Movers & Shakers | Top 10 stocks that moved the most last week TVS Motor Company, Man Infraconstruction, Indo Count Industries, Ajanta Pharma, PG Electroplast and IDBI Bank were among the 10 stocks that gained or lost the most in the week ended March 12. Traders should refrain from building new buying positions until further improvement is seen and the the Nifty breaks out above 15,250, experts have said.
March 14, 2021 / 10:16 AM IST
The market ended higher in a truncated week ended March 12 amid volatility, with the Nifty50 managing a close above 15,000, tracking positive global cues. During the week, the BSE Sensex jumped 386.76 points, or 0.7 percent, to close at 50,792.08 and the Nifty rose 92.85 points or 0.6 percent to finish at 15,030.95. The Sensex traded in the 51,821.84-50,318.26 range and the Nifty in the 15,336.3-14,919.9 range. On the sectoral front, the Nifty realty index fell 2.3 percent and the Nifty auto index slipped 1.3 percent. The Nifty IT index rose 2.6 percent. During the week, foreign institutional investors (FIIs) bought equities worth Rs 1127.82 crore and domestic institutional investors (DIIs) bought equities worth Rs 1,238.89 crore. "The market's short-term technical condition appears like a sideways correction is in the process. While it is subject to further price action evolution, it is prudent to wait for a decisive breakout above 15,300 and technical factors to improve before going long in the market," said Ashis Biswas, Head of Technical Research at CapitalVia Global Research. "Traders are advised to refrain from building a new buying position until further improvement is seen and a breakout above 15,250," he added. (Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.)
PG Electroplast | The share price rose 21 percent last week as the company entered into an agreement to acquire and purchase all leasehold interests and rights to an industrial land measuring 10 acres adjacent to the company's manufacturing facility at Supa Parner MIDC, Ahmednagar, Maharashtra at a tentative cost of Rs 9.5 crore. The industrial land acquired will be used to expand the existing facility into a 20-acre integrated manufacturing campus and will enable the company to significantly improve both its capabilities and capacities for manufacturing air conditioners and other appliances. The share touched a 52-week high of Rs 455 and a 52-week low of Rs 26.20 on March 12, 2021 and March 31, 2020, respectively. It is trading 1,636.64 percent above its 52-week low.
Aurionpro Solutions | The stock surged 62 percent in the week ended March 12. Aurionpro announced the signing of the strategic partnership with Future-Tech, UK, for data centre design and consultancy projects in India and South Asia. It has also signed up with one of the customers and is providing consultancy and assistance for rolling out of 100 MW data centres within the next few years. The share touched a 52-week high of Rs 132.65 and a 52-week low of Rs 27.05 on March 12, 2021 and March 17, 2020, respectively. It is trading 390.39 percent above its 52-week low.
IDBI Bank | The company's share price added over 15 percent during the week after the Reserve Bank of India (RBI) said the lender would be taken out of prompt corrective action (PCA) framework following improvement in its overall performance. The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis. The performance of the bank was reviewed by the board for financial supervision in its meeting on February 18, 2021 and it was noted that as per published results for the quarter ending December 31, 2020, the bank was not in breach of the PCA parameters on regulatory capital, net NPA and leverage ratio.
Quick Heal Technologies | The share price added 11 percent last week. The company's board at its meeting on March 10, 2021 approved the proposal to buyback up to 63,26,530 equity shares of the company, being 9.85 percent of the total paid-up equity share capital of the company for an aggregate amount not exceeding Rs 1,550 million at Rs 245 per equity share. The buyback is subject to the approval of the members by means of a special resolution through a postal ballot. The board has approved the constitution of the buyback committee. The share touched a 52-week high of Rs 216 and a 52-week low of Rs 62.45 on March 10, 2021 and March 19, 2020, respectively. It is trading 7.71 percent below its 52-week high and 219.22 percent above its 52-week low.
BEML | The share price jumped over 21 percent during the week. The company approved the appointment of M/s Deloitte Haskins & Sells LPP, as consultant for advising, undertaking and implementing demerger of non-core assets of the company. In a filing to exchanges, the company said the decision to this effect was taken at a board meeting held on March 5. BEML’s disinvestment process has been undertaken by the Government of India. The Centre in January 2021 invited expressions of interest for a stake sale in the defence equipment maker along with the transfer of management control. According to a press release issued by BMEL, the stake sale would be done through an open competitive bidding route. Interested bidders were to submit an expression of interest (EoI) by March 1 but the deadline has been extended to March 22.
Tata Power Company | The share price was up 5 percent in the week ended March 12. Elon Musk's Tesla Inc was exploring an arrangement with Tata Sons’ power generation unit, Tata Power, to set up charging infrastructure for electric vehicles in the country, CNBC-TV18 reported on March 12. Tesla would set up an electric-car manufacturing unit in the southern Indian state of Karnataka, Reuters news agency has said. The talks between Tata Power and Tesla are in initial stages and no arrangements have been finalised yet, the report said.
Ajanta Pharma | The share price rose over 4 percent in the week ended March 12. The company received US FDA nod for diabetes drug Metformin Hydrochloride, reported CNBC-TV18. The share touched a 52-week high of Rs 1,879.45 and a 52-week low of Rs 961.65 on February 3, 2021 and March 25, 2020, respectively. It is trading 2.55 percent below its 52-week high and 90.45 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 70.42 per share. (December 2020). The stock's price-to-earnings (P/E) ratio was 26.01. The latest book value of the company is Rs 284.36 per share. At current value, the price-to-book value of the company was 6.44. The dividend yield was 0.71 percent.
Man Infraconstruction | The share price rose 9 percent last week. The company through its JV entity Man Chandak Realty LLP is launching a real estate development project having a total saleable area of approximately 350,000 sq ft at Vile Parle West in Mumbai under the 'development management model'. The project would be developed in two phases and Phase I has been christended as Insignia. Also, Man Vastucon LLP, a wholly-owned subsidiary of Man Infraconstruction, received a Rs 84.32-crore order from Mira Shaindar Municipal Corporation for construction and finishing an auditorium off the Western Express Highway, Mira Road East, Thane. The share touched a 52-week high of Rs 46.70 and a 52-week low of Rs 14.50 on March 12, 2021 and March 24, 2020, respectively. It is trading 3.32 percent below its 52-week high and 211.38 percent above its 52-week low.
TVS Motor Company | The share price declined 5 percent in the week ended March 12. The company introduced the 2021 TVS Apache RTR 160 4V motorcycle during the week. TVS Apache RTR 160 4V motorcycle has an advanced engine 159.7 cc, single-cylinder, 4-valve, oil-cooled engine, that now churns out 17.63 PS at 9250 RPM and 14.73 Nm torque at 7250 RPM. The share touched a 52-week high of Rs 659.80 and a 52-week low of Rs 240.10 on February 9, 2021 and April 7, 2020, respectively. It is trading 11.4 percent below its 52-week high and 143.48 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 8.35 per share (December 2020). The stock's price-to-earnings (P/E) ratio was 70.01. The latest book value of the company is Rs 76.16 per share. At current value, the price-to-book value of the company is 7.68. The dividend yield was 0.6 percent Indo Count Industries | The share price declined over 10 percent. Rating Agency ICRA upgraded the credit rating for the company's short-term bank facilities and reaffirmed credit rating for the long-term facilities. For the short-term bank facilities, the rating was revised from ICRA A1 to ICRA A1+. For long-term bank facilities, the rating was reaffirmed at ICRA A+, with the outlook revised to positive from stable. The share touched a 52-week high of Rs 171.75 and a 52-week low of Rs 21.85 on December 8, 2020, and March 25, 2020, respectively. It is trading 27.37 percent below its 52-week high and 470.94 percent above its 52-week low.