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Nifty witnessed a growth of 1.7 percent this week. There is no doubt that coronavirus pandemic has wreaked havoc across all major industries. And, the stock market remains to be one of the most affected nations among all. Amid this coronavirus epidemic, many companies experience some major and unexpected movements. Let's have a look at the top 10 stock companies that saw growth this week.
Motherson Sumi Systems – The price took a leap to 54 percent this week. According to the reports, the company has planned to raise an amount equal to INR 1,000 Crore to keep the liquidity going during the unpredictable times. This is especially done to cope with the pandemic times.
Tata Communication – Next up on our list is Tata Communication. The stock price experienced a surge of 41 percent as soon as the company decided to raise approx INR 650 Crore. Tata Communication raised this fund via NCDs i.e. Non-convertible Debentures.
Shriram Transport – While other companies had to shut down, the government allowed Shriram Transport Company to keep functioning during the pandemic times. This led to a growth in the share prices of the company by 34 percent. The order issued on 20th April. Moreover, Shaktikanta clarified that they will start with the repo operations that cost approx INR 50,000 Crore. This amount raised by banks is supposed to be invested in bond organizations. Additionally, half the amount must be used to finance small MFIs and NBFCs.
Oberoi Realty – Oberoi Realty paid off NCDs i.e. Non-convertible Debt before it was scheduled to be paid. The company has paid almost 125 NCDs beforehand. Each non-convertible debenture is worth 10,000,000, which makes the total price of around 125 Crores. Oberoi Realty cleared the debentures along with the interest accrued.
Hindalco Industries – Hindalco experienced a 22 percent growth in its stock price this week. This happened soon after the company bought Aleris Corporation, an aluminum rolled product organization. According to the reports, the deal was settled at $2.8 billion.
Axis Bank – The share price of Axis Bank increased by 22 percent. The brand reported the growth after the Reserve Bank of India (RBI) eased NPA norms.
IndusInd Bank – The Goldman Sachs Singapore Company acquired stocks of IndusInd worth more than INR 176 Crores. This major transaction led to a growth in the stock price of the company by 19 percent. If the research is to be believed, then the Singapore-based company purchased over 14 lakh shares with the average price of each share being INR 430.3
Lupin – Lupin witnessed a growth in its stock price by 16 percent soon after it got EIR from the USFDA. Moreover, the US health regulator approved the EIR for the Nagpur facility of Lupin.
Larsen & Turbo – Larsen & Turbo got its two major contracts signed with NCRTC i.e. National Capital Region Transport Corporation. After the approval of the contracts, the share price of the company jumped by 15 percent.
Metropolis Healthcare – Metropolis Healthcare, the firm approved for coronavirus testing witnessed a downfall in its share price.