Overnight Digest: Stocks to watch on January 16, 2019

The stocks most likely to witness significant movement on the bourses on January 16, 2019 are Trident, Network 18 Media & Investments, Indo Rama Synthetics (India), Speciality Restaurants and Zee Entertainment Enterprises.

Trident: The board has approved the third interim dividend of Rs. 1.20 per equity share. The same will be dispatched to the concerned shareholders on February 14, 2019. The stock will be monitored on Wednesday.

Network 18 Media & Investments: The company’s operating revenue surged 20 per cent YoY to Rs. 1,524 crore in Q3FY19 from Rs. 1,267 crore in Q3FY18. Operating EBITDA increased to Rs. 115 crore in Q3FY19 from Rs. 82 crore in Q3FY18, thereby rising 41 per cent YoY. The stock will be watched on Wednesday.

Indo Rama Synthetics (India): The board approved the issuance of 10,02,00,000 equity shares of the Company to the Promoter Group and Non-Promoters by way of preferential basis. The shares will be allotted at a price of Rs. 36 per share or at a price to be determined in accordance with the SEBI (ICDR) Regulations, 2018, whichever is higher. The stock is likely to be in action during Wednesday’s trading session.

Speciality Restaurants: The company’s net profit climbed 1159.70 per cent to Rs. 8.44 crore in Q3FY19 from Rs. 0.67 crore in Q3FY18. The stock is likely to be in focus on Wednesday.

Zee Entertainment Enterprises: The company’s net profit increased to Rs. 603.01 crore in Q3FY19 from Rs. 389.12 crore in Q3FY18, thereby rising 54.96 per cent. The stock is likely to witness movement in Wednesday’s trading session.