In the week gone by benchmark indices hit fresh record highs with pharma and energy stocks outshining among the sectors. Sensex touched record high of 38,487.63, while Nifty made a high of 11,620.7.
Among the stocks, L&T (up 8.2%), ONGC (up 7.2%), Reliance Industries (up 6.2%), Wipro (up 4.5%) and Vedanta (up 4.1%) were the top gainers on the Sensex, while Yes Bank (down 4.6%), Infosys (down 3.6%), IndusInd Bank (down 3.1%), ICICI Bank (down 2.9%) and Hero Motocorp (down 1%) were among the major losers.
For the week, largecap added 0.9 percent, midcap rose 1.51 percent, while smallcap ended on flat note.
Here is the list of 10 stocks which moved the most in the last week:
Welspun Corp | Up 27 percent
Welspun Corp entered into an agreement for supplying 56 KMT of pipes for oil & gas project in the US.
With this addition, its current order book stands at 1,605 KMTs valued at Rs 12,000 crore.
The company has been selected for the Gold Medal in National Awards for Manufacturing Competitiveness 2017-18 by the International Research Institute for Manufacturing, India.
Man Infraconstruction | Up 16 percent
The company's subsidiary won an arbitration award of Rs 337.88 crore. The Hon`ble Arbitrator, in relation to arbitration proceedings between Manaj Tollway (MTPL), a subsidiary of the company and Public Works Department (PWD), Pune, has directed PWD to pay a sum of Rs 337.88 crore to Manaj Tollway.
As per arbitral award, interest at 15 percent p.a. for the period from date of aforesaid arbitral award till the date of actual payment shall be payable by PWD.
MTPL had given termination notice and invoked arbitration against PWD, Pune in relation to the project of four laning to Hadapsar- Saswad- Belsarphata & Belha- Pabal- Uralikanchan- Jejuri- Nira district Pune on DBFOT basis.
Zensar Technologies | Up 16 percent
The comapny has signed a Global OEM partnership with PTC. The PTC ThingWorx loT Platform is one of the leading loT platforms globally.
The scope of the agreement involves collaboration in the areas of retail, hi-tech and manufacturing. Zensar will build and offer IOT solutions in these areas to joint customer prospects.
Suven Life Sciences | Up 12 percent
The company has been granted 1 product patent from Canada and 1 process patent from USA corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2034.
The granted claims of the patents include the class of selective 5-HT6 compounds, respectively, and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia and sleep disorders like Narcolepsy etc.
Cadila Healthcare | Up 11 percent
The USFDA inspected company's biologics manufacturing facility (Zydus Biologics) located at the Zydus Biotech Park in Ahmedabad, from August 14 to 24, 2018. At the end of the inspection, no observation (483) has been issued.
Prataap Snacks | Up 11 percent
The company board at its meeting held on August 22, approved strategic investment in Avadh Snacks by acquisition of 76.88% of the share capital of the Avadh Snacks from its existing shareholders.
Also, the company will do subsequent equity investment of up to 3.12% of the share capital of the Avadh Snacks, post completion of above acquisition.
Pursuant to the above transaction, the company will also indirectly acquire control of Red Rotopack, which is a wholly owned subsidiary of Avadh Snacks.
L&T | Up 8 percent
The company on Thursday approved a buyback proposal of 6 crore shares, amounting to Rs 9,000 crore, at a price of Rs 1,500 apiece. This is a premium of 13.45 percent as of Tuesday’s closing price of Rs 1,322.15.
The number of shares make up for 4.9 percent of total paid up equity share capital.
“The buyback is proposed to be made from the shareholders of the Company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the Regulations and the Companies Act, 2013 and rules made thereunder,” the company said in a filing to the exchanges.
Vadilal Industries | Down 18 percent
Ace investor Ashish Ramchandra Kacholia reduced his stake further in ice cream maker Vadilal Industries for second consecutive session on Tuesday.
Kacholia on Tuesday sold 1,42,527 equity shares (representing 1.98 percent of paid-up equity) of the company at Rs 548.35 per share.
On Monday, he sold 3.62 lakh equity shares (3,06,045 shares on NSE and 56,260 shares on BSE) through open market transactions, at a price of Rs 612.18 per share and Rs 604.05 respectively.
The total stake, which he offloaded in two days, was worth Rs 30 crore.
Hexaware Technologies | Down 11 percent
Baring PE sold 8.4 percent stake in Hexaware via block deals. Baring PE disposed equity shares through HT Global IT Solutions Holdings, an investment vehicle through which Baring Asia holds a controlling stake in Hexaware.
On August 24, HT Global IT Solutions Holdings sold 2,50,00,000 shares of the company at Rs 447.83.
The buyers were Citigroup Global Markets Mauritius and Societe Generale, bought 38,53,600 shares at Rs 447.50 and bought 41,00,000 shares at Rs 447.50 respectively, as per NSE data.
Jet Airways | Down 8 percent
The audit committee and the board of directors at their meeting scheduled to be held on August 27, 2018, to consider the unaudited financial results for the quarter ended June 30, 2018 will, take up the matters in relation to the cost reduction initiatives and turnaround plan.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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