Overnight Digest: Stocks to watch out for on November 8

The equity benchmark indices showed a positive opening on Wednesday. They traded in a sideways trend but took a downturn as major global indices traded weak ahead of the Fed policy announcement. 

L&T, Grasim Industries, UPL, UltraTech Cement and Asian Paints were among the major Nifty gainers while the losers included Sun Pharma, IndusInd Bank, Bharti Airtel, Kotak Mahindra Bank and ICICI Bank.

BSE Auto and BSE Bankex slipped 1 per cent each, while realty and capital goods indices rose 2 per cent each. The BSE midcap and smallcap indices ended with marginal losses.

Keep an eye on these stocks for Monday's trading session:

Hindalco Industries - The company announced that its wholly-owned subsidiary, Renuka Investments and Finance has signed a share purchase agreement (SPA) to acquire 100 per cent equity in Ryker Base Private Limited. The enterprise value sums up to Rs 3,230 million. After the debt and working capital adjustments, the purchase consideration is likely to be around Rs 1,670 million subject to adjustment of the final purchase price in accordance with the SPA.

Infosys - The company has announced its strategic collaboration with Shell Global Solutions International BV, as the commercialization partner of the “Shell Inventory Optimizer” solution. Through this collaboration, Shell and Infosys will launch “Shell Inventory Optimizer” as the first product offered to its energy customers.

Eicher Motors - The company declared its Q2FY22 results on Wednesday post the market hours. The revenue from operations zoomed 41.39 per cent on a YoY basis whereas total income improved by 39.53 per cent. The quarter recorded an improvement of 63.62 per cent in net profit after tax.