Overnight Digest: Stocks to watch out on May 29

The stocks that are likely to witness significant movement on the bourses on May 29 are Spice Jet, Hindustan Copper, Sakthi Sugar, Zydus Wellness and Tech Mahindra.

Spicejet: The company has reported a rise of 21.97 per cent in its net profit at Rs. 56.29 crore for Q4FY19 as compared to Rs 46.15 crore for the same quarter in the previous year. Total income of the company increased by 23.67% at Rs 2,571.83 crore for Q4FY19 as compared to Rs 2,079.52 crore for the quarter ended March 31, 2018.

Hindustan Copper: The company has received approval for enhancement in the borrowing limit from existing Rs. 1,500 crore to Rs. 2,500 crore together with interest other than the temporary loans obtained by way of cash credit/working capital arrangements etc.

Sakthi Sugars: The company has received an approval to keep the Modakurichi Factory inoperative during the financial year 2019-20 in view of inadequate availability of sugarcane and to reduce the cost of operations. There will not be any adverse impact on account of this as the entire cane available will be crushed in Sakthinagar Sugar Factory.

Zydus Wellness Limited: The company has informed the Exchange that Board of Directors at its meeting has recommended Final Dividend of Rs. 5 per equity share.

Tech Mahindra: The company has entered into a collaboration with Mitsui Knowledge Industry (MKI) to develop next-generation digital enterprise solutions, in the Japanese market.