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

IndusInd Bank, Vedanta, RBL Bank, and UltraTech Cement among stocks that stirred

July 24, 2022 / 11:19 AM IST
The BSE Sensex climbed more than 2,300 points to 56,072 and the Nifty50 jumped 670 points to 16,719 as all sectors contributed to this rally with IT, banks, capital goods, and metal being prominent gainers.
The BSE Sensex climbed more than 2,300 points to 56,072 and the Nifty50 jumped 670 points to 16,719 as all sectors contributed to this rally with IT, banks, capital goods, and metal being prominent gainers. The rally was also seen in the broader space as Nifty Midcap 100 and Smallcap 100 indices gained 3.7 and 4.6 percent respectively.
IndusInd Bank | CMP: Rs 942.45 | The share jumped over 15 percent after the bank reported a 60.5 percent year-on-year rise in net profit at Rs 1,631.1 crore for the quarter ended June, which was above the analyst expectation of Rs 1,423.5 crore. The rise in net profit was helped by a 30 percent on-year fall in provisions as well as a 16 percent growth in net interest income. Foreign broking house Credit Suisse has kept 'outperform' call on the stock with a target price Rs 1,150 per share. Jefferies has kept 'buy' rating on the stock with a target price Rs 1,250 per share as profit rose 64 percent YoY with stronger fees and lower credit cost.
IndusInd Bank | CMP: Rs 942.45 | The share jumped over 15 percent after the bank reported a 60.5 percent year-on-year rise in net profit at Rs 1,631.1 crore for the quarter ended June, which was above the analyst expectations of Rs 1,423.5 crore. The rise in net profit was helped by a 30 percent on-year fall in provisions as well as a 16 percent growth in net interest income. Foreign broking house Credit Suisse has kept an 'outperform' call on the stock with a target price of Rs 1,150 per share. Jefferies has kept a 'buy' rating on the stock with a target price of Rs 1,250 per share.
Vedanta | CMP: Rs 258.35 | The stock gained over 13 percent after the company announced a hefty second interim dividend. The government’s decision to slash additional excise duty imposed on crude oil production also gave a boost to the stock. Vedanta announced a Rs 19.5 a share second interim dividend that will result in a dividend payout of Rs 7,250 crore. The company’s total dividend payout for 2022-23 is now close to Rs 19,000 crore. the stock also got a boost from the government’s announcement of slashing the fixed special excise duty on crude oil production to Rs 17,000 per tonne from Rs 23,250 per tonne effective from July 20.
Vedanta | CMP: Rs 258.35 | The stock gained over 13 percent after the company announced a hefty second interim dividend. The government’s decision to slash additional excise duty imposed on crude oil production also gave a boost to the stock. Vedanta announced a Rs 19.5 per share second interim dividend that will result in a dividend payout of Rs 7,250 crore. The company’s total dividend payout for 2022-23 is now close to Rs 19,000 crore. The stock also got a boost from the government slashing the fixed special excise duty on crude oil production to Rs 17,000 per tonne from Rs 23,250 per tonne from July 20.
RBL Bank | The scrip rose over 12 percent in the week gone by. The private sector lender reported a consolidated net profit of Rs 208.66 crore in the June quarter as against a loss of Rs 462.25 crore in the year-ago period. The lender had reported a net profit of Rs 164.77 crore in the preceding March quarter. On a standalone basis, its post tax profit came at Rs 201.16 crore for the reporting quarter. Its core net interest income increased by 6 percent to Rs 1,028 crore on a 7 percent growth in advances and the Net Interest Margin (NIM) being at the stable 4.36 percent. The NIM, however, contracted when compared with 5.04 percent registered in the March quarter. During the reporting quarter, it saw wholesale advances climbing up 22 percent, which included giving loans to clients who had ceased to be on the bank's list after the 2019 consolidation exercise and those who have recovered from the reverses of COVID, executives said.
RBL Bank | The scrip rose over 12 percent in the week gone by. The private sector lender reported a consolidated net profit of Rs 208.66 crore in the June quarter as against a loss of Rs 462.25 crore in the year-ago period. The lender had reported a net profit of Rs 164.77 crore in the preceding March quarter. On a standalone basis, post-tax profit came in at Rs 201.16 crore for the reporting quarter. Its core net interest income increased 6 percent to Rs 1,028 crore on a 7 percent growth in advances and net interest margin (NIM) remaining stable at 4.36 percent. The NIM, however, contracted when compared with 5.04 percent registered in the March quarter. During the reporting quarter, the lender saw wholesale advances climbing 22 percent, which included giving loans to clients who had ceased to be on the bank's list after the 2019 consolidation exercise and those who have recovered from the reverses of COVID, executives said.
UltraTech Cement | The stock price was up 11 percent last week. The largest cement manufacturer in India, on July 22 reported a 6.8 percent decline in net profit at Rs 1,584 crore for the quarter ended June as against Rs 1,703 crore it recorded a year back. On a sequential basis, the company's profit has gone down 35.6 percent from Rs 2,461 crore earned in the January-March period. The company beat the street’s estimates for both the profit as well as its consolidated revenues. The consolidated revenues for the Aditya Birla Group flagship company rose 28.2 percent on-year to Rs 15,164 crore from Rs 11,830 crore. On a sequential basis, the revenue is marginally lower by 3.8 percent from the revenue of Rs 15,767 crore recorded in the previous quarter.
UltraTech Cement | The stock price was up 11 percent last week. The largest cement manufacturer in India on July 22 reported a 6.8 percent decline in net profit at Rs 1,584 crore for the quarter ended June as against Rs 1,703 crore recorded a year back. On a sequential basis, the profit has gone down 35.6 percent. The company beat Street estimates for both profit and consolidated revenues. The consolidated revenues for the Aditya Birla Group flagship company rose 28.2 percent on-year to Rs 15,164 crore. On a sequential basis, the revenue was marginally lower by 3.8 percent.
L&T Tech | CMP: Rs 3422.25 | The share price rose over 10 percent after the firm reported net profit of Rs 274 crore for the first quarter ended June 30, 2022 up 27 percent year-on-year. Sequentially the profit was up 4.7 percent. Revenue for the company, which focuses on engineering services, grew at 23 percent YoY at Rs 1,873 crore, abd 6.7 percent sequentially. The company also reaffirmed the FY23 revenue growth guidance of 13.5-15.5 percent. The firm's dollar revenue grew 3.2 percent at $239.5 million, and came in at 4.7 percent in constant currency. During the quarter, LTTS won a $50 million plus deal, four $15 million deals and two deals with TCV of $10 million.
L&T Technology Services | CMP: Rs 3422.25 | The share price rose over 10 percent after the firm reported a net profit of Rs 274 crore for the quarter ended June 30, up 27 percent year-on-year. Sequentially the profit was up 4.7 percent. Revenue for the company, which focuses on engineering services, grew 23 percent YoY at Rs 1,873 crore and 6.7 percent sequentially. The company also reaffirmed the FY23 revenue growth forecast of 13.5-15.5 percent. The firm's dollar revenue grew 3.2 percent to $239.5 million and 4.7 percent in constant currency terms. During the quarter, the company won a $50 million plus deal, four $15 million deals, and two deals with TCV of $10 million.
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Yes Bank | CMP: Rs 14.70 | The stock price was up over 10 percent after the bank reported a 50 percent year-on year (YoY) rise in its net profit for the quarter ended June at Rs 311 crore. Net interest income (NII) for the quarter rose 32 percent YoY to Rs 1,850 crore, with 14 percent YoY credit growth and 18 percent increase in deposits, the bank said in its BSE filing. Net interest margin (NIM) for the quarter came in at 2.4 percent, up nearly 30 basis points YoY, the bank added. Provisions for bad loans for the quarter came in at Rs 175 crore declining 62 percent YoY and 36 percent sequentially, aided by lower slippages that came in at Rs 1,072 crore against Rs 2,233 crore in corresponding quarter last fiscal.
Kajaria Ceramics | CMP: Rs 1128.10 | The stock gained over 13 percent in the week gone by. The company's Q1 revenue grew 80% YoY down 8.5% QoQ spurred by a 15% (+2% QoQ) rise in tile realisations and 53% (-10% QoQ) volume growth. According to brokerage firm Sharekhan, the company reported a strong beat on net earnings for Q1FY2023 led by higher-than-expected revenue growth and operating margins. The management retained 15-20% y-o-y volume growth guidance for FY2023 although reframed from giving guidance on OPM due to volatility in gas prices. It acquired 51% stake in South Asian Ceramics having 4.8msm ceramic floor tiles capacity which would strengthen its presence in South. It has retained a buy rating on Kajaria Ceramics with a revised target of Rs 1300 on account of strong earnings growth led by market share gains.
Kajaria Ceramics | CMP: Rs 1128.10 | The stock gained over 13 percent in the week gone by. The company's June quarter revenue grew 80% year on year (YoY) and declined 8.5% quarter on quarter on a 15% (+2% QoQ) rise in tile realisations and 53% (-10% QoQ) volume growth. According to brokerage firm Sharekhan, the company reported a strong beat on net earnings for the June quarter led by higher-than-expected revenue growth and operating margins. The management retained 15-20% YoY volume growth forecast for FY2023 although it refrained from giving forecast on OPM due to volatility in gas prices. It acquired 51% stake in South Asian Ceramics having 4.8msm ceramic floor tiles capacity which would strengthen its presence in South. 
Gland Pharma | CMP: Rs 2280.40 | The share price was down over 7 percent after the company reported 35 percent year-on-year (YoY) decline in profit after tax (PAT) to Rs 229 crore in June quarter (Q1FY23), due to lower operational income. The pharmaceutical company's PAT stood at Rs 351 crore in Q1FY22. Its revenue from operations declined 26 percent YoY to Rs 857 crore from Rs 1,154 crore, and 22 percent QoQ from Rs 1,103 crore. Last year's revenue was higher due to Covid-19 related product sales. Earnings before interest, taxes, depreciation and amortization (ebitda) margin contracted 400 bps to 37 per cent from 41 per cent in the year-ago quarter.
Gland Pharma | CMP: Rs 2,280.40 | The share price was down over seven percent after the company reported 35 percent year-on-year (YoY) decline in profit after tax (PAT) to Rs 229 crore in June quarter (Q1FY23) due to lower operational income. The pharmaceutical company's PAT stood at Rs 351 crore in Q1FY22. Its revenue from operations declined 26 percent YoY to Rs 857 crore from Rs 1,154 crore, and 22 percent QoQ from Rs 1,103 crore. Last year's revenue was higher due to Covid-19 related product sales. Earnings before interest, taxes, depreciation and amortisation (Ebitda) margin contracted 400 basis points to 37 per cent from 41 per cent in the year-ago quarter.
Syngene International | CMP: Rs 572.65 | The scrip was down over 6 percent last week. The company reported a 4 percent decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore in the April-June quarter of last fiscal. Its revenue from operations rose to Rs 644 crore in the first quarter against Rs 595 crore in the year-ago period, the company said in a statement. The decline in profit in the quarter was expected, given the strong sales of Remdesivir last year when India was in the midst of the second wave of the pandemic, it said.
Syngene International | CMP: Rs 572.65 | The scrip was down over six percent last week. The company reported a four percent year on year decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. Revenue from operations rose to Rs 644 crore in the first quarter against Rs 595 crore in the year-ago period. The decline in profit in the quarter was expected, given the strong sales of Remdesivir last year when India was in the midst of the second wave of the pandemic, it said.
Mindtree | CMP: Rs 3181.85 | The stock was up over 12 percent after the firm reported a 37.3% year-on-year growth in its consolidated net profit at Rs 471.6 crore for the quarter ending 30 June, 2022 as compared to Rs 343.3 crore in the same quarter last year. Revenue from operations, rose 36.2% to Rs 3,121 crore as compared to Rs 2,291.7 crore in the year-ago period.
Mindtree | CMP: Rs 3,181.85 | The stock was up over 12 percent after the firm reported a 37.3% year-on-year growth in its consolidated net profit at Rs 471.6 crore for the quarter ended June. Revenue from operations rose 36.2% to Rs 3,121 crore.
Sandip Das
first published: Jul 24, 2022 11:19 am
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