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

Nifty gained 0.9 percent during the week which ended on November 27 and formed a Doji pattern on the weekly scale as closing was near the opening level. Experts say directionless trade may continue till the index decisively closes above its intraday record high of 13,145. Here are 10 stocks that were in action this week:

DHFL | The share price gained 27 percent after media reports suggested that lenders to the company are seeking fresh bids and the company's committee of creditors (CoC) may vote on November 25 to decide on it. Weeks ago, media reports quoted suitors for the non-banking finance company raised their offer price in the revised bids submitted for the company. posted a net loss of Rs 2,122.65 crore in the quarter ended September 2020 as compared with a net loss of Rs 6,640.62 crore in the corresponding quarter in the previous year. It had posted a profit of Rs 70 crore in the first quarter. Total revenue from operations rose to Rs 2,204.81 crore from Rs 2,106.74 crore, the company said.

Interglobe Aviation | The share price shed close to 10 percent after research house Citi downgraded the stock to sell from neutral but it raised the target price to Rs 1,400 from Rs 1,300 per share. The stock rally is adequately priced in the gradual improvement in domestic air traffic and IndiGo’s strong market share gains, Citi said. The Government of India said that international flight ban has been extended till December 31 by the Directorate General of Civil Aviation (DGCA) amid the ongoing novel coronavirus pandemic.

Vakrangee | The stock price jumped 28 percent after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment". The company had, in March 2020, filed Scheme Application with National Company Law Tribunal, Mumbai (NCLT) which is presently pending with NCLT to seek appropriate directions.

SREI Infra | The stock price fell over 10 percent after the firm informed that a special audit of the company and its subsidiary, Srei Equipment Finance Limited, is being undertaken by an auditor appointed by Reserve Bank of India. Also, rating agency Brickwork Ratings downgraded long-term ratings of the firm to BB from BBB-. "Brickwork Ratings India Pvt Ltd (Brickwork) has revised the ratings for Perpetual Debt Instrument aggregating to Rs 10 crore of the company," SREI Infrastructure Finance said in a regulatory filing on November 21.

Opto Circuits | The stock was down over 17 percent last week. The company reported net loss to Rs 4.67 crore in the quarter ended September 2020 as against net loss of Rs 1268.64 crore during the previous quarter ended September 2019. Sales declined 55.62 percent to Rs 17.54 crore in the quarter ended September 2020 as against Rs 39.52 crore during the previous quarter ended September 2019.

Laurus Labs | The stock price was up 12 percent after the company said it has signed a definitive agreement to acquire a majority stake in Richcore Lifesciences. "Laurus Labs has signed a definitive agreement to acquire 72.55 percent of Richcore’s shares from Eight Roads Ventures and VenturEast for a value of Rs. 246.7 crore,” the company said. Brokerage firm Motilal Oswal Securities has maintained ‘buy’ rating on Laurus Labs with a target price of Rs 410 per share.

Mahanagar Gas | The stock added 14 percent last week after oil regulator PNGRB simplified the country's gas pipeline tariff structure to make the fuel more affordable for distant users and to attract investment for building gas infrastructure. PNGRB has notified regulations for a 'unified' tariff structure for over a dozen pipelines that form the National Gas Grid which will lead to a 20-30 percent rise in transportation charges paid by users near the source but a reduction for consumers in the hinterland.

Shriram Transport Finance | The share price was up 14 percent last week on expectation of further improvement in collections. According to Motilal Oswal, the recovery in the vehicle finance sector over the past six months has surpassed expectations. The tractor segment has been the best performer, consistently registering a YoY growth for the past few months while 2-wheelers and passenger vehicles have also seen improved traction. Shriram Transport posted a better-than-expected net profit at Rs 685 crore, on the back of net interest income of Rs 2,022 crore and lower-than-estimated provisioning.

IDFC | The stock gained over 24 percent after the Reserve Bank of India’s internal working group suggested raising promoter holding threshold among lenders and changes in ownership structure. The RBI panel proposed that the cap on promoters’ stake, in the long run, may be raised from the current levels of 15 percent to 26 percent of the paid-up voting equity share capital of the bank.

Tanla Platforms | The stock jumped over 27 percent for the week hitting a new record high. On a consolidated basis, Tanla Platforms posted a net profit of Rs 81.47 crore in Q2 September 2020 as against a net loss of Rs 47 crore in Q2 September 2019. Net sales was up 19.7 percent to Rs 583.25 crore in Q2 September 2020 over Q2 September 2019. Massachusetts Institute of Technology (MIT) and Vantage Equity Fund bought stakes in the company via bulk deals. MIT purchased 9.85 lakh shares, or 0.72 percent equity, of Tanla Platforms while Vantage Equity Fund bought 6.85 lakh shares or 0.5 percent equity, of the company, according to bulk data on the BSE.