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Top 10 stocks that rose or fell in the week

The S&P BSE Midcap index shed 1.31 percent, Smallcap Index was down 0.90 percent and S&P BSE Largecap Index fell 0.59 percent last week.

August 17, 2019 / 01:23 PM IST
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Todays L/H

The market traded in range on the back of no major domestic cues, but concerns over the US-China trade war kept investors cautious in the truncated week, which saw the market open for only three days.

However, buying from domestic instituional investors (DIIs) helped the indices to regain some ground as they bought equities worth Rs 2,879.63 crore.

The BSE and the NSE remained shut on August 12 on account of Eid al-Adha and on August 16 on account of Independence Day.

The S&P BSE Midcap index shed 1.31 percent, the Smallcap Index was down 0.90 percent and the S&P BSE Largecap Index fell 0.59 percent last week.

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


IDBI Bank | Down 9 percent

IDBI Bank has posted a net loss of Rs 3,800 crore for the quarter that ended on June 2019, as against a loss of Rs 2,410 crore for the same period a year ago.

The net interest income (NII) of the company was down 11.1 percent at Rs 1,458 crore, down against Rs 1,639 crore in the same period a year ago.

The company's gross non-performing assets (NPA) was up 160 bps to 29.1 percent against 27.5 percent, while net NPA decreased 210 bps to 8 percent against 10.1 percent, QoQ.

In the absolute terms, the net NPA was down 26 percent to Rs 10,963 crore versus Rs 14,837 crore and gross NPA was up to Rs 51,657 crore against Rs 50,028 crore, quarter-on-quarter (QoQ).

Provisions for the June quarter was down to Rs 6,332 crore against Rs 8,532.78 crore, QoQ, while it increased from Rs 5235.96 crore year-on-year (YoY).

Saregama India | Down 28 percent

The company has reported a net loss of Rs 1.24 crore for the quarter that ended on June 2019, as against a profit of Rs 8.63 crore for the same quarter last fiscal.

However, the revenue of the company has increased to Rs 125.9 crore, up  from Rs 116.69 crore YoY.

ICICIdirect has cut its rating to hold from buy and revised its target to Rs 420 per share.

Shilpa Medicare | Down 26 percent

The company's Q1FY20 net profit declined 53.2 percent at Rs 15.74 crore, against Rs 33.64 crore for the same period a year ago.

Revenues of the company declined 18.8 percent at Rs 161 crore versus Rs 198.2 crore for the same quarter last fiscal.

Earnings before interest, tax, depreciation and amortization (EBITDA) was down 47.4 percent at Rs 28.79 crore, as against Rs 54.71 crore for the same period a year ago. The company's margin fell 973 bps at 17.88 percent versus 27.61 percent, YoY.

Glenmark Pharma | Down 15 percent

Glenmark's consolidated profit for the June quarter 2019 fell by 53 percent to Rs 109.28 crore as compared to the same quarter a year ago, but its figures are not comparable as the last financial year included a one-time forex gain of Rs 138.21 crore.

Consolidated revenue grew by 7.3 percent year-on-year to Rs 2,322.87 crore for the quarter that ended in June 2019.

The company's shares hit more than eight-year low as global brokerages cut its price target after weak June quarter earnings. The stock lost 45 percent in the last nine months and fell up to Rs 360.35 intraday on August 16 — its lowest level since June 2012.

CLSA has maintained its sell call on the stock, but its slashed price target sharply to Rs 350, down from Rs 500 earlier as earnings growth would remain under pressure.

The brokerage cut its FY20-21 EPS estimates by 15-18 percent.

Coffee Day Enterprises | Down 14 percent

Shares of Coffee Day Enterprises lost 65.4 percent of value in 11 consecutive sessions especially since after the death of VG Siddhartha, the founder of Coffee Day Group on July 29.

The stock continued to hit the lower circuit after his death. The market capitalisation fell from around Rs 7,000 crore at peak levels, to Rs 1,399 crore now.

VG Siddhartha's death raised many questions over the debt position of the group. Many media reports indicated that he himself and his companies owe around Rs 11,000 crore to lenders.

Coffee Day Group is likely to sell 90-acre Tech Park, which is owned by founder Siddhartha's real estate venture Tanglin Developments (a unit of CDEL), to Blackstone for around Rs 3,000 crore, sources said.

Divis Laboratories | Down 9 percent

Global brokerage HSBC downgraded the stock and cut its price target after its June quarter earnings missed analyst expectations.

Profit in Q1 grew by 1.8 percent to Rs 272.44 crore, and revenue increased by 17 percent to Rs 1,163 crore as compared to the same period a year ago. On a sequential basis, profit fell 6.7 percent and revenue declined 8.2 percent in Q1.

Earnings before interest, tax, depreciation and amortisation climbed nearly 10 percent to Rs 387 crore, and margin contracted 212bps YoY to 33.3 percent in quarter ended June 2019.

These numbers missed analyst expectations on all parameters. Edelweiss estimated its profit to be at Rs 350.3 crore on revenue of Rs 1,244 crore and EBITDA at Rs 472.5 crore, with a margin at 37.98 percent for the quarter.

HSBC downgraded the stock to hold from buy call, and also slashed its price to Rs 1,670, down from Rs 1,760 after the announcement of its Q1 earnings.

Motilal Oswal maintained its neutral call on the stock with a target price at Rs 1,590, as it lowered earnings estimates by 3 percent for FY20/21 to factor in higher raw material costs over the medium term.

Reliance Industries | Up 10 percent

Shares of Reliance Industries posted the biggest one-day gain in last 10 years on August 13 after Mukesh Ambani promised to ensure the company has zero net debt by the next 18 months through the selling of stake and asset monetisation.

"We have a very clear roadmap to becoming a zero net debt company within the next 18 months that is by March 31, 2021," Chairman and Managing Director, Mukesh Ambani said while addressing company's 42nd Annual General Meeting on August 12.

His roadmap to become zero debt company include transactions with Saudi Aramco and BP, bring strategic and financial investors in consumer businesses, Jio and Reliance Retail, and unlocking options for real estate and financial investments.

Ambani assured shareholders that Reliance will reward them abundantly through higher dividends, periodic bonus issues and other means, and at a more accelerated pace than any time in company's history.

RIL will sell 20 percent stake in oil to chemicals business to Saudi Aramco with an enterprise value of $75 billion, which translated into consideration of $15 billion for the company.

Macquarie upgraded Reliance to outperform and also raised target price to Rs 1,370 from Rs 1,220, implying 19 percent potential upside following the stream of bullish newsflow at the AGM.

Morgan Stanley also upgraded the stock to overweight from equal-weight with a target price at Rs 1,349 per share as faster asset monetisation could surprise.

Cox & Kings | Down 14 percent

The board of directors of the company, at its meeting held on August 12, withdrew/cancelled the proposal of declaration of dividend of 20 percent (Rs 1) per share for the financial year 2018-19 declared by the board at its meeting held on May 30, 2019 due current financial condition of the company, company said in release on BSE.

As the company is in the process of submitting its draft resolution plan to the lenders and also working on various other monetisation initiatives to address its liquidity issues, the company is not in a position to finalise and consider the financial results on a standalone and consolidated basis along with limited review report of the company and its subsidiaries for the quarter that ended on June 30, 2019.

The company intends to extend the date of submission of the quarterly financial results for the quarter ended June 30 with the stock exchange. The revised date of the meeting to consider the said quarterly financial results shall be communicated at the earliest possible, as per the company's release.

In another release, company said that it is confident of implementing its resolution plan well within the stated period of 180 days based on its various asset monetisation. As per the RBI framework, the resolution plan has to be agreed to by 60 percent by numbers of lenders and 75 percent of the lenders by value of debt.

The company's lenders have signed the InterCreditor Agreement (ICA) with State Bank of India (S8I) as the lead banker. As on date, 70 percent of the lenders have signed the ICA, and the company is perusing with the balance lenders with respect to ICA signing.

Motherson Sumi Systems | Down 8 percent

The company's Q1FY20 consolidated net profit was down 25.2 percent at Rs 331.5 crore versus Rs 443.1 crore for the same period a year ago.

Revenue of the company was up 13.7 percent at Rs 16,792.5 crore, as against Rs 14,775.5 crore for the same period a year ago.

Earnings before interest, tax, depreciation and amortization (EBITDA) was down 11 percent at Rs 1,255 crore against Rs 1,412 crore for the same period a year ago, while margin was down 210 bps at 7.5 percent against 9.6 percent.

Godfrey Phillips India | Up 41 percent

The company reported strong Q1 numbers wherein its consolidated net profit rose 106.49 percent to Rs 118.63 crore on rise in total income to Rs 824.78 crore in Q1 June 2019 over Q1 June 2018.

Net sales stand at Rs 831.18 crore for June 2019, up 44.59 percent from Rs. 574.85 crore in June 2018

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Rakesh Patil
first published: Aug 17, 2019 01:23 pm

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