10 stocks that moved the most this week
The stocks in the Indian stock market gained around 1 percent last week with Sensex adding 557.38 points to close at 38,434.72, however Nifty settled at 11,371.60 clocking gains of 193.20 points or 1.73 percent.
Here are the top 10 movers and shakers of the week
Aarti Drugs - After the Board of Directors approved the issuance of a fully paid-up bonus share this stock surged over 48 percent for the week. A meeting was held on August 20 between the Board of Directors where they have approved the issuance of fully paid-up bonus shares in the ratio of 3:1.
NTPC- On August 14, the company reported a 5.9 percent year-on-year (YoY) fall in consolidated net profit to Rs 2,948.94 crore in Q1 FY21 against Rs 3,132.73 crore in the corresponding period around 4 months ago.
Zee Entertainment- After the company reported its June quarter earnings the stock price gained around 19 percent. The company on August 18, has posted 94.28 percent YoY fall in its consolidated Q1 net profit at Rs 30.37 crore versus Rs 530.57 crore. CLSA has retained a buy call with a target at Rs 255 per share.
Adani Enterprises- After the central government cleared the award of airports at Jaipur, Thiruvananthapuram, and Guwahati for redevelopment to Adani Enterprises the share price added over 18 percent.
PNB Housing Finance - The stock gained over 15 percent after the board on August 19 approved raising equity capital worth Rs 1,800 crore through preferential/rights issue, the company said in an exchange filing.
Birlasoft - After the company entered into a global strategic cloud alliance with Microsoft the share price increased upto 14 percent. The company announced a global strategic cloud alliance with Microsoft to help its clients to accelerate their digital journey on August 18.
Indian Overseas Bank - The stock price gained 13 percent after the bank posted a net profit of Rs 121 crore in April to June quarter as against a net loss of Rs 342 crore for the corresponding period of last fiscal year. Total deposits increased to Rs 2.25 lakh crore as against Rs 2.21 lakh crore but gross advances declined to Rs 1.31 lakh crore from R 1.47 lakh crore in the same period. Net Interest Income (NII) stood at Rs 1,412.32 crore in June 2020 up 9.61 percent from Rs. 1288.46 crore in June 2019.
Supreme Industries- The share price was up 12 percent after global brokerage firm Jefferies maintained a buy call on the stock and raised the target price by 5 percent. Jefferies maintained a buy and raised the target price to Rs 1,480 from Rs 1,410.
Tata Power - After the company told the BSE of its plan to be one of the top two energy companies in India the share price got a hike of 14 percent. The company, as per a BSE filing, plans to expand distribution footprint nationally, leverage technology to expand rooftop solar and solar pumps, and create innovative, low-carbon solutions for customers through ESCO, home automation, and EV charging.
IDBI Bank - The stock price added 11 percent after the bank announced fundraising of Rs 11,000 crore by issuing shares through various modes after receiving the go-ahead from the shareholders. The center has asked officials to speed up the process of trimming government stakes in the bank, Reuters reported.