Overnight Digest: Stocks to watch on January 22, 2019

The stocks most likely to witness significant movement on the bourses on January 22, 2019 are IRB Infrastructure, Union Bank of India, L&T, Kotak Mahindra Bank and Lupin.

IRB Infrastructure: The company declared an interim dividend of Rs. 3.10 per share for FY18-19, with January 29, 2019 set as the record date. The consolidated PAT dropped to Rs. 52.1566 crore in Q3FY19 from Rs. 64.0634 crore in Q3FY18, thereby posting a de-growth of 18.58 per cent. The stock will be watched on Tuesday.

Union Bank of India: The company reported net profit of Rs. 153 crore in Q3FY19 as against net losses of Rs. 1,250 crore in Q3FY18. EPS improved to Rs. 5.24 in Q3FY19 from Rs. 4.76 in Q3FY18. The stock is likely to witness movement on Tuesday.

L&T: The stock plummeted 3 per cent after SEBI rejected L&T’s proposal to buyback 6.1 crore shares at Rs. 1,475 per share, aggregating to a total of Rs. 9,000 crore. The stock is likely to be in focus during Tuesday’s trading session.

Kotak Mahindra Bank: The company’s net profit rose to Rs. 1,290.93 crore in Q3FY19 from Rs. 1,053.21 crore in Q3FY18, thereby rising 22.57 per cent YoY. Its NII grew 17 per cent in Q3FY19. The stock is likely to be in action on Tuesday.

Lupin: The company received approval from USFDA for its Levothyroxine Sodium Tablets USP, indicated for hyperthyroidism and pituitary thyrotropin suppression. The stock will be watched on Tuesday.