On the BSE Sensex, TCS added the most in terms of market value, followed by HDFC, HDFC Bank. On the sectoral front, Nifty Metal outperformed other indices with a gain of 13 percent followed by Nifty IT Index and Nifty Bank Index. On the other hand, Nifty Pharma index fell 2 percent.
Here are the top 10 stocks which moved the most this week:
Motherson Sumi Systems | Share price jumped 19 percent after the company informed that more than half of its production facilities around the world have resumed operations. Morgan Stanley has maintained its overweight call on the stock.
Tata Motors | Share price jumped 23 percent after a Mint report said that Jaguar Land Rover (JLR) has restored three-fourth of its budgeted production in China. "In China, we are beginning to see a recovery in vehicle sales and customers are returning to our showrooms," JLR said in a press release dated April 23.
UPL | Share price was up 20 percent after the company said it has completed the acquisition of Yoloo (Laoting) Bio-technology, a China-based agrochemical maker. It had announced the acquisition of 100 percent in Yoloo Biotech from Beijing Yoloo Bio-technology Corporation in November last year in an all-cash deal worth around Rs 95 crore.
Mindtree | Share price gained 19 percent after the company posted a 4.6 percent jump in its Q4 net profit at Rs 206 crore against Rs 197 crore in the quarter ended December 2019. The board recommended a final dividend of 100 percent (Rs 10 per equity share of face value of Rs 10 each) for the financial year ended March 31, 2020.
Indiabulls Housing Finance | Share price was up 11 percent after the Delhi High Court on April 29 stayed the interim relief granted to Indiabulls Housing Finance with respect to repayment of its dues to non-convertible debenture (NCD) holders, CNBC-TV18 has reported.
Shriram Transport Finance | Share price jumped 12 percent after the company said it is planning to raise funds through various borrowings options. Its Board had approved issuing redeemable non-convertible as well.
Future Retail | Share price was down 13 percent after S&P Global Ratings lowered its preliminary long-term issuer credit rating and the preliminary long-term issue rating on the company’s $500 million senior secured notes to ‘CCC-’ from ‘B-’.
Ujjivan Small Finance Bank | Share price shed over 3 percent after after CNBC-TV18 reported global brokerage house UBS Securities downgraded the stock and also cut price target amid COVID-19 crisis.
Bharti Infratel | Share price was up 7 percent after the company reported a 7 percent YoY rise in its net profit at Rs 650 crore for the quarter ended March 31. Consolidated EBITDA came at Rs 1,721 crore, up 12 percent YoY, and representing an operating margin of 47.5 percent.
Tata Steel | Share price was up over 5 percent after the company said it has raised Rs 1,000 crore through allotment of non-convertible debentures (NCDs) on private placement basis. An amount of Rs 500 crore was raised in each series.
First Published on May 2, 2020 11:23 am