Overnight Digest: Stocks to watch out for on November 12

The stocks most likely to witness significant movement on the bourses are Natco Pharma, Hindustan Aeronautics, Reliance Industries, Amara Raja and Indian Bank.

Natco Pharma: The Board has approved the proposal for buyback of its own fully paid-up equity shares of face value Rs. 2 each, for an aggregate amount of Rs. 2,500 million. The stock is likely to be in the limelight during Monday’s trading session.

Hindustan Aeronautics: The company’s net profit jumped a whopping 326.24 per cent to Rs. 289.42 crore in Q2FY19 from Rs. 67.9 crore last year. Revenue surged 10 per cent to Rs. 2,610 crore as against Rs. 2,373 crore last year. EBITDA rose to Rs. 523 crore from Rs. 125 crore last year, posting a climb of 318.4 per cent. The material cost has dipped 28 per cent. At 3:09 pm, the stock was trading at Rs. 891.00 per share, up 13.13 per cent. The stock will be monitored on Monday.

Reliance Industries: The company raised $800 million by selling 10-year bonds at the lowest ever rate of 3.66 per cent. The proceeds will be used to refinance existing debt by redeeming its existing $800 million 5.875 per cent senior perpetual fixed rate unsecured notes. The stock is likely to witness some action during Monday’s trading session.

Amara Raja: The company reported record growth in revenues for the quarter ended September 30, 2018. Revenue stood at Rs. 1,753 crore in Q2FY19, registering a growth of 23 per cent. It also declared Rs. 2 per equity share on face value of Re. 1 each as interim dividend for the FY 2018-2019. The stock will be watched on Monday.

Indian Bank: The company published its results for the period ended September 2018 as follows. On a YoY basis, deposits increased 10.5 per cent, advances increased 19.50 per cent, CASA grew 7.29 per cent. The total business surged 14.28 per cent and stood at Rs. 3,91,844 crore versus Rs. 3,42,875 crore during the previous year. The stock is likely to be in the limelight during Monday’s trading session.