Overnight Digest: Stocks to look out for on October 1, 2018

The stocks most likely to witness significant movement on the bourses on October 1, 2018 are Ajmera Realty and Infra India Ltd., Tata Power, Yes Bank, Kitex Garments Ltd., Hindustan Petroleum Corporation Ltd. and Maithan Alloys Ltd. 

Ajmera Realty and Infra India Ltd.: The company announced 5 major international projects – one in Bahrain and 4 in London, at its golden jubilee celebration. It also announced several domestic projects such as a residential project in Rajkot, the launch of Ajmera Nucleus in Bangalore and another project in Mumbai. The stock will be monitored on Monday. 

Tata Power: Coastal Gujarat Power Limited (CGPL), a wholly-owned subsidiary of Tata Motors, has completed refinancing of the outstanding ECB loans amounting to USD 770 million by employing a mix of rupee-denominated debt instruments and equity funding using the proceeds of divestment of the non-core assets of the company. The stock will be watched on Monday. 

Yes Bank: After four consecutive days of reporting a fall, the stock of Yes Bank closed higher in trade today after its board sought a minimum three-month extension beyond January 31, 2019, from the RBI for Managing Director and Chief Executive Rana Kapoor. The stock is likely to be in the limelight on Monday. 

Kitex Garments Ltd.: The company notified the exchange that it has incorporated a wholly-owned subsidiary named ‘Kitex Littlewear Limited’ engaged in the business of selling garments for infants. The stock is likely to be in focus on Monday. 

Hindustan Petroleum Corporation Ltd.: In response to the clarification sought by the exchange, the company has confirmed its launch of packaged drinking water set up at CSIR-IICT Hyderabad as a pilot project. The test marketing is done under the brand name ‘Reminero’. The stock is likely to witness some action on Monday. 

Maithan Alloys Ltd.: The company notified the exchange that CARE had upgraded the rating for its long-term bank facilities to CARE AA Stable from CARE AA – Stable. Also, CARE reaffirmed CARE A1+ rating for its short-term bank facilities. The stock is likely to see some action on Monday.