Overnight Digest: Stocks to watch out on May 31

The stocks that are likely to witness significant movement on the bourses on May 31 are Palred Technologies, Natco Pharma, Alkem Laboratories, Sterlite Technologies and Signet Industries. 

Palred Technologies: The company has received an approval for an investment of Rs. 2 crore in a subsidiary company, i.e, Palred Technology Services. 

Natco Pharma: Company has reached a settlement agreement with Onyx Therapeutics, Inc. on patent litigation related to generic versions of 10mg, 30mg and 60mg of Kyprolis. The company has partnered with Breckenridge Pharmaceutical, Inc., who will market the product in the United States. 

Alkem Laboratories: The company has reported a 3-fold jump in its net profit at Rs. 190.82 crore for Q4FY19 as compared to Rs. 59.99 crore for the same quarter in the previous year. Total income of the company increased by 25.99 per cent at Rs. 1,486.91 crore for Q4FY19 as compared Rs 1,180.17 crore for the corresponding quarter previous year. 

Sterlite Technologies: The company has invested in an integrated system to radically shift global customer experiences by building robust planning and delivery processes. 

Signet Industries: Rating Agency Brickwork Ratings lndia Private Limited has rated Signet Industries's Long Term Bank Loan as "BWR BBB+" for Fund based facilities and Short Term Bank Loan "BWR AZ" for Non-Fund Bases facilities.