This week the Indian stock market gained over 1 percent where Sensex adding 557.38 points or 1.45% to close at 38,434.72, whereas Nifty settled at 11,371.60 clocking gains of 193.20 points or 1.73 percent.
Aarti Drugs (NSE: AARTIDRUGS)
Over the last week the stock has witnessed close to 48% growth after the Board of Directors (BoD) of the company announced for the issue of Bonus Shares. The BoD in their Board Meeting held on 20 August, 2020, have approved the issuance of fully paid-up bonus shares in the ratio of 3:1. That is, 3 (Three) bonus equity shares of Rs 10 each for every 1 (One) fully paid-up equity share of Rs 10 each held by the shareholders on the record date, the company said in an exchange filing.
NTPC (NSE: NTPC)
The equity scrips of this company had added 20 per cent after the brokerage advisors maintained a buy rating on the stock as the Company has reported it’s results of second quarter, i.e. June. The Company has disclosed a 5.9% 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 like quarter a year ago. CLSA has a buy rating with target at Rs 140 while Morgan Stanley has given an overweight rating with target at Rs 138.
Zee Entertainment (NSE: ZEEL)
The share price has added 19% growth in the portfolio after the Company reported it’s earnings for the second quarter. It has disclosed a 94.28 per cent YoY fall in its consolidated Quarter 1 net profit at Rs 30.37 crore as against Rs 530.57 crore. CLSA has retained a buy call with a target at Rs 255 per share. Morgan Stanley has maintained equal-weight rating and raised the target from Rs 135 to ₹150 per share. Macquarie has maintained an outperform rating with a target at Rs 250 per share.
Adani Enterprises (NSE: ADANIENT)
Post the central government clearance for the award of airports at Jaipur, Thiruvananthapuram and Guwahati for redevelopment to Adani Enterprises, the stock price has gained approx 18 per cent. Prakash Javadekar, the Union minister for information and broadcasting has said that the Airports Authority of India (AAI) will get Rs 1,070 crore upfront from handing over the airports for redevelopment.
PNB Housing Finance (NSE: PNBHOUSING)
On 19 August 2020, the Board of Directors of the listed housing finance company has approved raising equity capital worth Rs 1,800 crore through preferential/rights issue. The stock has gained over 15 per cent post this news.
Birlasoft (NSE: BSOFT)
The share price was up 14 percent after the company entered into a global strategic cloud alliance with Microsoft. On Tuesday, the company declared a global strategic cloud alliance with Microsoft to help its clients to boost up their digital journey. Through this collaboration, Birlasoft is to support its enterprise’s clients with their cloud transformation needs.
Indian Overseas Bank (NSE: IOB)
The Company announced its quarterly report of April-June quarter. With a net profit of ₹121 crore in this quarter as against a net loss of Rs 342 crore for the corresponding period of last fiscal year, the stock has witnessed a bullish trend with 13 per cent of stock growth. Some statistics of the Bank include increase in total deposits 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 stand at Rs 1,412.32 crore in June, 2020 up by 9.61 percent from Rs. 1288.46 crore in June, last year.
Supreme Industries (NSE: SUPREMEIND)
The share price surged 12 per cent after the renowned global brokerage firm, Jefferies maintained a buy call on the stock and raised the target price by 5 percent. The firm has raised the target price to ₹1480 from ₹1410.
Tata Power (NSE: TATAPOWER)
As per the Bombay Stock Exchange (BSE) filing by the company, it 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. Morgan Stanley has given an “over-weight” view on Tata Power with a target price of Rs 62. The stock has added 12 per cent to its portfolio.
IDBI Bank (NSE: IDBI)
The equity share price of IDBI Bank has jumped upto 11 per cent after the Board announced fundraising by issue of shares through various modes post approval from the shareholders. Reuters says that the centre has asked officials to speed up the process of trimming government stakes in the bank.