Overnight Digest: Stocks to watch on December 7

The stocks most likely to witness significant movement on the bourses on December 7 are Muthoot Finance, Info Edge (India), Aurobindo Pharma, Wipro and Allahabad Bank. 

Muthoot Finance: The company’s net profit surged 23 per cent to Rs. 975 crore in H1FY19 in comparison to Rs. 791 crore in H1FY18. Moreover, its loan assets posted a growth of 17 per cent YoY and 4 per cent QoQ. The stock is likely to be in action during Friday’s trading session. 

Info Edge (India): The shares of the company rose 2 per cent during Thursday’s trading session after the company agreed to acquire 15.5 per cent stake in Shop Kirana E Trading Private Ltd. to diversify its presence into the new line of business within the internet services industry. The investment of Rs 13.40 crore will be made through its wholly-owned subsidiary. The stock will be monitored on Friday. 

Aurobindo Pharma: The shares of the company closed 5.87 per cent lower on Thursday based on reports of a lawsuit against the company alleging its involvement in selling adulterated Irbesartan products. The stock is likely to be in the limelight during Friday’s trading session. 

Wipro: Wipro Digital and Alresco announced an expanded global partnership to create, build and run open source based digital transformation programmes for its clients across the globe. The stock will be watched on Friday. 

Allahabad Bank: The government is set to infuse Rs. 3,054 crore in the company in exchange for preferential issue of equity shares, subject to approval of shareholders and regulatory authorities. The stock is likely to witness some movement in Friday’s trading session.