Overnight Digest: Stocks to watch on December 21

The stocks most likely to witness significant movement on the bourses on December 21 are Next Mediaworks, Oil & Natural Gas Corporation, Vakrangee, Container Corporation of India and Indian Energy Exchange.

Next Mediaworks: The company filed the Scheme of Arrangement and Amalgamation amongst HT Media and Next Radio and HT Music and Entertainment Company and Next Mediaworks. The company is awaiting approval from SEBI. The stock will be monitored on Friday.

Oil & Natural Gas Corporation: The Board approved the buyback of around 25,29,55,974 equity shares at the price of Rs. 159 per share payable in cash for an aggregate amount of nearly Rs. 4,022 crore through a tender offer route. The stock is likely to be in the limelight in Friday’s trading session.  

Vakrangee: The company launched a Domestic Money Transfer service in partnership with Eko India Financial Services, through its nation-wide network of Nextgen Vakrangee Kendras. The stock will be watched on Friday.

Container Corporation of India: The Board recommended the issue of bonus shares in the proportion of one bonus share of Rs. 5 each for every four existing shares of Rs. 5 each, held by the shareholders as on the record date. They’re awaiting approval from regulators and shareholders. The stock is likely to witness some movement in Friday’s trading session.

Indian Energy Exchange: The Board approved the proposal for the buyback of nearly 3,729,729 fully paid-up equity shares of Re. 1 each at a maximum price of Rs. 185 per share payable in cash, adding up to a total consideration of not more than Rs. 69,00,00,000. The stock is likely to be in focus during Friday’s trading session.