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Last Updated : Jul 05, 2020 09:27 AM IST | Source: Moneycontrol.com

In Pics | Movers & Shakers: 10 stocks that moved the most last week

In the week that ended on July 3, the Sensex added 850.15 points or 2.36 percent and the Nifty gained 224.35 points or 2.12 percent.

The Nifty50 rallied for the third consecutive day in a row on July 3. Supported by positive global cues and on weekly basis, the index recorded gains of more than 2 percent, buoyed by hopes of a vaccine for COVID-19 and recovery in economic activity. For the week, the Sensex added 850.15 points or 2.36 percent and the Nifty gained 224.35 points or 2.12 percent.

The Nifty50 rallied for the third consecutive day in a row on July 3. Supported by positive global cues and on weekly basis, the index recorded gains of more than 2 percent, buoyed by hopes of a vaccine for COVID-19 and recovery in economic activity. For the week, the Sensex added 850.15 points or 2.36 percent and the Nifty gained 224.35 points or 2.12 percent.

Bharat Dynamics | The stock jumped over 28 percent as India, on July 2, approved purchase of 33 Russian fighter jets and upgrades to 59 war planes at a cost of Rs 18,148 crore amid rising border tensions with China. The company reported surge in net profit in its March quarter numbers. It reported a 149.51 percent surge in net profit to Rs 309.72 crore in Q4 FY20 over Q4 FY19.

Bharat Dynamics | The stock jumped over 28 percent as India, on July 2, approved purchase of 33 Russian fighter jets and upgrades to 59 war planes at a cost of Rs 18,148 crore amid rising border tensions with China. The company reported surge in net profit in its March quarter numbers. It reported a 149.51 percent surge in net profit to Rs 309.72 crore in Q4 FY20 over Q4 FY19.

IDBI Bank | Share price surged over 27 percent as the bank entered the Rs 50,000 crore-market capitalisation. IDBI Bank said on June 27 that its board has approved a plan to offload 27 percent stake in IDBI Federal Life Insurance at a combined value of Rs 595 crore. IDBI Bank has 48 percent stake in IDBI Federal Life Insurance, which started operations in 2008. Federal Bank and its Dutch partner Ageas Insurance International NV have 26 percent stake each.

IDBI Bank | Share price surged over 27 percent as the bank entered the Rs 50,000 crore-market capitalisation. IDBI Bank said on June 27 that its board has approved a plan to offload 27 percent stake in IDBI Federal Life Insurance at a combined value of Rs 595 crore. IDBI Bank has 48 percent stake in IDBI Federal Life Insurance, which started operations in 2008. Federal Bank and its Dutch partner Ageas Insurance International NV have 26 percent stake each.

Suzlon Energy | The stock gained 24 percent after the company said it has successfully completed its debt restructuring process. In a regulatory filing, the company said the debt restructuring process has been completed with unanimous approval of secured lenders. The company said the term debt is reduced substantially with interest of 9 percent per annum repayable over 10 years starting July 1, 2020. The balance debt of secured consortium lenders has been replaced by 0.01 percent Optionally Convertible Debenture (OCD) of the company and 0.0001 percent Compulsorily Convertible Preference Shares (CCPS) of its subsidiary, redeemable or convertible in 20 years.

Suzlon Energy | The stock gained 24 percent after the company said it has successfully completed its debt restructuring process. In a regulatory filing, the company said the debt restructuring process has been completed with unanimous approval of secured lenders. The company said the term debt is reduced substantially with interest of 9 percent per annum repayable over 10 years starting July 1, 2020. The balance debt of secured consortium lenders has been replaced by 0.01 percent Optionally Convertible Debenture (OCD) of the company and 0.0001 percent Compulsorily Convertible Preference Shares (CCPS) of its subsidiary, redeemable or convertible in 20 years.

HUDCO | The share price was up almost 22 percent after the company reported stellar performance in Q4. HUDCO, on June 26, reported a whopping 86.6 percent year-on-year growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020, driven by operating as well as revenue performance. Consolidated revenue from operations in Q4FY20 grew by 28.1 percent to Rs 1,888.5 crore compared to a year ago.

HUDCO | The share price was up almost 22 percent after the company reported stellar performance in Q4. HUDCO, on June 26, reported a whopping 86.6 percent year-on-year growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020, driven by operating as well as revenue performance. Consolidated revenue from operations in Q4FY20 grew by 28.1 percent to Rs 1,888.5 crore compared to a year ago.

Sterling & Wilson | The stock gained 11 percent after the company's United States-based subsidiary bagged the largest solar project in the country. Sterling and Wilson Solar Solutions Inc said it has been awarded a $99 million (Rs 747 crore) contract to construct a 194 MW project in the United States. It is being developed by a leading sustainable energy company, it said in a filing to the exchanges.

Sterling & Wilson | The stock gained 11 percent after the company's United States-based subsidiary bagged the largest solar project in the country. Sterling and Wilson Solar Solutions Inc said it has been awarded a $99 million (Rs 747 crore) contract to construct a 194 MW project in the United States. It is being developed by a leading sustainable energy company, it said in a filing to the exchanges.

Tata Power | The share price was up over 7 percent after the company board approved a proposal to raise Rs 2,600 crore through issuance of preference shares to its promoter Tata Sons. "The board of directors of the company approved issuance of equity shares through a preferential issue to the promoter, Tata Sons, at a price of Rs 53 per equity share for an aggregate sum of Rs 2,600 crore, subject to shareholder approvals," a regulatory filing said.

Tata Power | The share price was up over 7 percent after the company board approved a proposal to raise Rs 2,600 crore through issuance of preference shares to its promoter Tata Sons. "The board of directors of the company approved issuance of equity shares through a preferential issue to the promoter, Tata Sons, at a price of Rs 53 per equity share for an aggregate sum of Rs 2,600 crore, subject to shareholder approvals," a regulatory filing said.

Ashok Leyland | The stock was down over 6 percent after the company reported a 81 percent decline in total vehicle sales at 2,394 units in June. The company had sold 12,810 units in the same month last year, Ashok Leyland said in a regulatory filing. Total domestic vehicle sales stood at 2,132 units in June as against 12,085 units in the year-ago period, registering a decline of 82 percent. Medium and heavy commercial vehicle (M&HCV) sales in domestic market were down 93 percent at 572 units last month as compared with 7,780 units in the year-ago month, it added.

Ashok Leyland | The stock was down over 6 percent after the company reported a 81 percent decline in total vehicle sales at 2,394 units in June. The company had sold 12,810 units in the same month last year, Ashok Leyland said in a regulatory filing. Total domestic vehicle sales stood at 2,132 units in June as against 12,085 units in the year-ago period, registering a decline of 82 percent. Medium and heavy commercial vehicle (M&HCV) sales in domestic market were down 93 percent at 572 units last month as compared with 7,780 units in the year-ago month, it added.

Divis Labs | The stock was down almost 7 percent after the Securities and Exchange Board of India (Sebi) imposed over Rs 96 lakh penalty on the chief financial officer of Divi's Laboratories, L Kishore Babu, and his close associates, including his son, for indulging in insider trading in 2017. The market regulator said Divi's had made an announcement on July 10, 2017, during market hours that the USFDA would lift import alert 99-32 on the company's unit-II at Visakhapatnam, and Babu knew about the development before it was made public.

Divis Labs | The stock was down almost 7 percent after the Securities and Exchange Board of India (Sebi) imposed over Rs 96 lakh penalty on the chief financial officer of Divi's Laboratories, L Kishore Babu, and his close associates, including his son, for indulging in insider trading in 2017. The market regulator said Divi's had made an announcement on July 10, 2017, during market hours that the USFDA would lift import alert 99-32 on the company's unit-II at Visakhapatnam, and Babu knew about the development before it was made public.

Power Finance Corporation | The share shed 6 percent as the company reported about 80 percent decline in consolidated net profit at Rs 693.71 crore for the quarter ended March 2020, mainly due to transaction exchange loss. It had posted a consolidated net profit of Rs 3,391.27 crore in the quarter ended March 31, 2019, a regulatory filing said. Total income during the quarter under review rose to Rs 16,254.65 crore from Rs 14,387.92 crore in the year-ago quarter.

Power Finance Corporation | The share shed 6 percent as the company reported about 80 percent decline in consolidated net profit at Rs 693.71 crore for the quarter ended March 2020, mainly due to transaction exchange loss. It had posted a consolidated net profit of Rs 3,391.27 crore in the quarter ended March 31, 2019, a regulatory filing said. Total income during the quarter under review rose to Rs 16,254.65 crore from Rs 14,387.92 crore in the year-ago quarter.

Vodafone Idea | The stock was down 4 percent after the company reported consolidated loss at Rs 11,643.5 crore in the quarter ended March 2020 versus a loss of Rs 6,438.8 crore in December 2019. The subscriber base declined to 291 million in Q4 FY20 from 304 million in Q3 FY20. The company is planning to monetise its 11.15 percent stake in Indus Towers on completion of its merger with Bharti Infratel. Vodafone Idea also said its ability to continue as going concern was dependent on a positive outcome in the adjusted gross revenue (AGR) case.

Vodafone Idea | The stock was down 4 percent after the company reported consolidated loss at Rs 11,643.5 crore in the quarter ended March 2020 versus a loss of Rs 6,438.8 crore in December 2019. The subscriber base declined to 291 million in Q4 FY20 from 304 million in Q3 FY20. The company is planning to monetise its 11.15 percent stake in Indus Towers on completion of its merger with Bharti Infratel. Vodafone Idea also said its ability to continue as going concern was dependent on a positive outcome in the adjusted gross revenue (AGR) case.

First Published on Jul 5, 2020 09:27 am
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