In the Friday’s trading session Nifty hit a record high of 11,283.40 and Sensex touched a record high at 37,368.62.
The Sensex, Nifty, and Bank Nifty managed to end the week at record closing highs. In fact, it is only the 21st time in 2018 that the index managed to clock this milestone, while the Nifty achieved it for the 15th time.
With this upmove, the Sensex has hit a record high in 8 out of past 12 sessions so far. The 30-share index has managed to close above 37,300 after hitting an intraday high of 37,368.4, while the Nifty ended above 11,250 after hitting an intraday record high of 11,283.4.
In the Friday’s trading session Nifty hit a record high of 11,283.40 and Sensex touched a record high at 37,368.62.
During the week the Sensex rose 840 points to close at 37,336.85 and Nifty added 268 points to close at 11,278.
Here is the list of 10 stocks which gained 9-26 percent in the week ended July 27.
Havells India
The share touched its 52-week high Rs 630.55 on July 26, gained 11.5 percent on the back of solid earnings growth in June quarter. The fast-moving electrical equipment maker posted a 73.3 percent YoY rise in its standalone net profit to Rs 210.4 crore for the first quarter beating estimates, on the back of a 39.5 percent rise in total income. (GST rate cut: Consumer durable stocks soar 5-8 percent post-tax-related announcements)
Also, Goods and Services Tax (GST) Council slashed rates on several consumer goods including refrigerators, lithium batteries, vacuum cleaners, grinders, mixers, food processors, water heaters, hair dryers, water coolers, ice cream freezers, scents, perfumes, powder puffs, cosmetics, and electric ironing machines to 18 percent from 28 percent.
South Indian Bank
The share plunged more than 19 percent as investors turned wary of a fall in its net profit. The Kerala-based declared a net profit of Rs 23.04 crore for the first quarter of the financial year 2018-19 as against Rs 101.47 crore during the corresponding period last year.
In a press release, the bank said the reason for the decline in profit was the reduction in the Treasury trading profit by Rs 73 crore and incremental MTM (mark to market) provision in the Treasury Book by Rs 41 crore owing to adverse market conditions, besides incremental one-time employee cost of Rs 33 crore because of increase in gratuity ceiling and wage revision.
L&T Finance Holdings
The share price rallied more than 14 percent after it reported solid earnings growth in June quarter, though the change in accounting method impacted asset quality.
Consolidated profit during the quarter grew by 71.3 percent year-on-year to Rs 538 crore and net interest income increased 51.2 percent to Rs 1,052 crore.
Its net NPAN declined at 3.17 percent in June quarter against 6.13 percent in same period last year
UPL
Shares of agrochemicals company UPL rose 15.5 percent after it announced the acquisition of Arysta LifeScience Inc and its subsidiaries in a USD 4.2 billion all-cash deal.
UPL Corporation, the wholly-owned subsidiary of UPL in Mauritius has signed a definitive pact with Platform Specialty Products Corporation to acquire Arysta LifeScience.
Arysta is a global provider of innovative crop protection solutions, including biosolutions and seed treatment.
Following the acquisition, UPL will enhance its position as a global leader in agriculture solutions with USD 5 billion in combined sales, USD 1 billion in earnings before interest, tax, depreciation, and amortisation (EBITDA) and 20 percent + EBITDA margin pre-synergies.
ACC
The company share surged 18 percent as the company posted a higher-than-expected 1.2 percent rise in second-quarter profit on Monday, helped by a fall in expenses.
Standalone profit was Rs 326 crore ($47.4 million) for the quarter ended June 30, compared with Rs 322 crore a year earlier, the Mumbai-based company said in a statement. Cement sales volume rose 7.4 percent to 7.24 million tonnes in the quarter, it said.
Competition Commission of India had imposed a penalty of Rs 1147.59 crore on the company. On appeal by the company, the National Company Law Appellate Tribunal (NCLAT) in its order passed has upheld the said order.
Idea Cellular
Shares of Idea Cellular gained over 10 percent as investors placed a bet on the company agreed to pay, ‘under protest’, Rs 7,249 crore to DoT for its merger with Vodafone.
However, DoT (Department of Telecommunications) has approved the merger of Vodafone India and Vodafone Mobile Services with Idea Cellular.
The company’s board meeting is scheduled to be held on July 30, to consider and approve the financial results for the first quarter ended June 30, 2018.
Hindalco Industries
The share added 9 percent as the company’s subsidiary is going to acquire a US company for USD 2.6 billion.
The company’s wholly owned subsidiary, Novelis Inc, signed a definitive agreement to purchase Aleris Corporation, a global aluminium rolled products major, headquartered in the United States, for USD 2.58 billion in a debt finance deal. The said acquisition is subject to customary closing conditions and regulatory approvals.
A meeting of the board of directors of the company will be held on August 10, 2018, to consider amongst other items of agenda the unaudited standalone financial results of the company, for the first quarter ended June 30, 2018.
A2Z Infra Engineering
A2Z Infra Engineering share price rallied 26 percent after the company announced a one-time debt settlement with lenders of its subsidiary.
The company approved one-time settlement (OTS) with towards debt settlement at Rs 70 crore.
The company and its subsidiaries have availed financial assistance as term loan from lenders, which is aggregate to Rs 275.94 crore. The company has up to
now, achieved total consolidated debt reduction of Rs 1,001.14 crore.
ILandFS Transportation Networks
Shares of IL&FS Transportation Networks gained 19 percent as the company announced rights issue worth Rs 3,000 crore. The company board at its meeting held on July 27, approved the proposal for issue of equity shares of face value of Rs 10 each to the existing shareholders on a right basis up to Rs 3,000 crore, subject to all applicable statutory and regulatory approvals.
A meeting of the board of directors of the company is scheduled for August 13, to consider and approve the standalone financial results of the company for the quarter ended June 30, 2018
ITC
ITC shares rallied to hit a fresh 52-week high of Rs 307 on July 27, gained 10 percent as brokerage houses remained bullish on the stock after the company started off the financial year 2018-19 on a strong note.
The cigarette-hotel-to-FMCG major has reported profit growth of 10.1 percent year-on-year to Rs 2,818 crore with better growth in FMCG business (cigarette + others).
