Tata Global, Bajaj Finance, Jet Airways among 10 stocks which moved the most last weekLili | May 18, 2019 | 0 | Finance
The benchmark indices ended positive for the week ended May 17 amid a mixed set of earning from India Inc, Lok Sabha Elections 2019 and muted global cues.
After remained under pressure for the first three days of the week the indices recovered from the lows ahead of Lok Sabha election outcome due on May 23.
In the last week, the S&P BSE Midcap index shed 0.57 percent, Smallcap Index fell 1.55 percent, while S&P BSE Largecap Index was up 0.84 percent in the week gone by.
Here are 10 stocks which moved the most during last week:
Tata Global Beverage | Up 18
The company approved the scheme of arrangement amongst Tata Chemicals and Tata Global Beverages and their respective shareholders and creditors.
Tata Chemicals (TCL) will transfer its consumer products business to Tata Global Beverages (TGBL), according to a May 15 release filed with the exchanges.
According to the scheme, each shareholder of Tata Chemicals will get 1.14 new equity shares of Tata Global for every 1 equity share held in Tata Chemicals, meaning that a shareholder holding 100 shares in TCL will receive 114 shares in TGBL.
Jet Airways | Down 18 percent
Etihad Airways was the only shortlisted suitors out of the four which submitted a non-binding bid for cash strapped airline. Etihad Airways holds 24 percent stake in Jet Airways.
“Etihad has been working consistently with key stakeholders in India over the past 15 months to help find a solution which would ensure Jet’s return as a viable and competitive Indian airline, and continues to do so,” CNBC-TV18 reported citing Etihad.
The other three contenders are TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF).
Bajaj Finance | Up 13 percent
The company reported a 57 percent jump in its Q4FY19 consolidated net profit at Rs 1,176 crore against Rs 748 crore in a year ago period. Net interest income (NII) was up 50 percent at Rs 3,395 crore versus Rs 2,265 crore.
Net NPA of the company was at 0.63 percent, while Gross NPA stood at 1.54 percent, QoQ.
It loan losses and provisions declined to Rs 409 crore from Rs 454 crore, QoQ.
Phoenix Mills | Up 3 percent
The company’s profit after tax (PAT) has increased by 147 percent at Rs 228.4 crore, revenue from operations was up 66 percent at Rs 723.3 crore and EBITDA was up 74 percent at Rs 377.1 crore, YoY, as per company press release.
The board of directors of the company considered and recommended a final dividend at 150 percent per share i.e. Rs 3 per equity share of face value of Rs 2 each for the financial year 2018-19.
Lupin | Down 10 percent
The pharma major posted a consolidated profit after tax of Rs 296 crore, which fell short of analyst estimates.
In a separate report, the drugmaker said it has received three observations from the US health regulator for its Aurangabad-based manufacturing facility.
The US Food and Drug Administration (USFDA) carried out the inspection at the plant from May 6 to May 15, Lupin said.
CLSA maintained its sell rating on Lupin after the announcement of March quarter results, slashing its target price further to Rs 700 from Rs 730 earlier.
Central Bank Of India | Down 10 percent
The company’s Q4FY19 net loss widened to Rs 2,477.4 crore against Rs 2,113.5 crore in the same quarter last fiscal.
Net interest income (NII) of the company was up 6.8 percent at Rs 1,602 crore against Rs 1,499.9 crore.
Its gross NPA was down at 19.29 percent, while net NPA was down at 7.73 percent, QoQ.
For the full fiscal, the bank’s loss widened to Rs 5,641.48 crore, as against Rs 5,104.91 crore in the preceding fiscal. Income during the year also fell to Rs 25,051.51 crore from Rs 26,657.86 crore year earlier.
Spencer Retail | Up 10 percent
Spencer’s Retail announced the acquisition of premium grocery and fresh fruits store Nature’s Basket from Godrej Industries for Rs 300 crore.
Spencer’s will acquire NBL’s entire share capital comprising 445,830,000 fully paid-up equity shares of Rs 10 each.
The Board has fixed May 22 as the cut-off date for the purpose of determining the eligibility of shareholders for voting via postal ballot.
SRF | Up 14 percent
The company has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences company in an all-cash transaction, amounting to Rs 320 crore.
IDFC First Bank | Down 15 percent
IDFC First Bank reported a loss of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding period of the last fiscal on account of higher provisioning.
For FY19, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing.
The bank’s gross NPAs stood at 2.43 percent of the gross advances during the January-March quarter of 2018-19, down from 3.31 percent in the corresponding period of the last fiscal.
Delta Corp | Down 22 percent
The share price was under pressure due to a news report emerged that DG GST Intelligence has booked two Goa companies, including Delta Corp, for Rs 6,189 crore evasion.
Both companies evaded GST by camouflaging a mixed supply of services. The companies paid GST by artificially splitting values of services. GST was paid on net revenue of casino instead of Face Value of bet.
Government is in talks with the companies to recover evaded GST.
However, Delta Corp in a BSE release said, “We are in compliance with GST Laws and have not evaded any GST.”