Whirlpool and Polycab India were the top gainers while YES Bank tanked 18 percent for the week.
The Sensex and the Nifty closed the week with losses of about 1 percent. The Nifty, which hit a record high of 12,158 last week, failed to hold onto the momentum and closed with losses of 1.1 percent for the week ended December 6.
Experts are of the view that selling was largely seen in the rate-sensitive pack after the RBI policy outcome. The consolidation may continue in the coming week as well, but 11,700-11,800 is likely to act as crucial support for the Nifty, they say.
Below are the top 10 stocks which moved the most this week:
Whirlpool, up 9%
The share price of Whirlpool gained over 9 percent for the week on consistently strong financial performance. A sharp gain in the market price has seen the company enter the list of top 100 companies with the highest market capitalisation.
Whirlpool of India posted 19 percent YoY growth in its consolidated revenues to Rs 3,368 crore in the first half (April-September) of the financial year 2019-2020 (H1FY20), despite facing capacity constraints of direct-cool refrigerator. Profit before tax jumped 19 percent at Rs 443 crore over the same period last fiscal.
Polycab India, up 9%
The share price of Polycal India was up 9 percent for the week. The company was included in the MSCI Global Small Cap Index with effect from November 26, 2019. In the past two months, the stock rallied 57 percent after its net profit more-than-doubled to Rs 194 crore in the September quarter (Q2FY20) on the back of strong revenue growth.
Oberoi Realty, up 8%
Real estate company Oberoi Realty added 8 percent for the week. The company is in talks with Marriott International for a 120-room luxury five-star hospitality project as part of its total 1.8-million sq ft mixed-use project in Mumbai’s Worli locality, according to sources.
NMDC, up 7%
The share price of country's largest iron ore miner NMDC was up 7 percent for the week, it reported 3.36 percent increase in cumulative iron ore sales to 19.99 million tonnes between April-November 2019 as against a sales of 19.34 mt in the same period last year. NMDC got relief as the Chhattisgarh government decided to renew the lease of four mines that were at stake following development in Karnataka.
Dr Lal Pathlabs, up 6%
The share price of Dr Lal Pathlabs gained 6 percent for the week after global research firm CLSA retained buy rating on the stock price in the long term and increased target price to Rs 1,800 from Rs 1,330. The company's consolidated Q2 net profit rose 41.4 percent at Rs 81 crore against Rs 57.3 crore while the revenue was up 15.1 percent at Rs 365.6 crore versus Rs 317.5 crore year-on-year (YoY).
The tax expense of the company stood at Rs 21.3 crore versus Rs 30.8 crore YoY. The earnings before interest, tax, depreciation and amortisation (EBITDA) was up 25.5 percent at Rs 109 crore while the EBITDA margin was up 250 bps at 29.8 percent.
YES Bank, down 18%
The share price of private banking major YES Bank fell over 18 percent for the week after Moody's downgraded the bank's ratings and assigned a negative outlook.
Moody's Investors Service has downgraded the company's long-term foreign-currency issuer rating to B2 from Ba3, as per a BSE release. The rating agency has also downgraded the bank's long-term foreign and local currency bank deposit ratings to B2 from Ba3, foreign currency senior unsecured MTN program rating to (P)B2 from (P)Ba3, and baseline credit assessment (BCA) and adjusted BCA to b3 from b1.
Moody's expects bank's common equity tier 1 (CET1) ratio of 8.7 percent at the end of September to come under significant pressure, unless the bank can raise new capital in the next few quarters.
Jindal Steel & Power, down 13%
The share price of Jindal Steel & Power was down over 13 percent. The Supreme Court refused to pass an interim order in the Sarda mines case, after which shares of JSPL fell. "The court has not given any decision on the Sarda case. It has only deferred the hearing to January 17. Deferral does not mean refusal at all," said VR Sharma, managing director, JSPL.
Union Bank of India, down 13%
PSU Bank Union Bank of India shed 13 percent after the RBI decided to keep interest rates unchanged. It also resulted in the PSU Bank index tanking 3 percent on December 6. The bank reported a net loss of Rs 1,194 crore for July-September due to higher provisioning. The bank had a net profit of Rs 139 crore in the same quarter of 2018-19. Total income for the September quarter rose to Rs 10,556.57 crore from Rs 9,438.26 crore in the same period a year ago, the bank said in a regulatory filing.
HDFC AMC, down 10%
The share price of HDFC Asset Management Company was down 10 percent after foreign promoter Standard Life Investments started selling some stake in the company through an offer for sale. Standard Life Investments on December 3 told exchanges that through an offer for sale, it would sell up to 4,750,000 equity shares (representing 2.23 percent of the total paid-up equity share capital) of HDFC AMC, with an option to additionally sell up to 3,850,000 equity shares (representing 1.81 percent).
RBL Bank, down 9%
RBL Bank share price shed over 9 percent for the week. The bank raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth. In a statement, RBL Bank said: "it has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including a premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares."
"This capital infusion significantly enhances our capital adequacy, and positions us well to capitalise on the various growth opportunities available to us, especially as economic growth returns to normal," RBL Bank MD and CEO Vishwavir Ahuja said.
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