Overnight Digest: Stocks to watch on December 31, 2018
The stocks most likely to witness significant movement on the bourses on December 31, 2018 are Peninsula Land, HT Media, Tata Steel, KIOCL and SAIL.
Peninsula Land: The company is set to acquire 86 per cent of the equity shares of Rockfirst Real Estate Limited, which will make it a wholly-owned subsidiary of the company. Moreover, it has also, through its wholly-owned subsidiary Peninsula Holding and Investment Private Limited (PHIPL), entered into an agreement to acquire 86 per cent equity shares of Goodhome Realty Limited and Truewin Realty Limited, thereby making them both the step-down wholly-owned subsidiaries of the Company. The stock is likely to be in focus on Monday.
HT Media: The company made an open offer for the acquisition of upto 1,73,92,157 fully paid-up equity shares of face value Rs. 10 each, to be acquired at a price of Rs. 27 each. The stock will be monitored on Monday.
Tata Steel: The shares rallied 7 per cent after CARE AA/ Stable rating to the company’s long-term bank facilities term loan of Rs. 21,000 crore. The stock will be watched on Monday.
KIOCL: The government plans to issue a Further Public Offer (FPO) of the company’s shares. The stock is likely to witness action in Monday’s trading session.
SAIL: The company is set to sign a joint venture with ArcelorMittal next month. The stock will be monitored on Monday.