The market closed strong for the first two days of the week, but the next day was sluggish without any major developments on the global and domestic front. However, on the last day, the bulls again dominated and the benchmark index closed with a gain of 2 per cent. Here we are listing 10 such stocks, which saw a lot of movement in the last week.
indigo paints
Indigo Paints: The stock gained 11 per cent after Motilal Oswal started its coverage with a buy rating. The brokerage said the company has increased the prices of its products by 18-20 per cent in recent months amid rising commodity prices.
RBL Bank
RBL Bank: The stock plunged 26 per cent after the bank wrote off loans worth Rs 300 crore within seven months of sanctioning the loan. According to a newspaper Mint, this was the main reason for the sudden intervention of RBI.
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KPIT Tech
KPIT Tech: The share price registered a gain of 13 per cent after the company raised its revenue and profit outlook for the financial year 2021-22. The company said its revenue growth outlook has increased from 18 to 20 per cent, while the EBITDA margin outlook has been revised upwards to 17.5 per cent. Management said that it is getting strong demand.
Iris Lifesciences
Eris Lifesciences: Initiating coverage of the stock with buy advice by Motilal Oswal, the stock prices rose 10 per cent. The brokerage has given a target of Rs 870 per share with a strength of 20 per cent at the current market price.
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IDFC: IDFC Bank said that its board has appointed IDFC Ltd. and has supported the merger of IDFC Financial Holdings (Promoter Group) with the bank. After this news, the stock registered a good strength of 21 percent.
Sun Pharma
Sun Pharma: The stock recorded a strength of 7 percent during the week. The company had announced that its wholly owned subsidiary has received Emergency Use Authorization (EUA) from DCGI to manufacture and market MSD and Ridgeback’s generic version of mollupiravir under the brand name Moloxvir in India. The company said that it is going to set up an integrated manufacturing unit targeted at exports in Andhra Pradesh.
GMR Infra
GMR Infra: The stock recorded a gain of 7 percent in the past. GMR Group had signed a shareholders agreement with Angkasa Pura 2 of Indonesia on 23 December for the development of Midan Airport. Its effect was visible on the stock.
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Cadila Healthcare
Cadila Healthcare: Last week this stock gained 6 percent. The company’s US arm Zydus Pharmaceuticals (USA) Inc. has received provisional approval from the US health regulator to market generic pimavanserin capsules for the treatment of hallucinations and hallucinations associated with Parkinson’s disease.
Lupine: Shares gained 6 per cent after the company received USFDA approval for oral suspension of sevelamer carbonate. This product will be made at the company’s Goa facility.
inox laser
Inox Leisure: The stock fell 3 percent last week. Multiplex stocks are witnessing selling pressure as states have increased restrictions due to increase in cases of the Omicron variant. The Delhi government has announced several restrictions, the first being the closure of cinema halls and imposing timing limits on malls, markets and restaurants.
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