Overnight Digest: Stocks to watch out for on September 8

On Tuesday, the BSE Sensex ended at 58,279.48 levels, down by 17.43 points or 0.03 per cent, while the Nifty 50 settled at 17,362.10 levels, down by 15.70 points or 0.09 per cent. Apart from the telecom sector, the other sectors ended flat or in red, with the BSE realty index being the weakest performer on Tuesday. The BSE Smallcap and Midcap indices also ended in the red.

Following stocks are likely to be tracked on Wednesday:

Vodafone Idea - Rallying for 6 consecutive days, the stock has gained 14.68 per cent in Tuesday's trading session. It has outperformed the top-performing BSE Telecom index which gained 3.08 per cent on Tuesday. The stock has formed a long green candle along with a decent rise in volumes and was trading above its 20 and 30-day moving averages. Keep a watch on this stock for Wednesday's trading session.

International Conveyors - The company sold 1,34,80,000 equity shares representing 7.95 per cent equity capital of M/s Elpro International out of a total investment of 2,69,60,077 equity shares at a price of Rs 55 per share amounting to Rs 74.14 crore. The stock is up by 1.98 per cent on Tuesday and is likely to be on investors' radar for Wednesday's trading session.

IRCTC - Continuing its rally for the third straight session, the stock of IRCTC has zoomed by 9.56 per cent in Tuesday's trading session. The stock made a fresh 52-week high of Rs 3,305 per share. The company has its 22nd Annual General Meeting (AGM) scheduled on September 29, 2021, which is likely to keep this stock in a buzz for coming trading sessions. 

Dr Reddy's Laboratories - The company announced the launch of the prescription drug Minoxidil topical solution USP 2 per cent and 5 per cent for the treatment of female pattern hair loss (FPHL). The products will be sold under the brand names Mintop TM 2 per cent and Mintop Eva 5 per cent, respectively. Hence, it is likely to be on investors' radar for Wednesday's trading session.

Coffee stocks: The coffee stocks were in a buzz on Tuesday, witnessing buying demand from investors. This can be traced to Robusta coffee futures on ICE touching a four-year peak on Monday due to tightening supplies, while London cocoa futures hitting new six-month highs. The stocks of Tata Coffee rallied as much as 6.4 per cent and CCL Products gained 5.4 per cent on an intraday basis. Watch out for more brewing within the coffee stocks on Wednesday.