Overnight Digest: Stocks to watch on December 18

Overnight Digest: Stocks to watch on December 18

The stocks most likely to witness significant movement on the bourses on December 18 are Godrej Industries, Kotak Mahindra Bank, IDBI Bank, Ashoka Buildcon and Lupin.

Godrej Industries: The board approved the Scheme of Amalgamation of Vora Soaps with Godrej Industries and their respective shareholders, subject to necessary approvals from regulators and shareholders. The stock will be monitored on Tuesday.

Kotak Mahindra Bank: The Bombay High Court rejected the company’s plea for an extension of deadline pertaining to promoter stake dilution. The stock is most likely to be in the limelight in Tuesday’s trading session.

IDBI Bank: The HC rejected the plea filed by the All India IDBI Officers Association in which it opposed LIC’s intention of acquiring 51 per cent stake in IDBI. The stock is likely to be in focus in Tuesday’s trading session.

Ashoka Buildcon: The subsidiary of the company raised Rs. 150 crore from Morgan Stanley India Infrastructure for its city gas distribution (CGD) business Unison Enviro Private Limited (UEPL). The stock will be watched on Tuesday.

Lupin: The company received approval from the USFDA for Clobazam Tablets, 10 mg and 20 mg, which is indicated for the adjunctive treatment of seizures associated with Lennox-Gastaut Syndrome (LGS) in patients aged 2 years and above. The stock will be monitored on Tuesday.