Overnight Digest: Stocks to watch out on May 15

The stocks that are likely to witness significant movement on the bourses on May 15 are NMDC, Edelweiss Financial Services, GIPC, Sharda Cropchem and Almebic Ltd.

National Mineral Development Corporation: The company is in the process of investing about $1 billion on infrastructure in the next three years to help ramp up iron ore production as per news sources.

Edelweiss Financial Services: On the consolidated basis, the company has reported a rise of 15.56 per cent in its net profit at Rs 246.32 crore for Q4FY19 compared to Rs 213.15 crore for the same quarter in the previous year. Total income of the company increased by 13.76 per cent YoY to Rs 2,942.06 crore for Q4FY19 as compared Rs 2,586.17 crore in the corresponding period in the previous fiscal.

Gujarat Industries Power Company: The company emerged as a successful bidder for 100 MW Solar Power Project (Phase III-R) at Raghanesda Solar Park, Gujarat. 

Sharda Cropchem: The company’s board of directors has considered and declared a Final Dividend at the rate of Rs. 2.00 per equity share of face value of Rs. 10.00 each for the Financial Year 2018-19.

Alembic Limited: The company is set to announce its Q4FY19 results on May 15. Stock will be in focus. It closed at Rs. 41.50, up by 2 per cent on Tuesday.