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

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The caution along with consolidation is likely to be expected in the coming week too, with focus on Fed meeting outcome, and macroeconomic numbers (including inflation data from India, the US, Europe and the UK), followed by some kind of recovery in later part of the week, experts say.

December 11, 2022 / 03:56 PM IST

The benchmark indices snapped two-week gains. The BSE Sensex corrected nearly 700 points to 62,182, and the Nifty50 dropped around 200 points to close tad below 18,500, while the Nifty Midcap 100 index was down six-tenth of a percent and Smallcap 100 index declined 1 percent.

The benchmark indices snapped two-week gains. The BSE Sensex corrected nearly 700 points to 62,182, and the Nifty50 dropped around 200 points to close a tad below 18,500, while the Nifty Midcap 100 index was down six-tenth of a percent and Smallcap 100 index declined one percent.

YES Bank | CMP: Rs 19.70 | The stock price jumped over 13 percent last week. The private sector lender received two letters from the Reserve Bank of India pertaining to its deals with CA Basque Investments and Verventa Holdings Limited. The bank plans to engage with the investors to complete its fund raising. “Pursuant to this, the bank shall now engage with the investors for the completion of the proposed capital raise, subject to various regulatory compliances and conditions precedent as per the respective investment agreements,” Yes Bank said.

YES Bank | CMP: Rs 19.70 | The stock price jumped over 13 percent last week. The private sector lender received two letters from the Reserve Bank of India pertaining to its deals with CA Basque Investments and Verventa Holdings Limited. The bank plans to engage with the investors to complete its fundraising. “Pursuant to this, the bank shall now engage with the investors for the completion of the proposed capital raise, subject to various regulatory compliances and conditions precedent as per the respective investment agreements,” Yes Bank said.

Siemens | CMP: Rs 2967 | The share added 7 percent after the engineering company said it emerged as the lowest bidder for manufacturing 1,200 electric locomotives for the India Railways. The cost of the project is reportedly around Rs 20,000 crore. Prime Minister Narendra Modi in April laid the foundation stone for the manufacturing project of 9,000 HP electric locomotives at the railway production unit in Gujarat’s Dahod. Foreign brokerage Macquarie has an “outperform” call on the stock, with a target price of Rs 3,120 apiece. "Dahod order would be substantially higher than current order backlog. We are baking in a 23 percent order inflow CAGR for mobility segment over FY21–25," it said.

Siemens | CMP: Rs 2967 | The share added seven percent after the engineering company said it emerged as the lowest bidder for manufacturing 1,200 electric locomotives for the Indian Railways. The cost of the project is reportedly around Rs 20,000 crore. Prime Minister Narendra Modi in April laid the foundation stone for the manufacturing project of 9,000 HP electric locomotives at the railway production unit in Gujarat’s Dahod. Foreign brokerage Macquarie has an “outperform” call on the stock, with a target price of Rs 3,120 apiece. “Dahod order would be substantially higher than current order backlog,” it said.

Persistent Systems | CMP: Rs 3955.60 | The scrip shed 9 percent after brokerage firm JP Morgan downgraded the Pune-based Engineering, Research & Development firm to neutral. While downgrading the stock, JPMorgan said that it does not see any positive catalyst that can drive a further re-rating on the stock.

Persistent Systems | CMP: Rs 3955.60 | The scrip shed 9 percent after brokerage firm JP Morgan downgraded the Pune-based Engineering, Research and Development firm to neutral. While downgrading the stock, JPMorgan said that it does not see any positive catalyst that can drive a further re-rating of the stock.

Triveni Engineering | CMP: Rs 281.65 | The share price slipped over 7 percent last week. The promoter of Triveni Engineering Industries Ltd Dhruv Sawhney will pare his stake in the company through a secondary placement. This will comprise 17 million shares or a 7.03 percent stake in the company at Rs 280-285 apiece, according to media reports.

Triveni Engineering | CMP: Rs 281.65 | The share price slipped over seven percent last week. The promoter of Triveni Engineering Industries Dhruv Sawhney will pare his stake in the company through a secondary placement. This will comprise 17 million shares or a 7.03 percent stake in the company at Rs 280-285 apiece, according to media reports.

Central Bank of India | CMP: Rs 33.15 | The stock was up 30 percent last week. After incurring losses for six consecutive years (FY16-FY21), Central Bnak returned to profitability in FY22. Furthermore, the bank has been reporting consistent growth in net profit since last six quarters, said LKP Research in its report. "We believe the asset quality hurdles are behind and the bank shall witness gradual improvement in profitability with FY23E ROA/ROE of 0.5%/6.6%. With inexpensive valuation (0.8x PBVPS) we recommend buy. On the back of digital lending platform, we expect the bank’s loan book to fatten cautiously at CAGR of 18% over FY22-24E, led by RAM growth. In our opinion, the bank’s credit cost will normalise (1.4%) by FY23E and estimate return ratio ROA/ROE of 0.5% and 6.6% in FY23E. We value Central Bank at 1xFY24E BVPS to arrive at a target price of Rs 37, it said.

Central Bank of India | CMP: Rs 33.15 | The stock was up 30 percent last week. After incurring losses for six consecutive years (FY16-FY21), Central Bank returned to profitability in FY22. Furthermore, the bank has been reporting consistent growth in net profit in the last six quarters, said LKP Research in its report. “We believe the asset quality hurdles are behind and the bank shall witness gradual improvement in profitability with FY23E ROA/ROE of 0.5%/6.6%. With inexpensive valuation (0.8x PBVPS) we recommend buy. On the back of digital lending platform, we expect the bank’s loan book to fatten cautiously at CAGR of 18 percent over FY22-24E, led by RAM growth. In our opinion, the bank’s credit cost will normalise (1.4 percent) by FY23E and estimate return ratio ROA/ROE of 0.5 percent and 6.6 percent in FY23E. We value Central Bank at 1xFY24E BVPS to arrive at a target price of Rs 37,” it said.

Bajaj Consumer | CMP: Rs 179.70 | The share rose 6 percent in the week gone by. The firm announced Rs 80.89 crore buyback at a price of Rs 240 per share through the open market route. "The indicative maximum number of equity shares proposed to be bought back at the maximum buyback size and maximum buyback price under the buyback would be 33,70,416 equity shares (representing approx. 2.28% which is less than 25% of the total number of equity shares in the paid-up equity capital of the company as of March 31, 2022)," the company said in a regulatory filing.

Bajaj Consumer | CMP: Rs 179.70 | The share rose 6 percent in the week gone by. The firm announced a buyback worth Rs 80.89 crore at a price of Rs 240 per share through the open market route. “The indicative maximum number of equity shares proposed to be bought back at the maximum buyback size and maximum buyback price under the buyback would be 33,70,416 equity shares (representing approx. 2.28 percent which is less than 25 percent of the total number of equity shares in the paid-up equity capital of the company as of March 31, 2022),” the company said in a regulatory filing.

Bank of Baroda | CMP: Rs 188.60 | The scrip added 10 percent after Credit Suisse retained its positive stance on PSU banks. Banks have seen strong profitability, and the global investment bank expects the trend is likely to sustain in the near future. The asset quality is likely to remain benign. Strong industry trends bode well for PSU banks, said the note. It raised the target price for Bank of Baroda to Rs 220.

Bank of Baroda | CMP: Rs 188.60 | The scrip added 10 percent after Credit Suisse retained its positive stance on PSU banks. Banks have seen strong profitability, and the global investment bank expects the trend is likely to sustain in the near future. The asset quality is likely to remain benign. Strong industry trends bode well for PSU banks, said the note. It raised the target price for Bank of Baroda to Rs 220.

Cummins India | CMP: Rs 1523 | The stock price was up over 5 percent last week. The global power solutions provider in collaboration with Tecnimont will help GAIL in setting up a proton exchange membrane electrolyzer for the public sector natural gas company at Vijaipur in Madhya Pradesh, a release said. The facility, said to be one of India largest, is expected to produce 4.3 tonnes of green hydrogen per day, which will be equivalent to around 10 MW of electrical power generation, it said.

Cummins India | CMP: Rs 1523 | The stock price was up over 5 percent last week. The global power solutions provider in collaboration with Tecnimont will help GAIL in setting up a proton exchange membrane electrolyser for the public sector natural gas company at Vijaipur in Madhya Pradesh, a release said. The facility, said to be one of India’s largest, is expected to produce 4.3 tonnes of green hydrogen per day, which will be equivalent to around 10 MW of electrical power generation, it said.

Shriram Transport Finance | CMP: Rs 1344.05 | The scrip added 4 percent in the week gone by. Shriram Transport Finance and Shriram City Union Finance have merged to become Shriram Finance. With a net worth of Rs 40,900 crore and assets under management (AUM) of Rs 1,71,000 crore, Shriram Finance would be a diverse company that serves more than 6.7 million consumers throughout India. The firm announced the appointment of Jugal Kishor Mohapatra as Chairman of the Company and Maya Sinha as an Independent Director.

Shriram Transport Finance | CMP: Rs 1344.05 | The scrip added 4 percent in the week gone by. Shriram Transport Finance and Shriram City Union Finance have merged to become Shriram Finance. With a net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore, Shriram Finance would be a diverse company that serves more than 6.7 million consumers throughout India. The firm announced the appointment of Jugal Kishor Mohapatra as the chairman and Maya Sinha as an Independent Director.

Sterlite Tech | CMP: Rs 168.35 | The scrip shed 5 percent in the week gone by. Sterlite Technologies Group Chief Corporate Officer KS Rao quit the company after a three decade long stint at the homegrown fibre maker.

Sterlite Tech | CMP: Rs 168.35 | The scrip shed 5 percent in the week gone by. Sterlite Technologies Group Chief Corporate Officer KS Rao quit the company after a three-decade-long stint at the homegrown fibre maker.



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