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Last Updated : Sep 20, 2020 10:35 AM IST | Source: Moneycontrol.com

Movers & Shakers: 10 stocks that moved the most in past week

Sensex closed flat while Nifty was up 0.35 percent. BSE Small-cap index surged more than 5 percent and BSE Midcap index closed with gains of 2.6 percent for the week ended September 18.

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It was a volatile week for the benchmark indices which closed mixed for the week ended September 18 but plenty of action was seen in the small & midcap space. Sensex closed flat while the Nifty was up 0.35 percent. BSE Small-cap index surged more than 5 percent and the S&P BSE Midcap index closed with gains of 2.6 percent for the week ended September 18. Here are 10 stocks that moved the most:

JB Chemicals | The stock surged 43 percent after the company reported consolidated net profit at Rs 119.5 crore up by 92.4 percent, as compared to Q1 FY20 when it had reported Rs 62.11 crore. The net profit margin in Q1 FY21 came in at 22.88 percent, up 8.96 percent YoY. Consolidated net revenue stood at Rs 522.28 crore, which was up 17.07 percent YoY from Rs 446.11 crore in Q1 FY20. Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in is of the view that a short-term top can be expected in this counter for the near term unless it closes above Rs 970 levels. For time being it looks prudent to exit this counter. Even in the near-term, traders are advised to avoid fresh buying.

JB Chemicals | The stock surged 43 percent after the company reported consolidated net profit at Rs 119.5 crore up by 92.4 percent, as compared to Q1 FY20 when it had reported Rs 62.11 crore. The net profit margin in Q1 FY21 came in at 22.88 percent, up 8.96 percent YoY. Consolidated net revenue stood at Rs 522.28 crore, which was up 17.07 percent YoY from Rs 446.11 crore in Q1 FY20. Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in is of the view that a short-term top can be expected in this counter for the near term unless it closes above Rs 970 levels. For time being it looks prudent to exit this counter. Even in the near-term, traders are advised to avoid fresh buying.

Dr Reddy's Labs | The share price gained over 21 percent after the company said it had settled patent litigation with US-based Bristol-Myers Squibb's unit, Celgene, over cancer treatment Revlimid. Global brokerage firm Credit Suisse has an 'outperform' rating on the stock and it raised the target price of the stock to Rs 5,750 from Rs 5,100. Domestic brokerage firm ICICI Direct has a 'buy' call on the stock with a target price of Rs 5,710. Brokerage firm Emkay Global has a 'hold' call on the stock with a target price of Rs 5,325.

Dr Reddy's Labs | The share price gained over 21 percent after the company said it had settled patent litigation with US-based Bristol-Myers Squibb's unit, Celgene, over cancer treatment Revlimid. Global brokerage firm Credit Suisse has an 'outperform' rating on the stock and it raised the target price of the stock to Rs 5,750 from Rs 5,100. Domestic brokerage firm ICICI Direct has a 'buy' call on the stock with a target price of Rs 5,710. Brokerage firm Emkay Global has a 'hold' call on the stock with a target price of Rs 5,325.

Syngene International | The stock added 19 percent after the company got ICMR's approval for HiMedia-Syngene COVID-19 antibody test kit. In an exchange filing the company said,

Syngene International | The stock added 19 percent after the company got ICMR's approval for HiMedia-Syngene COVID-19 antibody test kit. In an exchange filing the company said, "HiMedia Laboratories and Syngene International have collaborated to manufacture ELISafe 19TM, an IgG based ELISA test kit for COVID-19 now approved by the Indian Council of Medical Research (ICMR). The ELISafe 19TM antibody test kit has a sensitivity of 100 percent and specificity of 99 percent."

Adani Green | The share price was up 14 percent after the company reported a standalone net profit of Rs 138 crore for the June quarter of FY21, against Rs 5.52 crore in the year-ago period. Its standalone total income for Q1FY21 stood at Rs 253 crore against Rs 192 crore in Q1FY20. Media reports say that Adani Green Energy is looking to tie-up with some banks to avail greenfield funding for its under-construction assets. The company will raise $1.8 billion for the under-construction and contracted portfolio of 12 GW, which includes the country’s first manufacturing-linked solar power plant of 8 GW, Mint reported.

Adani Green | The share price was up 14 percent after the company reported a standalone net profit of Rs 138 crore for the June quarter of FY21, against Rs 5.52 crore in the year-ago period. Its standalone total income for Q1FY21 stood at Rs 253 crore against Rs 192 crore in Q1FY20. Media reports say that Adani Green Energy is looking to tie-up with some banks to avail greenfield funding for its under-construction assets. The company will raise $1.8 billion for the under-construction and contracted portfolio of 12 GW, which includes the country’s first manufacturing-linked solar power plant of 8 GW, Mint reported.

Apollo Hospitals | The stock gained over 13 percent after global research firm Morgan Stanley maintained its overweight call on the stock with the target of Rs 1,899 per share. The research firm is of the view that COVID-19 has paused its growth trajectory. However, volume recovery, cost rationalisation and asset monetisation should keep B/S healthy, according to a CNBC-TV18 report. Apollo Hospitals reported a consolidated net loss of Rs 226.24 crore for the quarter ended June 30, 2020, on account of the impact of COVID-19 pandemic.

Apollo Hospitals | The stock gained over 13 percent after global research firm Morgan Stanley maintained its overweight call on the stock with the target of Rs 1,899 per share. The research firm is of the view that COVID-19 has paused its growth trajectory. However, volume recovery, cost rationalisation and asset monetisation should keep B/S healthy, according to a CNBC-TV18 report. Apollo Hospitals reported a consolidated net loss of Rs 226.24 crore for the quarter ended June 30, 2020, on account of the impact of COVID-19 pandemic.

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Cadila Healthcare | The share price added 12 percent after media reports indicated that the company is in talks with Russian Direct Investment Fund (RDIF) and Zydus Cadila to bring coronavirus vaccine "Sputnik V" to India. RDIF and Dr Reddy’s Laboratories have joined hands in clinical trials and distribution of "Sputnik V" in India. The Indian drugmaker would also conduct Phase-3 clinical trials in the country for the vaccine, according to a Financial Express report. Also, in an exchange filing, Zydus Cadila said that it has received final approval from the USFDA to market Potassium Chloride ExtendedRelease Tablets (US RLD: K-Dur Extended-Release Tablets) in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg).

HCL Tech | The stock was up 12 percent last week. In a media release on September 16, HCL Technologies and Google Cloud announced the expansion of their strategic partnership to bring HCL’s Actian portfolio, starting with Actian Avalanche, to Google Cloud.

HCL Tech | The stock was up 12 percent last week. In a media release on September 16, HCL Technologies and Google Cloud announced the expansion of their strategic partnership to bring HCL’s Actian portfolio, starting with Actian Avalanche, to Google Cloud. "This latest announcement from HCL and Google Cloud expands a deep and growing partnership between the two companies to help organizations digitally transform," HCL said. Angel Broking has a buy rating on the stock with a revised target price of Rs 945. According to Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, Rs 780 should be the trend decider level for the bulls.

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Cipla | The share price gained 11 percent after the Irish pharma company Perrigo voluntarily recalled albuterol sulfate inhalation aerosols over concerns that some may not dispense properly due to clogging. This is expected to benefit Cipla and other pharma players too. "While Cipla launched gProventil in April, Lupin’s gProAir launch is expected this month. We build in $40 million and $60 million in sales in FY21 for Lupin & Cipla, respectively. If Perrigo’s relaunch is delayed, the opportunity for Lupin & Cipla will rise further," said Macquarie. The global brokerage added that there is a 4-6 percent upside risk to its FY21 EPS estimates for Lupin & Cipla.

Essel Propack | The stock shed 10 percent after reports made rounds that the world’s biggest alternative asset manager Blackstone is planning to sell its stake in the firm. Blackstone is looking to sell a large chunk of its shareholding in the packaging firm through block trades. The deal could fetch the investor as much as USD 251 million, Mint reported. Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75 percent of Essel Propack, is looking to sell up to 23 percent stake representing around 72.5 million shares of the company, according to deal terms.

Essel Propack | The stock shed 10 percent after reports made rounds that the world’s biggest alternative asset manager Blackstone is planning to sell its stake in the firm. Blackstone is looking to sell a large chunk of its shareholding in the packaging firm through block trades. The deal could fetch the investor as much as USD 251 million, Mint reported. Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75 percent of Essel Propack, is looking to sell up to 23 percent stake representing around 72.5 million shares of the company, according to deal terms.

Bank of India | The share price was down 9 percent last week. The bank received shareholders’ nod for raising up to Rs 8,000 crore through various modes, including issue of equity shares. Shareholders approved the fundraising plan at the extra-ordinary general meeting (EGM) held on Saturday (September 19, 2020), Bank of India said in a regulatory filing.

Bank of India | The share price was down 9 percent last week. The bank received shareholders’ nod for raising up to Rs 8,000 crore through various modes, including issue of equity shares. Shareholders approved the fundraising plan at the extra-ordinary general meeting (EGM) held on Saturday (September 19, 2020), Bank of India said in a regulatory filing.

First Published on Sep 20, 2020 10:35 am
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