The range-bound market ended flat during the week ended November 15 amid weak macro data and no major development on the global front.
The Sensex rose 33.08 points to end at 40,356.69, while the Nifty was down 12.65 points ended at 11,895.5 in the last week.
Foreign Institutional Investors (FIIs) sold equities worth Rs 321.30 crore, while Domestic Institutional Investors (DIIs) also sold equities worth of Rs 514.61 crore.
The BSE mid-cap index was up 0.28 percent, while the small-cap index fell 1.10 percent and the BSE large-cap index was down 0.22 percent in the past week.
Here are the top 10 stocks which gained or fell the most in the last week:
Prime Focus | Down 20 percent
Shares price fell 20 percent in the past week after the company's UK subsidiary postponed its initial public offering (IPO) plan.
DNEG Plc decided to put off the IPO initial due to ongoing market uncertainty, the company said in a release.
The company had received a strong level of interest from investors and therefore, would be assessing when to recommence the IPO plans, it added.
Reliance Power | Down 18 percent
The share price declined 18 percent after the company reported a poor set of numbers for the September quarter.
The company's Q2 net profit fell 69.4 percent at Rs 45.1 crore versus Rs 147.4 crore, while revenue was down 6 percent at Rs 2019.6 crore versus Rs 2148.9 crore, year-on-year (YoY).
Earnings before interest, tax, depreciation and amortisation (EBITDA) were down 14 percent at Rs 845.2 crore versus Rs 982.5 crore, while the EBITDA margin was down 380 bps at 41.9 percent, YoY.
Suzlon Energy | Down 15 percent
In the past week, Suzlon share price slipped 15 percent after the company's net loss widened in the quarter ended September 2019 (Q2FY20).
The company reported the net loss at Rs 777.5 crore against loss of Rs 627.4 crore in the same quarter last fiscal. Revenue was down 32 percent at Rs 803.1 crore versus Rs 1,195 crore.
"Our operations are at a sub-optimal level due to liquidity challenges being faced by the company. We remain focused on cost optimisation across the board including the cost of goods sold (COGS) and fixed costs," Suzlon Energy CFO Swapnil Jain said.
Edelweiss Financial Services | Up 16 percent
Shares of Edelweiss Financial Services gained 16 percent after a private equity firm said it is going to invest Rs 525 crore in the company's investment advisory business.
Sanaka Capital along with co-investors will be investing up to $75 million (Rs 525 crore) into Edelweiss Global Investment Advisors (EGIA), the Group’s Investment Advisory business.
The proposed investment in the business is subject to regulatory approvals.
Sanaka Growth SPV I (part of Sanaka Capital) has committed approximately $44 million (Rs 308 crore) in EGIA, while talks are on for a further investment of approximately $31 million (Rs 217 crore) in the business.
The company's consolidated Q2FY20 net profit fell 81 percent at Rs 51 crore against Rs 272 crore in Q2FY19. Total revenue was down 10 percent at Rs 2,405 crore versus Rs 2,676 crore, YoY.
Rakesh Radheshyam Jhunjhunwala holds 10,000,000 equity shares (1.07 percent) in the company, as per BSE shareholding data as on September 2019.
Essel Propack | Up 15 percent
The company reported better-than-expected numbers in the quarter ended September 2019 as its consolidated Q2 net profit was up 12 percent at Rs 60.40 crore against Rs 53.78 crore in the year-ago period.
Revenue of the company was up 7 percent at Rs 730.54 crore versus Rs 683.47 crore.
The board also approved an interim dividend of Rs 1.25 per equity share of the face value of Rs. 2 each.
The interim dividend will be paid to the members whose names appear on the Register of Members/beneficiary ownership position as on the 'Record Date' ie 20 November 2019.
In separate news, the company board appointed Parag Shah as the chief financial officer w.e.f. November 25, 2019.
Lux Industries | Up 10 percent
Hosiery products maker Lux Industries reported a 95.5 percent YoY growth in Q2FY20 consolidated profit at Rs 41 crore on revenue of Rs 352.4 crore that grew by 27.2 percent YoY.
EBITDA increased 24.9 percent to Rs 51.9 crore, but margin contracted 30bps YoY to 14.7 percent in the quarter ended September 2019.
"The strong festive demand drove Q2 performance. Winter-wear contributed 20 percent to topline and we have not provided any additional discounts to push products," Udit Todi, President Strategy at Lux Industries told CNBC-TV18.
He said cotton prices were on the lower side currently and exports grew by 20-25 percent in Q2. "Winter-wear sales are growing at 10-15 percent in Q3 so far and any change in cotton prices are passed on to the customer to keep margins intact," Todi added.
Dixon Technologies | Up 20 percent
Shares of Dixon Technologies gained 20 percent in last week after healthy earnings growth in Q2FY20 and strong management commentary.
The stock touched fresh 52-week high of Rs 3,375.90 on the BSE.
"We will surpass our earlier guidance of 40 percent revenue growth for FY20. In fact, we are looking at 50 percent revenue growth for FY20," Saurabh Gupta, Chief Financial Officer told CNBC-TV18.
He said the company has been adding customers across all the segments. "Additional capacity and exports will drive lighting business. Cash conversion cycle is zero days currently," he added.
The lighting products, LED TVs and semi-automatic washing machines manufacturer and supplier reported highest ever quarterly sales in Q2FY20, driven by the consumer electronics segment.
Consolidated revenue during the quarter grew by 89.8 percent YoY to Rs 1,402 crore and profit increased 162 percent YoY to Rs 43 crore due to lower tax cost (down 35 percent), but finance cost was higher at Rs 93 crore in Q2 against Rs 49 crore YoY.
Consolidated EBITDA shot up 92.6 percent YOY to Rs 63.1 crore and margin expanded 10bps YoY to 4.5 percent in the quarter ended September 2019.
Consumer electronics segment registered a 105 percent growth YoY at Rs 740 crore, lighting segment grew by 49 percent YoY to Rs 280 crore and home appliances business increased 34 percent YoY to 140 crore while mobile phone segment (including the effect of 100 percent stake in Padget Electronics) showed 204 percent growth YoY to Rs 190 crore in Q2.
Brokerages also remained positive on the stock after stellar earnings performance and expect a double-digit return.
"We remain positive on Dixon Technologies and expect a potential upside of 19-21 percent as the company delivered a healthy set of Q2FY2020 numbers and is likely to report robust revenue and earnings CAGRs of 19.6 percent and 33.7 percent, respectively, over FY2019-FY2022," Sharekhan said.
"We raised FY20/21E EBITDA by 8 percent/10 percent as we incorporate higher growth in the revenues of consumer electronics and lighting, along with a turnaround in servicing business," said Emkay which maintained buy call on the stock with a revised target price of Rs 3,605.
Amara Raja Batteries | Up 14 percent
The brokerage houses retained a bullish stance on the stock after the company showed consistent margin growth performance in Q2FY20.
At the operating level, EBITDA grew by 22.9 percent YoY to Rs 292 crore and margin expanded 388bps YoY to 17.2 percent in the quarter ended September 2019, beating analyst estimates.
Margin has risen for the fifth consecutive quarter due to the lag impact of 7 percent fall in lead prices in Q1FY20. Raw material cost as a percentage of sales fell 65 percent from 69.3 percent quarter-on-quarter (QoQ). The gross margin improvement was supported by lower lead prices and better mix across segments.
Profit during the quarter shot up 82 percent YoY to Rs 218.6 crore due to lower tax expenses.
Despite the steep fall in OEM revenues and lower realisations, Amara Raja's Q2FY20 revenues declined only marginally by 3.3 percent YoY to Rs 1,695 crore on healthy growth in replacement and industrial segments.
"We expect revenue/earnings CAGRs at 8 percent/16 percent for FY19-22. The average return on equity/return on capital employed will likely to be strong at 17 percent/22 percent over FY20-22E. In addition, free cash flow generation should remain healthy at an average of Rs 42 crore per year over this period," said Emkay which maintained a buy rating on the stock.
The brokerage revised its target price to Rs 784 (up from Rs 760 earlier), implying 20 percent potential upside from current levels.
Motilal Oswal upgraded its FY20 EPS estimates by around 13 percent (FY21 by around 2 percent) to factor in the benefit of lower lead prices and mix.
"We maintain a buy call with a target price of Rs 790, implying 21 percent potential upside from current levels," it said.
ITD Cementation India | Down 11 percent
The company reported consolidated net profit which dipped 20.5 percent in the September quarter.
Sales of the company rose 14.3 percent to Rs 709.12 crore in the quarter ended September 2019 as against Rs 620.38 crore during the previous quarter ended September 2018.
In an interview to CNBC-TV18, ITD Cementation's Chief Financial Officer Prasad Patwardhan said that the company has secured order worth Rs 4,000 crore in H1 while it received Rs 2,000 crore order inflow post Q2. It further said that execution remains robust so far in FY20 adding that order book stands at Rs 11,000 crore as of September 2019.
The company's order book included 30 percent each from marine and metro segments while it has taken up an order to construct Pune and Trichy airport. ITD Cementation's order book currently stands at Rs 13,000 crore, Patwardhan added.
ITD Cementation's receivables inched higher due to better execution and its consolidated net debt stands at Rs 470 crore. Kolkata project won’t impact margins significantly while the metro project might impact cash flows in the near term, Patwardhan added.
Reliance Communications | Down 14 percent
The share price of Reliance Communications fell more than 14 percent in the past week after the company postponed its November 12 schedule to November 15 to consider and approved the unaudited financial results (standalone and Consolidated) for the quarter ended September.
However, the company reported its Q2FY20 consolidated net loss at Rs 30,158 crore against loss of Rs 366 crore in Q1FY20.
Revenue of the company declined 65.1 percent at Rs 302 crore versus Rs 856 crore and EBITDA loss stood at Rs 66 crore versus EBITDA of Rs 60 crore, QoQ.
The company's Q2FY20 consolidated net loss include exceptional loss of Rs 1,250 crore.
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