Overnight Digest: Stocks to look out for on October 12, 2018

Dnyanada Kulkarni
/ Categories: Trending, Markets
The stocks most likely to witness significant movement on the bourses on October 12, 2018 are Sundaram Clayton Limited, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, Indian Oil Corporation, IDBI Bank, Tata Consultancy Services and Aurobindo Pharma.

Sundaram Clayton Limited: The company inaugurated its new foundry in Tamil Nadu today. It has invested more than Rs. 150 crore in setting up the plant in order to increase capacity to meet accelerating demand. The stock will be watched tomorrow.

HPCL, BPCL, IOC: HPCL, BPCL and IOC were amongst the biggest gainers on the Nifty50 today. This happened because of the sharp fall in crude oil prices. These stocks will be monitored tomorrow.

IDBI Bank: In connection with LIC’s acquisition of 51 per cent controlling stake in IDBI Bank, LIC has issued an open offer for acquisition of 2,04,15,12,929 fully paid-up equity shares of face value Rs. 10 each of IDBI Bank Ltd. The stock will be watched tomorrow.

TCS: The company’s profit rose 22.57 per cent YoY and stood at Rs. 7,901 crore in Q2FY19 in comparison to Rs. 6,646 crore in Q2FY18. Revenue rose to Rs. 36,854 crore in Q2FY19 from Rs. 30,541 crore in Q2FY18. Additionally, the company declared a second interim dividend of Rs. 4 per share payable on October 24. The stock will be monitored tomorrow.

Aurobindo Pharma: The company received an approval from the USFDA for its Azithromycin Oral Suspension 100 mg/5 ml and 200 mg/5 ml. The product will be launched in November, 2018. The stock is likely to be in the limelight in tomorrow’s trading session.
 
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