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Last Updated : Jul 19, 2020 07:24 AM IST | Source: Moneycontrol.com

In pics | Movers & Shakers: Top 10 stocks that moved the most this week

Infosys, Cipla and Avenue Supermarts among 10 stocks that were in action this week

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The market gained for the fifth consecutive week as the Sensex and the Nifty rose 1.2 percent each for the week. The Nifty Bank, however, snapped the four-week gaining streak, slipping 1.9 percent this week.

WIPRO

Wipro | The stock jumped over 17 percent after the company declared its Q1 numbers. The company's June quarter consolidated profit grew by 2.8 percent sequentially to Rs 2,390.4 crore, supported by other income (up 10 percent QoQ) and good operating performance. The earnings before interest and tax (EBIT) grew by 3.3 percent to Rs 2,782.2 crore and margin rose 146 bps QoQ to 19.06 percent during the April-June period. Credit Suisse has upgraded to stock to buy and has raised the target to Rs 260 per share.

Infosys

Infosys | The share jumped 15 percent after the IT services company declared its June quarter numbers (Q1 FY21). The company on July 15 reported a 2 percent decline in the June quarter profit at Rs 4,233 crore on strong operating performance. The company surprised the street by giving full-year constant currency revenue growth guidance. Revenue from operations increased 1.7 percent sequentially to Rs 23,665 crore in the June quarter and dollar revenue fell 2.4 percent quarter-on-quarter to $3,121 million for the quarter.

Granules India | The stock jumped 12 percent hitting new high after the company declared its Q1 results. The company reported a 34 percent jump in consolidated net profit at Rs 111.4 crore against Rs 83.2 crore YoY. Its consolidated revenue went up 23.6 percent at Rs 735.6 crore against Rs 595.3 crore YoY, CNBC-TV18 reported. Granules reported consolidated EBITDA which was up 54.8 percent at Rs 183.6 crore against Rs 118.6 crore YoY. Consolidated EBITDA margin stood at 25 percent against 19.9 percent YoY.

Granules India | The stock jumped 12 percent hitting new high after the company declared its Q1 results. The company reported a 34 percent jump in consolidated net profit at Rs 111.4 crore against Rs 83.2 crore YoY. Its consolidated revenue went up 23.6 percent at Rs 735.6 crore against Rs 595.3 crore YoY, CNBC-TV18 reported. Granules reported consolidated EBITDA which was up 54.8 percent at Rs 183.6 crore against Rs 118.6 crore YoY. Consolidated EBITDA margin stood at 25 percent against 19.9 percent YoY.

Representative Image (Credit: Shutterstock)

Cadila Healthcare | The stock gained over 5 percent after the company received approval from COFEPRIS to conduct clinical trials in Mexico with Pegylated Interferon alpha-2b to treat novel Coronavirus. Pankaj Patel, Chairman of Zydus Cadila on July 17 said he expects the potential COVID-19 vaccine developed by the company to be ready for launch early next year. The company began human trials earlier this week. "We are expecting the phase-1 and phase-2 studies to be completed in 3 months," Patel said in an interview with Moneycontrol.

Muthoot Finance | The share price was up 11 percent ahead of its Board meeting wherein it will consider the proposal for stock split. In a regulatory filing, the company said its a meeting of the board is scheduled to be held on July 18, to consider and approve the proposal for sub-division/stock split of equity shares of the company, subject to shareholders approval. The board will seek approval of shareholders for increasing the borrowing powers of the company from existing Rs 50,000 crore to Rs 75,000 crore, the filing added.

Muthoot Finance | The share price was up 11 percent ahead of its Board meeting wherein it will consider the proposal for stock split. In a regulatory filing, the company said its a meeting of the board is scheduled to be held on July 18, to consider and approve the proposal for sub-division/stock split of equity shares of the company, subject to shareholders approval. The board will seek approval of shareholders for increasing the borrowing powers of the company from existing Rs 50,000 crore to Rs 75,000 crore, the filing added.

Cipla12802

Cipla | The stock gained almost 8 percent after the company received final approval from the United States Food and Drug Administration (USFDA) for Icatibant Injectable, indicated for the treatment of acute attacks of hereditary angioedema - a rare genetic condition - in adults. Cipla's Icatibant injectable pre-filled syringe in the strength of 30mg/3mL is a generic version of Shire's Firazyr, the company said in a regulatory filing. The company has launched its generic version of antiviral drug remdesivir at a price which is among the lowest globally and is looking to supply over 80,000 vials within the first month. The company, however, did not disclose the price of the medicine.

L&T Infotech | The shares were up 7 percent after the company reported a 17.1 percent year-on-year (YoY) jump in consolidated net profit for the quarter ended June 30, 2020, at Rs 416.4 crore. On a quarter-on-quarter (QoQ) basis, profit was down 2.6 percent. Consolidated revenue from operations saw an 18.7 percent YoY jump to Rs 2,949.20 crore; sequentially, it was down 2.1 percent.

L&T Infotech | The shares were up 7 percent after the company reported a 17.1 percent year-on-year (YoY) jump in consolidated net profit for the quarter ended June 30, 2020, at Rs 416.4 crore. On a quarter-on-quarter (QoQ) basis, profit was down 2.6 percent. Consolidated revenue from operations saw an 18.7 percent YoY jump to Rs 2,949.20 crore; sequentially, it was down 2.1 percent.

DMart

Avenue Supermarts | The stock was down 14 percent after the company posted a weak set of numbers for the quarter ended June 2020. The company has reported an 87.6 percent fall in profit the June quarter at Rs 40.09 crore versus Rs 323.09 crore reported in the corresponding period last fiscal. Revenue from operations fell 33.2 percent year-on-year to Rs 3,883.2 crore in the quarter. Credit Suisse has maintained "underperform" rating with a target at Rs 2,000 per share.

L&T Technology Services

L&T Technology | The share price was down over 4 percent after the company's Q1 profit dipped 42.5 percent to Rs 117.3 crore. The company reported 42.5 percent fall in consolidated net profit at Rs 117.3 crore for the first quarter ended June 30, 2020, as against Rs 203.9 crore in the same period last year. Profit fell 42.7 percent from Rs 204.8 crore in the March quarter of FY20. It posted a consolidated revenue of Rs 1,294.7 crore in June quarter of 2020 against Rs 1,347.5 crore in the year-ago period, registering a fall of 3.9 percent.

Vodafone

Vodafone Idea | The share price shed over 8 percent as Reliance Industries' Jio Platforms announced partnership with Google and said it is ready with its 5G technology. Google has decided to invest Rs 33,737 crore for 7.7 percent stake in Jio Platforms, which RIL said would build on Jio's and Google's existing efforts to expand the benefits of digitization across the length and breadth of India, beyond the current 500+ million Internet users in the country. Shares of the battered telecom company on July 17 jumped 13 percent after telecom tribunal TDSAT stayed TRAI's interim direction asking the company to withhold its priority plan that promises 4G network on a priority basis to certain premium users. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which published moneycontrol.com.

First Published on Jul 19, 2020 07:24 am
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