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Volatile market ends 1% higher, but 8 stocks gave 8-29% return last week

15 December, 2018 5:47 AM
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Volatile market ends 1% higher, but 8 stocks gave 8-29% return last week

The volatile market ended on positive note with Sensex and Nifty posted 1 percent gain for the week ended December 14, 2018.

The S&P BSE Largecap index rallied 1.32 percent, while S&P BSE Midcap and S&P BSE Smallcap Index rose 3.23 percent and 2.82 percent, respectively.

The Sensex rose 0.81 percent this week, or 289.68 points, to ending at 35962.93, while Nifty was up 1.04 percent, or 111.75 points, to close at 10805.45.

Yes Bank shares gained 8.5 during the week after a media report suggested that Brahm Dutt could be a part-time Non-executive chairman of the lender.

Currently Brahm Dutt is serving as Independent Director of the bank since July 24, 2013.

The company has been awarded a contract for manufacture and supply of 5058 Wagons to Indian Railways. These Wagons are BOXN HL type, designed to carry coal, steel, stones etc. and the value of order is Rs 15,60,87,35,100.

As per the contract, one third quantity (1686 Wagons) is to be supplied within six months and to complete the supply of full quantity of Wagons before 28.02.2020.

The company has appointed Nachiket Deshpande as the chief operating officer w.e.f. December 12, 2018.

Also, company approved the allotment of 99,687 equity shares of face value of Re 1 each under the various Employee Stock Option Schemes of the company.

The company's board meeting is scheduled on December 20 to consider the consent for merger of Kaveri Microteck with Kexveg India both the companies are 100 percent wholly owned subsidiary companies and un-listed non material subsidiaries of the company.

Shares of Max India rallied as much as 29 percent in the last week on a media report indicated that KKR-led Radiant in talks to acquire Max Healthcare.

However, the company clarified that no development has occurred which requires to disclose by the company under SEBI Regulations, 2015.

The company has allotted 2,500 Secured, Redeemable, Non-Convertible Debentures of face value Rs 10 lakh each aggregating to Rs 250 crore on private placement basis with tenor of 18 months.

The company board approved the buyback of up to 29,76,51,006 equity shares being approximately 3.06 percent of the total paid up equity share capital of the company at a price of Rs 149 per equity share payable in cash for an aggregate consideration not exceeding Rs 4,435 crore.

Also, company declared an interim dividend of 67.5 percent i.e. Rs. 6.75 per equity share of face value of Rs 10 each for the financial year 2018-19.

The company received an order from an Israel company for design, development, fabrication and assembly of Rocket Motors.

Source: moneycontrol.com

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