The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week.
Indian markets ended on a positive note in the volatile week ended August 9 amid June quarter earnings, RBI monetary policy, and fresh concerns over Sino-US trade worries.
Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) reduced repo rates by another 35 basis points to 5.4 percent in the August Policy review while maintaining an accommodative stance. It now stands at the lowest level since April 2010.
The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week.
The S&P BSE Midcap index rose 1.26 percent, Smallcap Index added 1.10 percent and S&P BSE Largecap Index was up 0.68 percent last week.
Here is a list of 10 stocks which moved most in the last week:
Tata Steel | Down 11 percent
Tata Steel has reported a steep 64.3 percent year-on-year (YoY) decline in June quarter profit at Rs 693 crore amid muted revenue growth and subdued operating income.
The profit in the corresponding quarter last year was at Rs 1,940.8 crore. Lower other income (down 29 percent YoY) also impacted the bottom line.
Revenue during the quarter grew by 1.27 percent YoY to Rs 35,947.1 crore, dented by lower domestic and Europe growth. It was supported by Tata Steel BSL (erstwhile Bhushan Steel acquired under NCLT) which showed 105.5 percent growth YoY at Rs 4,332.73 crore in Q1.
Tata Steel India business declined nearly 2 percent to Rs 16,091 crore and Tata Steel Europe revenue fell 11.77 percent to Rs 14,495 crore compared to year-ago.
Endurance Technologies | Down 9 percent
The company's consolidated Q1FY20 net profit rose 32.9 percent at Rs 165.6 crore, against Rs 124.6 crore in the year-ago period. Its revenue grew 2.6 percent at Rs 1,909.2 crore against Rs 1,860.4 crore.
The earnings before interest, tax, depreciation and amortization (EBITDA) rallied 25.8 percent at Rs 341.4 crore. Meanwhile, the margin increased 330 bps at 17.9 percent.
The company's board has decided not to pursue the project of manufacturing of tyres for two- and three-wheelers, as per company release.
HCL Technologies | Up 7 percent
Shares of HCL Technologies rose more than 7 percent as brokerages are maintaining the buy rating on the stock despite the company posting a decline in its Q1 net profit on August 7.
The company reported a 13 percent sequential decline in the June quarter (Q1) profit at Rs 2,220 crore, dented by operating income, but maintained full-year revenue growth guidance.
The profit in the previous quarter was Rs 2,568 crore. The YoY profit fall was 7.6 percent.
Revenue was ahead of estimates at Rs 16,425 crore in the quarter ended June 2019, growing 2.7 percent sequentially and 18.7 percent YoY, the company said in its BSE filing.
Revenue in dollar terms increased 3.8 percent quarter-on-quarter (15 percent YoY) to $2,364 million and the same in constant currency grew by 4.2 percent QoQ (up 17 percent YoY).
BNP Paribas has maintained a buy rating on the stock but cut its target to Rs 1,200 from Rs 1,240 per share. Nomura has maintained buy call on the stock with a target at Rs 1,270 per share.
CLSA has also maintained a buy rating on HCL Technologies with a target at Rs 1,380 per share. However, Jefferies has maintained hold rating on the stock and raised the target to Rs 1,120 from Rs 1,090 per share.
SRF | Up 10 percent
The company registered 42 percent jump in its Q1 profit to Rs 189.2 crore against Rs 133.8 crore in the same quarter last year. Revenue of the company increased by 9 percent at Rs 1,828.4 crore versus Rs 1,676.2 crore.
The board of directors of the company has declared an interim dividend at 70 percent i.e. Rs 7 per share on the paid-up equity share capital of the company.
The board also approved the project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs 424 crore. The proposed capacity addition is 5,000 MTPA by October 31, 2021, with a mix of debt and internal accruals.
Cox & Kings | Down 22 percent
Shares of Cox & Kings touched a 52-week low on payment default of unsecured commercial paper. The company has defaulted on Rs 5 crore payments on unsecured commercial paper due on August 6.
Earlier, the company had defaulted on payment of Rs 100 crore worth unsecured commercial paper due on August 1, 2019, and repayment of Rs 10 crore on commercial papers due on July 29.
Tata Motors | Down 6 percent
Shares of Tata Motors touched a 52-week low after ICRA downgraded the automaker's rating, citing weakening of the financial profile of its British luxury car unit Jaguar Land Rover.
The credit rating agency downgraded Tata Motor's long term loans, long-term fund-based facilities and non-convertible debenture programme to AA- from AA, with the outlook remaining negative.
However, the agency reaffirmed the rating as A1+ on the commercial paper programme and short-term programme.
Coffee Day Enterprises | Down 26 percent
Shares of Coffee Day Enterprises remained under pressure on the sudden death of founder VG Siddhartha on July 29 which raised concerns over the company's corporate governance and financials amid rising debts.
Meanwhile, the Coffee Day Enterprises board, on August 8, appointed Ernst & Young (EY) to inspect its books and also look into the circumstances outlined by its deceased founder VG Siddhartha in his purported suicide note.
Siddhartha's body was found on July 29 in the Nethravati river in South India, two days after he went missing, and a note that seemed to have been written by him said he had "failed as an entrepreneur" and talked about pressure from lenders and an investor. It also alleged harassment at the hands of the income tax department.
The promoter group's pledged shares increased to over 80 percent recently from 75.7 percent till July 29, 2019. Given the circumstances, some of the investors have invoked pledged shares of the Coffee Day group to recover a part of their debt.
The board of Coffee Day Enterprises also decided, on August 8, to sell the group’s 90-acre technology park in Bengaluru to reduce the company's debt burden.
Aurobindo Pharma | Up 9 percent
Shares of Aurobindo Pharma rallied after June quarter earnings beat analyst expectations on all parameters.
The company reported a 39.5 percent YoY growth in June quarter net profit at Rs 635.7 crore driven by strong sales growth from the US, Europe and antiretroviral businesses.
Revenue during the quarter grew by 28.1 percent to Rs 5,444.6 crore compared to year-ago with US formulation business growing 42.3 percent and EU formulations segment rising 16.1 percent YoY.
The antiretroviral drug sales doubled to Rs 318.5 crore over the year-ago period. Aurobindo’s net debt dropped 18.3 percent on QoQ basis to Rs 4,093.9 crore.
Venkys | Up 16 percent
Shares of Venkys rose more than 16 percent in the last week after the company reported a 106 percent jump in its June quarter numbers.
The company has reported Q1FY20 net profit at Rs 61.8 crore against Rs 29.9 crore in the quarter of March 2019.
Revenue of the company rose 9 percent at Rs 905.3 crore against Rs 755.6 crore. Other income of the company stood at Rs 8.27 crore versus Rs 9.68 crore.
Minda Industries | Up 12 percent
Minda Industries rose 12 percent in the week ended August 9 despite company posted fall in its June quarter net profit.
The company's Q1 consolidated net profit was down 26.3 percent at Rs 62.3 crore against Rs 84.6 crore, while revenue was at Rs 1,440 crore against Rs 1,430 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up at Rs 172.2 crore, while margin was flat at 12 percent.
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