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

The benchmark indices ended a volatile week marginally higher but the Sensex lost 4.5 percent and the Nifty shed 4.8 percent in June as soaring inflation, FII outflows and concerns over economic recovery continue to grow

July 03, 2022 / 11:29 AM IST
Markets remained in consolidation phase throughout the week and ended with marginal gains in a highly volatile week ended July 1 amid a falling rupee, persistent FIIs selling, strong auto sales numbers for June, second-highest monthly GST collection and mixed global markets with Dow setting up for its worst first six months since 1962. For the week, BSE Sensex was up 179.95 points (0.34 percent) to close at 52,907.93, while the Nifty50 was up 52.75 points (0.33 percent) to end at 15,752 levels. However, in the month of June, Sensex lost 4.5 percent and Nifty50 shed 4.8 percent.
The markets remained in consolidation mode and ended with marginal gains in the week ended July 1 amid a falling rupee, persistent FII selling, auto sales numbers, second-highest monthly GST collection and mixed global cues. For the week, the Sensex was up 179.95 points (0.34 percent) at 52,907.93, while the Nifty50 was up 52.75 points (0.33 percent) at 15,752. The Sensex lost 4.5 percent and the Nifty shed 4.8 percent in June as concerns mount for the global economy.
Bajaj Auto | CMP: Rs 3624.60 | The share price slipped 5 percent after the company reported weak two-wheeler sales for June. Bajaj Auto’s domestic two-wheeler sales fell 20 percent year-on-year to 125,083 units in June despite the year-ago month being partially affected by the second wave of the COVID-19 pandemic. Overall, two-wheeler sales rose merely 2 percent on a year-on-year basis to 315,948 units in the previous month as the company continues to face challenges relating to securing semiconductors. Analysts had expected the company to report around 321,000 units of sales volumes for June. Expectations in the market were that two-wheeler sales were seeing a recovery owing to good rabi season crops. The firm on June 27 informed stock exchanges that the company has approved the buyback of shares worth up to Rs 2,500 crore. The two-wheeler major intends to buy back 54.35 lakh shares aggregating up to 1.88 percent of the paid-up share capital via the open market at Rs 4,600 apiece.
Bajaj Auto | CMP: Rs 3624.60 | The share price slipped 5 percent after the company reported weak two-wheeler sales for June. Bajaj Auto’s domestic two-wheeler sales fell 20 percent year-on-year to 125,083 units in the month even though the year-ago period was partially affected by the second wave of the COVID-19 pandemic. Overall, two-wheeler sales rose merely 2 percent year-on-year to 315,948 units as the company continues to face challenges in securing semiconductors. Analysts had expected the company to report around 321,000 units of sales volumes for June. Expectations in the market were that two-wheeler sales were seeing a recovery owing to a good rabi season. The firm on June 27 informed stock exchanges that the company approved a buyback of shares worth up to Rs 2,500 crore. The two-wheeler major intends to buy back 54.35 lakh shares aggregating up to 1.88 percent of the paid-up share capital via the open market at Rs 4,600 apiece.
Titan Company | CMP: Rs 1946.20 | The scrip was down 5 percent after the government increased import taxes on gold to 12.5 per cent from 7.5 per cent. The step has been taken in an effort to curb imports, as the rupee slumped to a record low. India is the world’s second biggest consumer of gold. It is currently staring at higher trade and current account deficits amid volatile global macroeconomic conditions. India imported gold worth $6.03 billion in May, a nine-fold rise from a year earlier. The country’s trade deficit in May ballooned to a record high of $24.29 billion.
Titan Company | CMP: Rs 1,946.20 | The scrip was down 5 percent after the government increased the import tax on gold to 12.5 percent from 7.5 percent. The decision was taken to curb imports, as the rupee slumped to a record low. India is the world’s second-biggest consumer of gold. It is staring at higher trade and current account deficits amid volatile global macroeconomic conditions. India imported gold worth $6.03 billion in May, a nine-fold rise from a year earlier. The country’s trade deficit in May ballooned to a record high of $24.29 billion.
Tube Investments: CMP: Rs 1764.90 | The stock jumped over 11 percent in the week gone by. Motilal Oswal Financial Services initiated coverage on the stock with a ‘buy’ rating and set a price target of Rs 1,900, implying an upside of 25 percent over the next 12 months. “Tube Investments offers diversified revenue streams, with strong growth in the core business, ramp-up in CG Power and optionality of new businesses incubated under TI-2 strategy,” the brokerage said in a note on June 24. It believes that the new strategy of the company could be a trigger for rerating in the future as the company looks to reinvest its cash flows to seed new platforms for long term growth and acquire stressed assets.
Tube Investments | CMP: Rs 1,764.90 | The stock jumped over 11 percent in the week gone by. Motilal Oswal Financial Services initiated coverage on the stock with a ‘buy’ rating and set a price target of Rs 1,900, implying an upside of 25 percent over the next 12 months. “Tube Investments offers diversified revenue streams, with strong growth in the core business, ramp-up in CG Power and optionality of new businesses incubated under TI-2 strategy,” the brokerage said in a note on June 24. It believes that the new strategy of the company could be a trigger for rerating in the future as it looks to reinvest its cash flows to seed new platforms for long-term growth and acquire stressed assets.
TVS Motor Company | CMP: Rs 860.45 | The share added 7 percent last week. TVS Motor Company registered a growth of 22 percent in June with sales of 308,501 units as against 251,886 units in the month of June 2021. Total two-wheelers registered a growth of 23 percent with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022. Domestic two-wheeler registered growth of 33 percent with sales increasing from 145,413 units in June 2021 to 193,090 units in June. Motorcycle registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021. Scooter sales of the Company grew from 53,956 units in June 2021 to 105,211 units in June. The two-wheeler automobile company is reportedly in talks with TPG Capital and KKR & Co to raise at least $300 million for its electric vehicle (EV) business. Moneycontrol was the first to report that the company had plans to seek investments for its EV segment, TVS Electric Mobility, which it carved out as a subsidiary in December last year.
TVS Motor Company | CMP: Rs 860.45 | The share added 7 percent last week. TVS Motor Company registered a growth of 22 percent in June with sales of 308,501 units as against 251,886 units in June 2021. Two-wheeler sales grew 23 percent with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022. Domestic two-wheeler sales grew 33 percent, up from 145,413 units sold in June 2021 to 193,090 units in June 2022. Motorcycles registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021. Scooter sales grew from 53,956 units in June 2021 to 105,211 units in June 2022. The two-wheeler maker is reportedly in talks with TPG Capital and KKR & Co to raise at least $300 million for its electric vehicle (EV) business. Moneycontrol was the first to report that the company had plans to seek investments for its EV segment, TVS Electric Mobility, which it carved out as a subsidiary in December last year.
Zomato | CMP: Rs 56.15 | The stock fell over 20 percent in the week gone by. The firm had informed the bourses that its board has given its approval for acquisition of up to 33,018 equity shares of quick commerce company Blink Commerce (BCPL) (formerly known as Grofers India) for Rs 4,447.48 crore in an all-stock deal. The acquisition is at a price of Rs 13,46,986.01 per share by issuance and allotment of up to 62,85,30,012 fully paid-up equity shares of the company having face value of Re 1 each at a price of Rs 70.76 per equity share, it said in the stock exchange filing. Broking house CLSA has maintained buy rating on Zomato with a target at Rs 90 per share. Research firm Credit Suisse has kept outperform rating on the stock with a target at Rs 90 per share.
Zomato | CMP: Rs 56.15 | The stock fell over 20 percent in the week gone by. The firm informed the bourses that its board had given its approval for the acquisition of up to 33,018 equity shares of quick commerce company Blink Commerce (BCPL) (formerly Grofers India) for Rs 4,447.48 crore in an all-stock deal. The acquisition is at a price of Rs 13,46,986.01 a share and allotment of up to 62,85,30,012 fully paid-up equity shares of the company having the face value of Re 1 each at a price of Rs 70.76 per equity share, it said in the stock exchange filing. Broking house CLSA has maintained "buy" rating on Zomato with a target at Rs 90 a share. Research firm Credit Suisse has an "outperform" rating on the stock with a target at Rs 90 a share.
Oil India Limited | CMP: Rs 213.85 | The share price shed over 11 percent after the government imposed a special additional excise duty of Rs 23,250 per tonne of crude oil production. In a wide-ranging notification by the government that has sought to curtail some of the outsized benefits reaped by domestic oil producers and crude oil refiners, the government has imposed special excise duties or windfall gains tax on the oil and gas industry. The imposition of the new excise duty will severely restrict the benefits from elevated global crude oil prices to earnings of companies like ONGC and Oil India.
Oil India Limited | CMP: Rs 213.85 | The share price shed over 11 percent after the government imposed an additional excise duty of Rs 23,250 per tonne of crude oil production. In a wide-ranging notification that sought to curtail some of the outsized benefits reaped by domestic oil producers and crude oil refiners, the government imposed special excise duties, or windfall gains tax, on the oil and gas industry. The imposition of the new excise duty would severely restrict the benefits from elevated global crude oil prices to the earnings of companies like ONGC and Oil India.
Indian Energy Exchange | CMP: Rs 159.75 | The stock price was down over 8 percent in the week gone by as the operations at India's third power exchange, Hindustan Power Exchange (HPX) looks imminent, with final approval from the Central Electricity Regulatory Commission (CERC) on June 27. CERC's approval was under Regulation 28 of Central Electricity Regulatory Commission (Power Market) Regulations 2021 for approval of the technology to be used by the exchange, according to media reports.
Indian Energy Exchange | CMP: Rs 159.75 | The stock price was down over 8 percent in the week gone by even as the operations at India's third power exchange Hindustan Power Exchange (HPX) look imminent, with final approval from the Central Electricity Regulatory Commission (CERC) on June 27. CERC's approval was under Regulation 28 of Central Electricity Regulatory Commission (Power Market) Regulations 2021 for approval of the technology to be used by the exchange, according to media reports.
AU Small Finance Bank
AU Small Finance Bank | CMP: Rs 578.90 | The share fell over 5 percent during the week, with global research firm Credit Suisse saying it expected the growth to moderate from historical levels. "Elevated operational expenditure will keep RoA at 1.7 percent and RoE around 17 percent, which is quite similar to larger banks as the stock trades are premium," Credit Suisse said. Crisil revised its outlook on long-term debt instruments (tier-II bonds, non-convertible debentures, and subordinated debt bonds) of AU Small Finance Bank to AA/Stable. Earlier, tier II bonds had a rating of CRISIL AA-/Positive that has been upgraded to CRISIL AA/Stable, the lender said in a statement. Also, rating on the bank’s fixed deposit programme has been upgraded from CRISIL FAA+/Positive to AA/Stable.
Muthoot Finance | CMP: Rs 1,039.80 | The stock gained over 5 percent last week. The NBFC said it has received the Reserve Bank of India's permission for opening 150 new branches. In a separate exchange filing, the company announced that the transaction of primary issuance of 32,35,295 equity shares of the face value of Rs 10 each at a premium of Rs 330 per share in its subsidiary, Belstar Microfinance, has been completed.
Muthoot Finance | CMP: Rs 1,039.80 | The stock gained over 5 percent during the week. The NBFC said it received the Reserve Bank of India's permission for opening 150 new branches. In a separate exchange filing, the company announced the transaction of primary issuance of 32,35,295 equity shares of the face value of Rs 10 each at a premium of Rs 330 per share in its subsidiary, Belstar Microfinance, has been completed.
Bandhan Bank | CMP: Rs 264.85 | The share price slipped over 7 percent on fears that the floods in Assam and neighbouring areas could impact the operation of the company in the region, analysts said. The Kolkata-headquartered lender has a large focus on the eastern parts of the country. “In most of the cases, loans disbursed by the banks in the northeast region affected by floods are non-collateral loans, thus with flood hitting the region, there is growing employment crisis leading to rise in non-performing assets (NPAs),” IIFL Securities analyst Sanjiv Bhasin said.
Bandhan Bank | CMP: Rs 264.85 | The share price slipped over 7 percent on fears that the floods in Assam and the neighbouring areas could impact the operation of the private lender in the region, analysts said. The Kolkata-headquartered lender has a large focus on the eastern parts of the country. “In most of the cases, loans disbursed by the banks in the northeast region affected by floods are non-collateral loans, thus with flood hitting the region, there is growing employment crisis leading to rise in non-performing assets (NPAs),” IIFL Securities analyst Sanjiv Bhasin said.
Sandip Das
first published: Jul 3, 2022 11:29 am
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