Moneycontrol
Last Updated : Jun 06, 2020 11:14 AM IST | Source: Moneycontrol.com

In Pics | Movers & Shakers: 10 stocks which moved the most this week

For the week, the Sensex was up 5.7 percent while the Nifty closed with gains of 5.8 percent.

Positive global cues saw the bulls push the benchmark indices above crucial resistance levels on June 5, with the S&P BSE Sensex reclaiming 34,000 and the Nifty50 going past the crucial 10,100 level. For the week, the Sensex was up 5.7 percent while the Nifty closed with gains of 5.8 percent. Here are the top 10 stocks which moved the most this week
1/11

Vodafone Idea | Share price surged 60 percent this week after telecom Infrastructure company Bharti Infratel said its board will meet on June 11 to take final decision on the merger with Indus Towers. The company said there can be no certainty on whether the merger will get completed or not, as each party had retained the right to terminate and withdraw the scheme at any point. Bharti Infratel holds 42 percent stake in the mobile tower firm Indus Towers, which is a three-way joint venture with British telecom giant Vodafone and Vodafone Idea having 42 percent and 11.15 percent stake, respectively.

 Vodafone Idea | Share price surged 60 percent this week after telecom Infrastructure company Bharti Infratel said its board will meet on June 11 to take final decision on the merger with Indus Towers. The company said there can be no certainty on whether the merger will get completed or not, as each party had retained the right to terminate and withdraw the scheme at any point. Bharti Infratel holds 42 percent stake in the mobile tower firm Indus Towers, which is a three-way joint venture with British telecom giant Vodafone and Vodafone Idea having 42 percent and 11.15 percent stake, respectively.
2/11

Tata Motors | Stock price jumped 27 percent for the week. The company resumed operations at all its plant. The company in a statement said that it has resumed operations in all plants along with the Jamshedpur Plant also getting approval on May 27, 2020. The demand is gradually starting to improve, while from the supply side, 90% of suppliers in CV have received permissions to commence, 80% have started operations and only around 60% have been able to start supplies.

Tata Motors | Stock price jumped 27 percent for the week. The company resumed operations at all its plant. The company in a statement said that it has resumed operations in all plants along with the Jamshedpur Plant also getting approval on May 27, 2020. The demand is gradually starting to improve, while from the supply side, 90% of suppliers in CV have received permissions to commence, 80% have started operations and only around 60% have been able to start supplies
3/11

IDBI Bank | The share price zoomed over 89 percent after posted a net profit of Rs 135 crore for Q4FY20 after 13 straight quarters of net losses. The bank had posted a net loss of Rs 4,918 crore in the corresponding period last year. Saddled with high NPAs, IDBI Bank was rescued by the Life Insurance Corporation of India (LIC) last year. The bank has now turned the corner and hopes to be out of Reserve Bank of India's Prompt Corrective Action (PCA) framework soon, said Suresh Khatanhar, Deputy Managing Director of IDBI Bank, in an exclusive interview with Moneycontrol.

IDBI Bank | The share price zoomed over 89 percent after posted a net profit of Rs 135 crore for Q4FY20 after 13 straight quarters of net losses. The bank had posted a net loss of Rs 4,918 crore in the corresponding period last year. Saddled with high NPAs, IDBI Bank was rescued by the Life Insurance Corporation of India (LIC) last year. The bank has now turned the corner and hopes to be out of Reserve Bank of India's Prompt Corrective Action (PCA) framework soon, said Suresh Khatanhar, Deputy Managing Director of IDBI Bank, in an exclusive interview with Moneycontrol
4/11

Interglobe Aviation | The stock price jumped 23 percent after global research firms Morgan Stanley and Credit Suisse has an outperform rating on the stock. According to Morgan Stanley, the passenger traffic will be slow to recover. The cost structure and competitive position will improve in the downturn, reported CNBC-TV18. Credit Suisse said the results beat its estimates on stronger-than-expected yields and revise FY21/22 earnings lower by 56/33% on a slower ramp up. The company has posted a net loss at Rs 870.8 crore for the quarter ended March 2020, partly affected by the shutdown of operations due to the coronavirus-led lockdown. The company had a profit of Rs 595.8 crore in the same period last year. Revenue from operations during the quarter grew 5.3 percent year-on-year (YoY) to Rs 8,299.1 crore.

Interglobe Aviation | The stock price jumped 23 percent after global research firms Morgan Stanley and Credit Suisse has an outperform rating on the stock. According to Morgan Stanley, the passenger traffic will be slow to recover. The cost structure and competitive position will improve in the downturn, reported CNBC-TV18. Credit Suisse said the results beat its estimates on stronger-than-expected yields and revise FY21/22 earnings lower by 56/33% on a slower ramp up. The company has posted a net loss at Rs 870.8 crore for the quarter ended March 2020, partly affected by the shutdown of operations due to the coronavirus-led lockdown. The company had a profit of Rs 595.8 crore in the same period last year. Revenue from operations during the quarter grew 5.3 percent year-on-year (YoY) to Rs 8,299.1 crore
5/11

Hexaware Tech | Stock price jumped 22 percent after the company proposed to voluntarily de list the equity shares of the company. As on March 31, 2020, the public shareholders held 112,065,731 equity shares representing 37.6 percent of the paid-up equity share capital of the company. HT Global IT Solutions Holdings presently holds 186,318,590 equity shares of the company of a face value of Rs 2 each representing 62.4 percent of the paid-up equity share capital of the company as on March 31, 2020, according to a BSE data.

Hexaware Tech | Stock price jumped 22 percent after the company proposed to voluntarily de list the equity shares of the company. As on March 31, 2020, the public shareholders held 112,065,731 equity shares representing 37.6 percent of the paid-up equity share capital of the company. HT Global IT Solutions Holdings presently holds 186,318,590 equity shares of the company of a face value of Rs 2 each representing 62.4 percent of the paid-up equity share capital of the company as on March 31, 2020, according to a BSE data
6/11

Tata Power Company | Share price gained 20 percent after the company is preparing to join a growing club of Indian companies looking to raise additional capital through a rights issue, people with direct knowledge of the matter told Moneycontrol. The new fundraising plan would be in addition to an ongoing process to establish an infrastructure investment trust, or InvIT, for the firm’s renewable energy assets, they said. Tata Power will launch a rights issue of substantial size because of the size of debt. “It should definitely be upwards of Rs 2,000 crore and the final approved amount could be much higher,” sources said.

Tata Power Company | Share price gained 20 percent after the company is preparing to join a growing club of Indian companies looking to raise additional capital through a rights issue, people with direct knowledge of the matter told Moneycontrol. The new fundraising plan would be in addition to an ongoing process to establish an infrastructure investment trust, or InvIT, for the firm’s renewable energy assets, they said. Tata Power will launch a rights issue of substantial size because of the size of debt. “It should definitely be upwards of Rs 2,000 crore and the final approved amount could be much higher,” sources said
7/11

State Bank of India | The stock price was up 17 percent for the week. The PSU major declared its Q4 earnings wherein it reported a standalone profit of Rs 3,580.81 crore in January-March quarter, a growth of over four-fold YoY supported by lower provisions and stake sale. But it was much lower than analysts estimates due to moderate growth in other income (non-interest income) and fall in PPoP. Net profit included Rs 2,731.34 crore on sale of certain portion of investment in subsidiary SBI Cards and Payment Services during the quarter, the bank said. Net interest income declined 0.8 percent year-on-year to Rs 22,766 crore in the quarter ended March 2020 due to moderate loan growth at 6.4 percent YoY. Domestic net interest margin dipped to 2.94 percent in Q4FY20, down 8 bps YoY and 65 bps QoQ.

 State Bank of India | The stock price was up 17 percent for the week. The PSU major declared its Q4 earnings wherein it reported a standalone profit of Rs 3,580.81 crore in January-March quarter, a growth of over four-fold YoY supported by lower provisions and stake sale. But it was much lower than analysts estimates due to moderate growth in other income (non-interest income) and fall in PPoP. Net profit included Rs 2,731.34 crore on sale of certain portion of investment in subsidiary SBI Cards and Payment Services during the quarter, the bank said. Net interest income declined 0.8 percent year-on-year to Rs 22,766 crore in the quarter ended March 2020 due to moderate loan growth at 6.4 percent YoY. Domestic net interest margin dipped to 2.94 percent in Q4FY20, down 8 bps YoY and 65 bps QoQ.
8/11

Voltas | Stock price was up 20 percent after Voltas has reported a 13.6 percent year-on-year growth in Q4FY20 profit at Rs 158.66 crore and 1.3 percent growth in revenue from operations at Rs 2,089.63 crore compared to the same period last year. At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 33 percent to Rs 190 crore driven by favourable sales mix. EBITDA margin expanded 220 basis points YoY to 9.2 percent. Jefferies raised its price target on the stock to Rs 625 from Rs 615 per share as it believes a strong balance sheet and management will lead to strong valuations.

 Voltas | Stock price was up 20 percent after Voltas has reported a 13.6 percent year-on-year growth in Q4FY20 profit at Rs 158.66 crore and 1.3 percent growth in revenue from operations at Rs 2,089.63 crore compared to the same period last year. At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 33 percent to Rs 190 crore driven by favourable sales mix. EBITDA margin expanded 220 basis points YoY to 9.2 percent. Jefferies raised its price target on the stock to Rs 625 from Rs 615 per share as it believes a strong balance sheet and management will lead to strong valuations.
9/11

Tata Steel | Share price was up 15 percent after the company approved raising Rs 400 crore through a debt issue. In a filing to the BSE, the company said the committee approved allotment of 4,000 non-convertible debentures having face value of Rs 10 lakh each on private placement basis to identified investors. The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE.

 Tata Steel | Share price was up 15 percent after the company approved raising Rs 400 crore through a debt issue. In a filing to the BSE, the company said the committee approved allotment of 4,000 non-convertible debentures having face value of Rs 10 lakh each on private placement basis to identified investors. The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE.[/
10/11

Polycab India | The share price was up 13 percent for the week. The company posted a 53 percent year-on-year (YoY) growth in its March quarter (Q4) net profit at Rs 215.1 crore. In an interaction with Moneycontrol, Gandharv Tongia, Chief Financial Officer of Polycab said better margins and lower taxes aided the net profit increase. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin was at 12.8 percent in FY20, nearly 87 basis points (bps) higher than FY19.

 Polycab India | The share price was up 13 percent for the week. The company posted a 53 percent year-on-year (YoY) growth in its March quarter (Q4) net profit at Rs 215.1 crore. In an interaction with Moneycontrol, Gandharv Tongia, Chief Financial Officer of Polycab said better margins and lower taxes aided the net profit increase. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin was at 12.8 percent in FY20, nearly 87 basis points (bps) higher than FY19.
11/11

Polycab India | The share price was up 13 percent for the week. The company posted a 53 percent year-on-year (YoY) growth in its March quarter (Q4) net profit at Rs 215.1 crore. In an interaction with Moneycontrol, Gandharv Tongia, Chief Financial Officer of Polycab said better margins and lower taxes aided the net profit increase. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin was at 12.8 percent in FY20, nearly 87 basis points (bps) higher than FY19.

First Published on Jun 6, 2020 11:14 am
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