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

Zomato, Britannia Industries, Aurobindo Pharma, Indigo Paints, and Ramco Cements among stocks that shook the most

November 13, 2022 / 11:00 AM IST
The market extended its northward journey for fourth consecutive week ended November 11, and seems to be making itself ready to surpass earlier record high hit a year back. The Nifty50 during the week climbed more than 200 points or 1 percent to 18,350, the highest closing level since October 19, led by buying in banking & financial services, technology and metal stocks.
1/11
The market extended its northward journey for the fourth consecutive week ended November 11, and seems to be preparing to surpass earlier record high hit a year back. The Nifty50 during the week climbed more than 200 points or 1 percent to 18,350, the highest closing level since October 19, led by buying in banking & financial services, technology, and metal stocks.
Zomato hotline
2/11
Zomato | CMP: Rs 72.80 | The scrip gained over 17 percent after global research firm Jefferies upgraded the stock to 'buy' with a target of Rs 100. The brokerage feels that the Zomato management is showing urgency to reduce losses. "Adjusted EBITDA (ex-Blinkit) is down to Rs 60 crore which is better than estimates. Blinkit growth was impressive and so is loss reduction; Hyperpure also has grown strongly," the broker was quoted as saying by CNBC-TV18. The food delivery services provider said its consolidated net loss for the quarter ended September 2022 narrowed to Rs 250.8 crore against Rs 434.9 crore registered in the same quarter last year. Its revenue from operations rose 62.20 percent to Rs 1,661.3 crore.
Britannia Industries | CMP: Rs 4098.65 | The share rose over 9 percent last week. The FMCG major posted 28 percent year-on-year growth in consolidated net profit at Rs 490 crore for the quarter ended September 2022. This was higher than analyst expectation of Rs 451 crore. The company's consolidated revenue from operations jumped 21 percent YoY to Rs 4,379.61 crore from Rs 3,607.37 crore. Japanese brokerage firm Nomura has upgraded the stock to "buy" with the target at Rs 4,600.
3/11
Britannia Industries | CMP: Rs 4098.65 | The share rose over 9 percent last week. The FMCG major posted 28 percent year-on-year growth in consolidated net profit at Rs 490 crore for the quarter ended September 2022. This was higher than analysts expectations of Rs 451 crore. Consolidated revenue from operations jumped 21 percent YoY to Rs 4,379.61 crore. Japanese brokerage Nomura upgraded the stock to "buy" with a target of Rs 4,600.
Aurobindo Pharma | CMP: Rs 489.30 | The scrip was down over 12 percent after Enforcement Directorate (ED) arrested its director Sarath Reddy in the ongoing Delhi liquor scam. Aurobindo Pharma confirmed the news of the arrest in an exchange filing, adding, "the Company is in the process of ascertaining further details and will do further disclosures as appropriate." The Hyderabad-based drug firm had posted a net profit of Rs 697 crore in the July-September period of last fiscal. Revenue from operations also declined to Rs 5,739 crore in the September quarter as against Rs 5,942 crore in the year-ago period.
4/11
Aurobindo Pharma | CMP: Rs 489.30 | The scrip was down over 12 percent after the Enforcement Directorate arrested the firm's director Sarath Reddy in the ongoing Delhi liquor scam. Aurobindo Pharma confirmed the news of the arrest in an exchange filing, adding, "the company is in the process of ascertaining further details and will do further disclosures as appropriate." The Hyderabad-based drug firm had posted a 41 percent year on year decline in its September quarter net profit at Rs 409 crore. Revenue from operations also declined to Rs 5,739 crore in the September quarter as against Rs 5,942 crore in the year-ago period.
Indigo Paints | CMP: Rs 1439.30 | The stock price declined over 11 percent after around 21 lakh shares, representing 4.4 percent equity, changed hands at Rs 1,384 per unit, reported CNBC-TV18. On November 8, sources had told CNBC-TV18 that venture capital firm Sequoia will sell off 3.3 percent equity stake worth Rs 235 crore, with a floor price set at Rs 1,315 per share. Domestic brokerage Motilal Oswal Financial Services also has a 'buy' rating on the stock with target at Rs 1,720. “Good sales momentum at a time when its peers are slowing down, and a sharp likely improvement in incremental margin means that our FY24 EPS forecast has not seen any major cut,” it noted.
5/11
Indigo Paints | CMP: Rs 1439.30 | The stock price declined over 11 percent after around 21 lakh shares, representing 4.4 percent equity, changed hands at Rs 1,384 per unit, reported CNBC-TV18. On November 8, sources had told CNBC-TV18 that venture capital firm Sequoia will sell off 3.3 percent equity stake worth Rs 235 crore, with a floor price set at Rs 1,315 per share. Domestic brokerage Motilal Oswal Financial Services has a 'buy' rating on the stock with a target of Rs 1,720. “Good sales momentum at a time when its peers are slowing down, and a sharp likely improvement in incremental margin means that our FY24 EPS (earnings per share) forecast has not seen any major cut,” it noted.
Ramco Cements | CMP: Rs 641.70 | The share price shed 10 percent after the firm reported 99.28 percent decline in consolidated net profit at Rs 3.71 crore for September quarter 2022-23 on on account of sharp rise in fuel prices and weak cement rates. The company had logged a net profit of Rs 516.77 crore in July-September period a year ago, The Ramco Cements said in a regulatory filing. Total income was up 19.21 percent to 1,800.61 crore as against Rs 1,510.33 crore in the corresponding period of previous fiscal year. Operating profit was down "mainly due to sharp increase in fuel price and weak cement prices," The Ramco Cements said in its earning statement.
6/11
Ramco Cements | CMP: Rs 641.70 | The share price shed 10 percent after the firm reported 99.28 percent decline in consolidated net profit from a year ago at Rs 3.71 crore for the September quarter 2022-23 on account of a sharp rise in fuel prices and weak cement rates. Total income was up 19.21 percent to 1,800.61 crore as against Rs 1,510.33 crore in the corresponding period of previous fiscal year. Operating profit was down.
Marico | CMP: Rs 499.15 | The stock price shed 7 percent in the week gone by. The company reported a 3 percent year on year decline in its consolidated net profit. Though results came in line with expectations of most market experts, the company on November 4 highlighted that the macro environment continues to be tough with a starker divergence between urban and rural growth. On its earnings call, the company highlighted that “it is not looking to gain near-term market share at the cost of gross margin contraction” which reflects the tough operating environment at least in the near term.
7/11
Marico | CMP: Rs 499.15 | The stock price shed 7 percent in the week gone by. The company reported a 3 percent year on year decline in its consolidated net profit. Though results came in line with expectations of most market experts, the company on November 4 highlighted that the macro environment continues to be tough with a starker divergence between urban and rural growth. On its earnings call, the company highlighted that “it is not looking to gain near-term market share at the cost of gross margin contraction” which reflects the tough operating environment at least in the near term.
Jubilant Foodworks | CMP: Rs 563.05 | The scrip was down over 7 percent last week. The company reported a good set of second quarter numbers with the net profit up 9.8 percent on-year to Rs 131.5 crore from Rs 119.8 crore and revenue from operations reaching Rs 1,301.5 crore with a 16.6 percent rise over last year. EBITDA margins for the quarter declined to 24 percent as against 25.8 percent YoY due to high raw material costs. Raw material and beverage costs grew 23 percent on-year to Rs 310 crore as against Rs 242 crore in the year-ago period. “Gross margins are down by 200 basis points YoY and if raw material costs remain at the level they are now, then margins too will remain at the same level,” the company told analysts. Only if input costs normalise, it may expect some margin improvement in the second half of the fiscal.
8/11
Jubilant Foodworks | CMP: Rs 563.05 | The scrip was down over 7 percent last week. The company reported a good set of second quarter numbers with the net profit up 9.8 percent from a year ago to Rs 131.5 crore and revenue from operations reaching Rs 1,301.5 crore clocking a 16.6 percent rise. EBITDA margins for the quarter declined to 24 percent as against 25.8 percent a year ago due to high raw material costs. Raw material and beverage costs grew 23 percent to Rs 310 crore. “Gross margins are down by 200 basis points and if raw material costs remain at the level they are now, then margins too will remain at the same level,” the company told analysts. Only if input costs normalise, the firm may expect some margin improvement in the second half of the fiscal.
Union Bank India | CMP: Rs 66.85 | The stock jumped over 24 percent last week. The bank's net profit was up 21.07 percent YoY to Rs 1,848 crore in the quarter that ended in September (Q2FY23) on the back of an improvement in its net interest margin (NIM). Union Bank's net interest income (NII) was up 21.61 percent YoY in Q2FY23 to Rs 8,305 crore. According to the bank's filing with BSE, its net interest margin (NIM) improved to 3.15 per cent in Q2FY23 from 2.95 percent in Q2FY22. Its asset quality profile improved with gross non-performing assets (GNPAs) at 8.45 percent till September 2022, compared with 12.64 percent a year ago. Net NPAs dipped to 2.64 percent from 4.61 percent. The Bank has also signed an agreement with LIC Mutual Fund for distribution of their mutual fund products through Union Bank branches.
9/11
Union Bank India | CMP: Rs 66.85 | The stock jumped over 24 percent last week. The net profit was up 21.07 percent from a year ago to Rs 1,848 crore for the quarter that ended in September (Q2FY23) on the back of an improvement in net interest margin (NIM). Net interest income (NII) was up 21.61 percent to Rs 8,305 crore. According to the bank's filing with BSE, NIM improved to 3.15 per cent in Q2FY23 from 2.95 percent a year ago. Asset quality improved with gross non-performing assets (GNPAs) at 8.45 percent as of September 2022, compared with 12.64 percent a year ago. Net NPAs dipped to 2.64 percent from 4.61 percent. The lender has also signed an agreement with LIC Mutual Fund for distribution of their mutual fund products through Union Bank branches.
AmaraRaja Batteries | CMP: Rs 625.05 | The share price added 20 percent in the week gone by. The automotive battery manufacturer reported better than expected September quarter results. The Andhra Pradesh-based company reported a 39.42 percent YoY jump in consolidated profit after tax at Rs 201.22 crore for the September quarter, thanks to higher sales. Amara Raja said its consolidated revenue from operations stood at Rs 2,700.47 crore in September quarter against Rs 2,264.15 crore in the year-ago period. Total expenses rose to Rs 2,449.11 crore from Rs 2,097.17 crore in the year-ago quarter, it said.
10/11
Amara Raja Batteries | CMP: Rs 625.05 | The share price added 20 percent in the week gone by. The automotive battery manufacturer reported better than expected September quarter results. The Andhra Pradesh-based company reported a 39.42 percent jump in consolidated profit after tax over a year ago at Rs 201.22 crore for the September quarter, thanks to higher sales. Amara Raja said its consolidated revenue from operations stood at Rs 2,700.47 crore in the September quarter against Rs 2,264.15 crore in the year-ago period. Total expenses rose to Rs 2,449.11 crore from Rs 2,097.17 crore in the year-ago quarter.
Rail Vikas Nigam | CMP: Rs 51.15 | The stock price gained 20 percent after the company emerged as the successful bidder for an international project in Maldives worth Rs 1,545 crore, the company said. The project involves the development of UTF (Uthuru Thila Falhu-Island) Harbour. This is a strategic project of the government of India.
11/11
Rail Vikas Nigam | CMP: Rs 51.15 | The stock price gained 20 percent after the company emerged as the successful bidder for an international project in the Maldives worth Rs 1,545 crore. The project involves development of UTF (Uthuru Thila Falhu-Island) Harbour. This is a strategic project of the government of India.