Overnight Digest: Stocks to look out for on October 16, 2018

The stocks most likely to witness significant movement on the bourses on October 16, 2018 are Pitti Engineering Solutions, Reliance Industrial Infrastructure Limited, Natco Pharma, Avenue Supermarts and Dr. Reddy’s Laboratories. 

Pitti Engineering Solutions: In a press release to NSE, the company reported its Q2FY19 financial results as follows – Total Income of Rs. 175.32 crore increased 108.44 per cent Y-o-Y, EBITDA of Rs. 25.95 crore posted a Y-o-Y growth of 110.46 per cent and total comprehensive income of Rs. 8.06 crore increased 107.73 per cent Y-o-Y. The stock is likely to be in the limelight in tomorrow’s trading session. 

Reliance Industrial Infrastructure Limited: RIIL posted a growth of 5.79 per cent in terms of total revenue which stood at Rs. 25.18 crore in Q2FY19 from Rs. 23.80 crore in Q2FY18. The stock will be watched tomorrow. 

Natco Pharma: The stock gained 6 per cent upon court’ affirmation invalidating the copaxone patents. The stock is likely to be in the limelight in tomorrow’s trading session. 

Avenue Supermarts: Although the company’s revenue rose 39 per cent to Rs. 4,872 crore in Q2FY19 from Rs. 3,507 crore in Q2FY18, the stock price dropped 6 per cent in today’s trading session. The stock will be monitored tomorrow. 

Dr. Reddy’s Laboratories: The company has entered into a definitive agreement for the sale of its active pharmaceutical ingredients (APIs) manufacturing business unit in Hyderabad to Therapiva Private Limited. The stock is likely to be in action in tomorrow’s trading session.