Overnight Digest: Stocks to watch on January 4, 2019

The stocks most likely to witness significant movement on the bourses on January 4, 2019 are Sun Pharmaceutical Industries, Dena Bank, Vijaya Bank and Bank of Baroda, National Highways Authority of India, Nestle India and ECL Finance.

Sun Pharmaceutical Industries: The company’s wholly-owned subsidiary completed the acquisition of 100 per cent shares of Pola Pharma Inc., Japan. The stock will be monitored on Friday.

Dena Bank, Vijaya Bank and Bank of Baroda: Shares of Vijaya Bank and Dena Bank experienced a drop of 19 per cent during Thursday’s trading session while the shares of Bank of Baroda rose 3 per cent. This fluctuation was on account of the reaction of investors to the swap ratio for the merger between the three banks to be favourable for the latter. The stocks are likely to be in focus on Friday.

National Highways Authority of India: NHAI intends to raise Rs 10,000 crore through Bharatmala Taxable Bonds in the ongoing financial year. The government has approved raising of Rs 62,000 crore by NHAI in 2018-19. The stock will be watched on Friday.

Nestle India: The shares rose more than 4 per cent during Thursday morning’s trading session after the Supreme Court revived the class action suit filed by the Central Government against the company’s Maggi noodles, while setting aside NCDRC order. The stock is likely to remain in focus on Friday.

ECL Finance: The company’s NCD issue successfully mobilized over Rs. 1,000 crore as its retail bucket oversubscribed with a total collection of Rs. 500 crore. The stock will be monitored on Friday.