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

Experts largely feel the market is expected to remain rangebound with a positive bias amid lack of global cues and low volumes, and will keep an eye on domestic cues including PMI data and COVID situation

January 02, 2022 / 10:34 AM IST
Market ended higher for the first two days of the week but witnessed choppy trade for the next two days amid no major development on global and domestic front, however, bulls took charge on the last day of the year with benchmark indices closing the week with 2 percent gain.
Market ended higher for the first two days of the week but witnessed choppy trade for the next two days amid no major development on global and domestic front, however, bulls took charge on the last day of the year with benchmark indices closing the week with 2 percent gain.
Indigo Paints | The share price added over 11 percent after domestic research and broking firm Motilal Oswal initiated coverage on the stock with a buy rating. Over FY18–21, Indigo Paints delivered a sales/EBITDA/PAT CAGR of 22 percent/68 percent/70 percent, driven by its efforts on distribution expansion, the proliferation of tinting machines, brand investments, and an improving product mix through differentiated products. We expect these initiatives to continue in the coming years as well. In addition, the company has taken 18–20 percent price hikes in recent months (in line with that of the industry) amid sharp commodity inflation. Accordingly, the brokerage firm expects it to deliver a sales/EBITDA/PAT CAGR of 28 percent/ 35 percent/41 percent over FY21–24E.It further expects it to continue to do so in the coming years as well.
Indigo Paints | The share price added over 11 percent after domestic research and broking firm Motilal Oswal initiated coverage on the stock with a buy rating. Over FY18–21, Indigo Paints delivered a sales/EBITDA/PAT CAGR of 22 percent/68 percent/70 percent, driven by its efforts on distribution expansion, the proliferation of tinting machines, brand investments, and an improving product mix through differentiated products. We expect these initiatives to continue in the coming years as well. In addition, the company has taken 18–20 percent price hikes in recent months (in line with that of the industry) amid sharp commodity inflation. Accordingly, the brokerage firm expects it to deliver a sales/EBITDA/PAT CAGR of 28 percent/ 35 percent/41 percent over FY21–24E.It further expects it to continue to do so in the coming years as well.
File image: RBL Bank
RBL Bank | The stock price fell over 26 percent after the bank wrote-off loans worth Rs 300 crore within seven months of the loans being sanctioned. The key reason for Reserve Bank of India's sudden intervention in private lender RBL Bank was a Rs 300-crore loan that was written off within seven months of being sanctioned, according to a report by newspaper publication Mint.
KPIT Tech | The share price gained 13 percent after the firm raised outlook for revenue and profit for the financial year 2021-22 (FY22). The company said, for FY22, revenue growth outlook has been increased to 18 to 20 percent, while earnings before interest, tax, depreciation and amortisation (EBITDA) margin outlook has been revised to 17.5+ percent. The management had said the company is witnessing a robust demand environment resulting in strong order inflow and pipeline. With improved business visibility, the company has increased its revenue and profit outlook for the year.
KPIT Tech | The share price gained 13 percent after the firm raised outlook for revenue and profit for the financial year 2021-22 (FY22). The company said, for FY22, revenue growth outlook has been increased to 18 to 20 percent, while earnings before interest, tax, depreciation and amortisation (EBITDA) margin outlook has been revised to 17.5+ percent. The management had said the company is witnessing a robust demand environment resulting in strong order inflow and pipeline. With improved business visibility, the company has increased its revenue and profit outlook for the year.
Eris Lifesciences Ltd.
Eris Lifesciences | The stock price rose over 10 percent after Motilal Oswal initiated coverage on the stock with a ‘buy’ call. The domestic research firm has initiated coverage on Eris Lifesciences with a ‘buy’ rating and a target price of Rs 870 per share, an upside of 20 percent from current market price. “In just 14 years, Eris has built a pure-play branded formulations business, with a revenue of Rs 13 billion (12 months ending September). Notably, its PAT has nearly doubled to Rs 3.5 billion during FY16–21. The company ranks among the top 25 Indian companies in revenue terms,” the research firm said.
IDFC | The stock jumped over 21 percent after IDFC First Bank said that its board has favoured the merger of IDFC Ltd and IDFC Financial Holding Co Ltd (promoter group) with the bank. The said corporate restructuring activity will be subject to approval by the boards, shareholders and other necessary statutory/regulatory approvals, the private lender added. IDFC Financial Holding Company holds 36.52 percent stake in the bank as of September 2021, while IDFC Holds 100 percent stake in IDFC FHCL.
IDFC | The stock jumped over 21 percent after IDFC First Bank said that its board has favoured the merger of IDFC Ltd and IDFC Financial Holding Co Ltd (promoter group) with the bank. The said corporate restructuring activity will be subject to approval by the boards, shareholders and other necessary statutory/regulatory approvals, the private lender added. IDFC Financial Holding Company holds 36.52 percent stake in the bank as of September 2021, while IDFC Holds 100 percent stake in IDFC FHCL.
Sun Pharma | The stock added over 7 percent in the week gone by. The company announced that one of its wholly owned subsidiaries has received Emergency Use Authorisation (EUA) from DCGI to manufacture and market a generic version of MSD and Ridgeback’s molnupiravir under the brand name Molxvir in India. The pharma company said it is going to establish an end to end integrated manufacturing unit targeted at exports in the state of Andhra Pradesh.
Sun Pharma | The stock added over 7 percent in the week gone by. The company announced that one of its wholly owned subsidiaries has received Emergency Use Authorisation (EUA) from DCGI to manufacture and market a generic version of MSD and Ridgeback’s molnupiravir under the brand name Molxvir in India. The pharma company said it is going to establish an end to end integrated manufacturing unit targeted at exports in the state of Andhra Pradesh.
GMR
GMR Infra | The scrip was up over 7 percent last week. The GMR Group signed shareholders agreement with Indonesia's Angkasa Pura II for the development of Medan Airport on December 23. GMR Airports Netherlands B.V., a step down subsidiary of GMR Airports (GAL), on December 23, 2021, signed the Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with Angkasa Pura II (AP II) for the development and operation of Kualanamu International Airport (Project) in Medan, Indonesia. The letter of award for the project was received on 23rd November 2021, GMR Infra said in a media release.
Medicines (Representative image)
Cadila Healthcare | The share price added over 6 percent in the week gone by. The company's US arm Zydus Pharmaceuticals (USA) Inc received tentative approval from the US health regulator to market generic Pimavanserin capsules, indicated for treatment of hallucinations and delusions associated with Parkinson's disease psychosis. The approval by the US Food & Drug Administration for the generic Pimavanserin capsules is for the strength of 34 mg, Cadila Healthcare said in a regulatory filing. "The drug will be manufactured at the group's formulation manufacturing facility at SEZ Ahmedabad," it added.
Lupin | The stock added 6 percent after the company received USFDA approval for sevelamer carbonate for oral suspension.
Lupin | The stock added 6 percent after the company received USFDA approval for sevelamer carbonate for oral suspension. "Lupin has received approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Sevelamer Carbonate for Oral Suspension, 0.8 g and 2.4 g packets to market a generic equivalent of Renvela for Oral Suspension, 0.8 g and 2.4 g Packets of Genzyme," the company said in its press release. The product will be manufactured at the company’s Goa facility in India. The firm earlier received a tentative approval from the USFDA for its ANDA Azilsartan Medoxomil Tablets, 40 mg, and 80 mg to market a generic equivalent of Edarbi Tablets, 40 mg, and 80 mg, of Arbor Pharmaceuticals, LW.
Inox Leisure | The scrip was down over 3 percent in the week gone by. Multiplex stocks have been under pressure as states announced new curbs on the back of rising Omicron COVID variant cases. The Delhi government announced several curbs in view of the rising COVID-19 cases. The fresh order has asked cinemas to shut down and imposed restrictions on timings of malls, markets and restaurants.
Inox Leisure | The scrip was down over 3 percent in the week gone by. Multiplex stocks have been under pressure as states announced new curbs on the back of rising Omicron COVID variant cases. The Delhi government announced several curbs in view of the rising COVID-19 cases. The fresh order has asked cinemas to shut down and imposed restrictions on timings of malls, markets and restaurants.
Sandip Das
first published: Jan 2, 2022 10:34 am
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