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Movers & Shakers | Top 10 stocks that moved the most last week

SBI, PVR, Bandhan Bank among 10 stocks that were in focus last week
Nov 8, 2020 / 10:52 AM IST
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The BSE Sensex rallied 2,279 points or 5.75 percent to close at 41,893.06, and the Nifty50 climbed 621.15 points or 5.34 percent to 12,263.55 during the week. Here are 10 stocks that were in focus last week:
State bank of India (SBI)
State Bank of India | The stock added over 15 percent last week after the PSU bank declared its September quarter results. It reported a 51.9 percent year-on-year growth in standalone profit for the September quarter at Rs 4,574 crore compared to Rs 3,012 crore in the year-ago period. Its net interest income (NII), the difference between interest earned and interest expended, climbed 14.6 percent year-on-year to Rs 28,181.5 crore in Q2 FY21 with credit growth at 6.02 percent YoY and net interest margin at 3.34 percent for the quarter. CLSA has reiterated buy on the stock and raised the target price to Rs 330 from Rs 310 per share.
Bandhan Bank | The stock was up over 14 percent last week. The bank reported 5.3 percent decline in net profit at Rs 920 crore for September quarter of the current fiscal year. Total income grew 22 percent to Rs 2,304.90 crore in July-September 2020-21 as against Rs 1,889.30 crore in the year-ago period, Bandhan Bank said in a regulatory filing. Net interest income of the Kolkata-headquartered lender jumped 25.8 percent to Rs 1,923.1 crore during the quarter while the non-interest income grew 6.1 percent to Rs 381.8 crore. Total Advances grew 19.4 percent to Rs 76,614.6 crore as on September 30, 2020. Total deposits increased 34.4 per cent to Rs 66,127.7 crore.
Bandhan Bank | The stock was up over 14 percent last week. The bank reported 5.3 percent decline in net profit at Rs 920 crore for September quarter of the current fiscal year. Total income grew 22 percent to Rs 2,304.90 crore in July-September 2020-21 as against Rs 1,889.30 crore in the year-ago period, Bandhan Bank said in a regulatory filing. Net interest income of the Kolkata-headquartered lender jumped 25.8 percent to Rs 1,923.1 crore during the quarter while the non-interest income grew 6.1 percent to Rs 381.8 crore. Total Advances grew 19.4 percent to Rs 76,614.6 crore as on September 30, 2020. Total deposits increased 34.4 per cent to Rs 66,127.7 crore.
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PVR | The share price gained over 13 percent after the Maharashtra government allowed cinema halls/theatres/multiplexes to open with 50 percent capacity from November 5. CLSA has maintained buy with a target at Rs 1,600 per share. The company's consolidated revenue for the quarter ended September 30, 2020, was at Rs 111 crore compared to Rs 979 crore during the corresponding period of last year.
SRF | The stock price was up 12 percent after the chemicals maker said its consolidated net profit rose 57 percent to Rs 316 crore for the quarter ended September. Its net profit stood at Rs 201 crore in the year-ago period.
SRF | The stock price was up 12 percent after the chemicals maker said its consolidated net profit rose 57 percent to Rs 316 crore for the quarter ended September. Its net profit stood at Rs 201 crore in the year-ago period. "The consolidated revenue of the company increased 21 percent from Rs 1,738 crore to Rs 2,101 crore in Q2 FY21 when compared with corresponding period last year," SRF said in a statement.
Cholamandalam Investment
Cholamandalam Investment | The share price added 11 percent after the company reported a 41 percent rise in profit after tax to Rs 432 crore for the September 2020 quarter, on improvement in net income margin and lower operational expenses. The diversified financial services company had posted a profit after tax of Rs 307 crore in the corresponding quarter of the previous financial year. Total provisions carried against the overall book stood at 2.64 percent as against the normal overall provision levels of 1.75 percent carried prior to the COVID-19 pandemic, representing an increase of nearly 50 percent.
SAIL | The stock added 10 percent after the domestic steel giant reported a consolidated net profit of Rs 436.52 crore for the second quarter ended September 30, mainly on account of higher income. During the July-September period, the company’s total consolidated income increased to Rs 17,097.57 crore, from Rs 14,282.17 crore in the corresponding quarter previous fiscal. Its total standalone income rose to Rs 17,121.22 crore from Rs 14,286.18 crore in the same period last fiscal.
SAIL | The stock added 10 percent after the domestic steel giant reported a consolidated net profit of Rs 436.52 crore for the second quarter ended September 30, mainly on account of higher income. During the July-September period, the company’s total consolidated income increased to Rs 17,097.57 crore, from Rs 14,282.17 crore in the corresponding quarter previous fiscal. Its total standalone income rose to Rs 17,121.22 crore from Rs 14,286.18 crore in the same period last fiscal.
NMDC
NMDC | The share price was up over 9 percent after the company said its board is going to consider share buyback. The meeting of the board of directors of the company is scheduled on November 10 to consider and approve and take on record the unaudited financial results of the company for the quarter and half year ended 30 September 2020.
HPCL
HPCL | The stock price gained over 9 percent after the company's Q2 FY21 standalone net profit more than doubled to Rs 2,477.4 crore against Rs 1,052.3 crore in the corresponding quarter a year ago. Revenue, however, declined 14.9 percent YoY to Rs 51,773.3 crore for the quarter against Rs 60,868.4 crore in the previous year's same quarter. The company's total expenses for the quarter stood at Rs 59,127.31 crore against Rs 65,237.24 crore YoY. The company's board approved a proposal for buyback of equity shares for an aggregate amount not exceeding Rs 2 500 crore and at a price not exceeding Rs 250 per equity share, payable in cash, from its shareholders / beneficial owners from the open market. CLSA has upgraded the stock to buy from sell and raised the target price to Rs 225 from Rs 180 per share.
BASF | The stock added over 9 percent after the chemical maker reported a consolidated net profit of Rs 412.8 crore for the second quarter of the current fiscal. Its net profit stood at Rs 2.32 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income for the September quarter increased to Rs 2,462.8 crore from Rs 2,080.5 in the year-ago period.
BASF | The stock added over 9 percent after the chemical maker reported a consolidated net profit of Rs 412.8 crore for the second quarter of the current fiscal. Its net profit stood at Rs 2.32 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income for the September quarter increased to Rs 2,462.8 crore from Rs 2,080.5 in the year-ago period.
Sun Pharmaceutical Industries Ltd
Sun Pharma | The stock price was up over 9 percent after the drug major reported a massive 70.4 percent year-on-year growth in consolidated profit, driven by operating performance and tax credit, though forex loss limited growth. Consolidated profit increased to Rs 1,813 crore in the quarter compared to Rs 1,064 crore in the same period last year. Morgan Stanley has an "overweight" rating with target at Rs 611 per share. CLSA has a buy rating with the target of Rs 710 per share.
Sandip Das
first published: Nov 8, 2020 10:52 am

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