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Last Updated : Sep 07, 2019 10:56 AM IST | Source: Moneycontrol.com

Top 10 stocks that rose or fell in the week

The S&P BSE Midcap index was down 0.76 percent and S&P BSE Largecap Index shed 0.78 percent, while Smallcap Index was up 0.48 percent last week.

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Todays L/H

The market remained volatile in the truncated week ended September 6 on the back of poor GDP data, muted auto sales and bank merger news.

Last week, the Sensex shed 351.02 points to end at 36,981.77 while Nifty was down 77.05 points at 10,946.2.

Last week, the government announced its plans to further consolidate the PSU banking space. In addition, a set of measures to improve governance practices and additional details on fund infusion in PSBs were announced.


The S&P BSE Midcap index was down 0.76 percent and S&P BSE Largecap Index shed 0.78 percent, while Smallcap Index was up 0.48 percent last week.

Among sectors, Nifty Realty index underperformed the sectoral indices with a loss of 4.8 percent during the week, followed by Nifty PSU Bank index (down 3.7 percent) and Nifty FMCG index (down 2 percent), on the other hand Nifty Metal index gained 3 percent.

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

Coffee Day Enterprises | Down 18 percent

Shares of Coffee Day Enterprises remained under pressure last week after a report that the company's promoters were holding their plan to sale their stake in Cafe Coffee Day (CCD).

According to a Mint report, promoters of the company and its lenders have temporarily shelved a plan to sell the controlling stake in the unit that owns the Cafe Coffee Day (CCD) chain, two people directly aware of the development said.

The market capitalisation fell from around Rs 7,000 crore from the peak levels to Rs 1,287.58 crore.

DLF | Down 8 percent

The share price declined more than 8 percent last week on the back of some social media report which had made certain unfounded allegations in respect of the relationship between DLF group and Indiabulls group, more specifically Indiabulls Housing Finance Limited (IBHFL).

However, the company clarified that - as on date - the company does not owed any amount by any DLF group company to IBHFL or any other Indiabulls company.

Also, DLF Group has no exposure or investment in the Indiabulls group or any of the ventures of its promoters and allegations are completely baseless and unfounded, it added.

Elecon Engineering Company | Up 12 percent

The Arbitral Tribunal has passed the awards in favour of the company aggregating to Rs 37.57 crore plus interest from the date of award till their realization, as per a company release.

The tribunal further directed BGR Energy Systems to return the bank guarantees as submitted by the company.

The company initiated arbitration proceedings before the Arbitral Tribunal at Chennai against BGR Energy Systems for the recovery of various dues to the company.

Vascon Engineers | Up 13 percent

The company has received tender from Maharashtra State Police Housing & Welfare Corporation (A Government of Maharashtra undertaking) for the construction of staff quarters along with a multipurpose hall in Mumbai amounting to Rs 465 crore, as per a BSE release.

The work has been awarded on a lump sum basis.

The work has to be completed within 36 months from the date of receipt of the tender.

With this, the company's order intake in the current financial year is Rs 740 crore and the total external order book, as on date, is around Rs 1,400 crore.

Gujarat Alkalies and Chemicals | Up 8 percent

A meeting of the board of directors will be held on September 27 to consider the proposal for split/sub-division of equity shares of face value Rs 10 each.

The board will also consider the proposal for amendment to the capital clause of the memorandum of association and the articles of association of the company.

Reliance Naval | Down 17 percent

The share remained under pressure after its subsidiary company admitted for a corporate insolvency resolution process.

RMOL Engineering and Offshore, a wholly-owned non-material subsidiary of the company has been admitted for corporate insolvency resolution process with NCLT, Ahmedabad Bench, for a claim of Rs 159.62 crore, filed by IFCI, as per a company release on BSE.

Cox & Kings | Down 18 percent

The company on September 4 clarified that, to meet the company's financial obligations through a combination of internal accruals and monetization of assets, it was in the process of evaluating the potential of every business to generate cash flows.

The company has appointed merchant bankers for a possible sale of its European hotel chain Meininger.

The company denied to share any additional details at this stage due to confidentiality agreements and would make an announcement and inform the stock exchanges once the process concludes.

Oriental Bank of Commerce down 11 percent And Canara Bank | down 13 percent

India Ratings has placed the long-term issuer rating of the bank on Rating Watch Evolving (RWE), following the Ministry of Finance's announcement regarding the proposed amalgamation of Oriental Bank of Commerce and United Bank of India with Punjab National Bank.

Finance Minister Nirmala Sitharaman announced a mega-merger in the public sector banking space on August 30, amalgamating 10 banks into 4, which would bring down the total number of public sector banks to 12 from 27.

On the other hand, Canara Bank and Syndicate Bank are set to merge.

The brokerage thinks the announcement could be the finale of PSU bank mergers and, with fewer PSU banks, it could be easier to find quality leaders.

Morgan Stanley believes PSB consolidation is a good long-term move but could weigh on near-term growth.

Prabhat Dairy | Up 29 percent

The company is mulling delisting from exchanges on September 10. The promoters will look to buy back 49.9 percent stake from the public shareholders as they already hold 50.1 percent stake in the company.

The board of directors of Prabhat Diary accepted the resignation of Raviraj Vahadane, the CFO of the company, with effect from August 26.
First Published on Sep 7, 2019 10:56 am