.23 percent), while Sensex shed 1,249.04 points closed at 36,841.6 points (3.27 percent).

  • bselive
  • nselive
Todays L/H

The market witnessed sustained selling throughout the week as Nifty slipped below 11,000 but managed to end above the crucial level after some buying seen at the end of Friday. Sensex also broke 38,000 level in the week gone by.

India's volatility index (India VIX) was up 12.28 percent last week. The smallcap index was down 5.54 percent, midcap index shed 4.61 percent, while largecap index ended 3.34 percent lower.

For the week, Nifty 50 index ended down 372.1 points at 11,143.1 (3.23 percent), while Sensex shed 1,249.04 points closed at 36,841.6 points (3.27 percent).


Here is the list of 10 stocks which moved most in the last week:

Yes Bank | Down 29 percent

Reserve Bank of India (RBI) cut the tenor of Rana Kapoor, a promoter, chief executive and managing director of the company, till January 31, 2019. The share touched a 52-week low of Rs 210.10.

The board of directors of the bank are scheduled to meet on September 25, 2018 to decide on the future course of action.

Also, Moody's Investors Service on Thursday affirmed its ratings on the bank. The rating agency has maintained the outlook on the ratings as stable.

Brokerages including, IDFC Securities, Citi, Goldman Sachs and Nomura downgraded stock and cut the target price up to Rs 230 per share.

Dewan Housing Finance Corporation (DHFL) | Down 42.8 percent

DSP Mutual Fund is believed to have sold DHFL paper at 11 percent discount in a bid to make provisions for its exposure to IL&FS’ paper.

Kapil Wadhawan, CMD, DHFL said," We wish to categorically state that DHFL has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its repayment of any liability. We do not have any exposure with IL&FS."

DSP MF sold commercial papers worth about Rs 200-300 crore of the company recently. Wadhawan told CNBC-TV18 that this is just a secondary trade between parties. "This panic has no fundamental reasons, there must be cascading effect as we have good asset quality and NPAs are fine."

Bajaj Hindusthan Sugar | Up 22 percent

The share of sugar companies continued their upward momentum in this week after Cabinet Committee on Economic Affairs raised prices of ethanol by 25 percent in the last week.

However, the stock pared some of its week gains after Competition Commission of India (CCI) has imposed a penalty of Rs 12.35 crore for alleged contravention of provisions of the Competition Act.

Competition Commission of India (CCI) vide its order dated September 18 has passed an order against various sugar companies including Bajaj Hindusthan Sugar for alleged contravention of provisions of The Competition Act, 2002 in respect of joint tender floated by oil marketing companies (OMCs) for supply of ethanol and imposed penalty of Rs 12.35 crore.

Vijaya Bank & Bank of Baroda | Down 17 percent

Shares of Bank of Baroda and Vijaya Bank declined up to 18 percent in the last week post government announced the merger of three public sector banks (PSBs) including Bank of Baroda, Dena Bank and Vijaya Bank.

A meeting of board of directors of the companies to consider the amalgamation will be convened by the banks shortly.

KIOCL | Down 25 percent

Board of directors of the company in its meeting held on September 18 approved the proposal to buyback of not exceeding 1,25,88,235 equity shares (representing 1.98 percent of paid up equity) at a price of Rs 170 per share, payable in cash for an aggregate consideration not exceeding Rs 214 crore.

The company has fixed October 1 as record date for the same.

ILandFS Investment Managers | Down 25 percent

ILandFS group stocks declined 7-25 percent during the last week post Infrastructure Leasing & Financial Services (IL&FS) has defaulted on payment of an IDBI Bank letter of credit (LC) due on September 21.

IL&FS also informed that Aditya Birla Finance, one of the creditors of the two project special purpose vehicles, has filed an arbitration application under section 9 of the Indian Arbitration and Conciliation Act, 1996 before the Delhi High Court.

Meanwhile, IL&FS Transportation Networks' subsidiary signed a settlement agreement on various claims filed against NHAI in relation to the work of development, maintenance and management of a highway from Moradabad to Bareilly in the State of Uttar Pradesh, company said in release.

Jet Airways | Down 14 percent

Income tax department has been conducting survey since Wednesday morning in airline's Delhi and Mumbai offices. The company was under the scanner of Income tax department from March this year even before the quarterly result was postponed.

Income tax department conducted survey under section 133A of Income Tax Act to inspect book of accounts of the company.

Moreover, on Thursday, at least 30 passengers on a Jet Airways flight from Mumbai to Jaipur suffered nose and ear bleeding after the crew "forgot" to turn on a switch that controls cabin air pressure.

Kwality | Down 16 percent

The company withdraw the instant QIP offer with immediate effect as the company could not generate interest of investors for the entire Rs 80 crore issue due to recent volatility in the share market.

The issue was opened late on September 14, 2018 evening with a floor price of Rs 21.20 per share.

Gujarat Alkalies and Chemicals | Up 8 percent

The commercial production at Hydrogen Peroxide Plant at Dahej has been achieved on September 15. The estimated increase in annual revenue of the company from this plant is about Rs 70 crore.

The company board approved merger of Bhavnagar Energy Company with Gujarat State Electricity Corporation, a wholly owned subsidiary of Gujarat Urja Vikas Nigam.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Sep 22, 2018 12:58 pm
Follow us on
Available On