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The market seen some recovery from the lows as it remain volatile during the week. The Sensex managed to close above 38,000, while Nifty Bank ended 2 percent lower.
India's volatility index (India VIX) rose 10.24 percent last week. The largecap ended 0.88 percent lower, midcap fell 2.23 percent, while smallcap was down 1.72 percent.
The S&P BSE Sensex lost 256 points while the Nifty50 ended 0.78 percent lower for the week ended 7 September.
Here is the list of 10 stocks which moved most in the last week:
Texmo Pipes | Gains 57 percent
The company has received an order of HDPE Pipe worth Rs 81.30 crore from Larsen & Toubro, Chennai. The execution period of the said order is 9 months.
Promoters / Promoter Group / Group companies do not have any interest in the entity that have awarded the order and same do not fall under the related party transactions.
The 10th annual general meeting of the company will be held on September 25, 2018.
Adani Enterprises | Down 29 percent
The company's shares have gone ex-gas business from Thursday as the company had decided to hive off the businesses separately. Investors will get one share of Adani Gas for every share of Adani Enterprises held. This segment will be later listed on the exchanges.
Earlier this year, the company had announced the demerger of its city gas distribution unit into Adani Gas. The spin-off will also provide financial flexibility to the business for raising capital, according to a statement by the firm in January 2018.
Adani Agri Logistics, a wholly owned subsidiary (WOS) of the company, has incorporated a WOS named Adani Agri Logistics (Samastipur).
Bharat Electronics | Down 19 percent
State-owned defence company Bharat Electronics share price has been correcting in 9 out of last 10 trading session amid government's likely new pricing policy for defence orders which may limit margin.
The stock hit fresh 52-week low of Rs 89.70 on Thursday despite positive management commentary on new pricing policy and after large block deals on Wednesday.
The downgrade report by Axis Capital also caused selling pressure in the stock. The research house has downgraded the stock to sell and slashed target price by 44 percent to Rs 64 from Rs 115 per share earlier as valuations are expensive for a low-growth company with single customer.
UBS also maintained sell call and cut target price to Rs 95 from Rs 115. "New pricing policy reduced margins on nominated orders to 7.5 percent from 12.5 percent. We estimates a 150-225 bps margin impact due to the new policy."
Caplin Point Laboratories | Gains 17 percent
USFDA (United States Food and Drug Administration) has conducted an inspection at company's Sterile Injectable Site (CP - IV) located at Gummudipoondi from August 30, 2018 to September 06, 2018.
This was a scheduled inspection and at the end of the inspection, there were ZERO 483s.
The 27th annual general meeting of the company will be held on September 28, 2018.
Muthoot Finance | Gains 14 percent
The company has reported robust June quarter numbers as its net profit rose 42.5 percent at Rs 491.55 crore against Rs 344.89 crore. Revenue of the company increased by 19 percent at Rs 1622.88 crore against Rs 1365.23 crore.
The company in its meeting held on September 4 has decided to raise funds up to an amount of Rs 5,000 crore (including the unissued portion from the previous approval of Rs 2,000 crore) by way of private placement(s) of redeemable non-convertible debentures to be issued in one or more tranches.
NCD Committee of board is authorized by board of directors to decide from time to time about tranches and allied matters as per financial requirements of the company.
Aurobindo Pharma | Gains 12 percent
The company is going to acquire commercial operations and three manufacturing facilities from Sandoz Inc. Its wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire commercial operations and three manufacturing facilities in USA from Sandoz Inc., USA, a Novartis Division.
The acquisition includes, in-line portfolio of dermatology and oral solids, authorised generics and in-licensing products and branded dermatology products.
It also includes 3 manufacturing facilities at Hicksville - NY (Derma), Melville - NY(Derma) and Wilson- NC (OSD) and 100 percent shareholding in Eon Labs Inc, a wholly owned subsidiary of Sandoz.
Brokerages including Motilal Oswal, Elara Capital and ICICI Securities has maintained buy call with target up to Rs 915 per share.
Reliance Home Finance | Rises 12 percent
Reliance Home Finance (RHFL), the part of Anil Dhirubhai Ambani Group, is planning to raise Rs 1,500-2,000 crore through preferential issue, reports CNBC-TV18 quoting sources. The stock rallied 12 percent intraday Thursday.
Sources told the channel that the home finance company may do a preferential issue of up to 24.9 percent equity. It is in talks with Abu Dhabi Investment Authority for the equity placement.
Meanwhile, the company clarified that it has entered into exclusive discussions with an overseas institutional investor, for a potential equity investment by the Investor in RHFL, along with an appropriate governance framework.
Cyient | Gains 8 percent
Cyient Solutions and Systems, a joint venture between Cyient and Israel-based BlueBird Aero Systems has received first supply order from a unit of the Indian Army for SpyLite mini UAV systems for high altitude aerial surveillance.
Morgan Stanley said this new order opened up new opportunities in ‘Make In India’ segment for the company. The broking house overweight on the stock with target price at Rs 825 per share, implying 13 percent potential upside.
SpyLite is an advanced, combat-proven, electric, mini unmanned aerial system.
Cyient Australia Pty, a wholly owned subsidiary of the company has acquired 86 percent stake in Cyient KK, Japan (another wholly owned subsidiary of the company).
Welspun Corp | Gains 8 percent
The company entered in to an agreement for supply of at 220 KMT of pipes for Oil & Gas project in the Americas region.
With this addition, the company's current order book stands at 1,776 KMTs valued at Rs 150 billion.
Wipro | up 7 percent
The company signed a USD 1.5 billion-deal for ten years with Lincolnshire, Illinois-based Alight Solutions, a company that deals in technology-enabled health, wealth, HR and finance solutions. The company also completed acquisition of Alight HR Services India, which it had earlier bought for USD 117 million.
This deal will result in revenues of USD 1.5 to 1.6 billion for Wipro over the tenure. This is Wipro’s largest win to date.
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