Overnight Digest: Stocks to watch out for on October 5, 2018

The stocks most likely to witness significant movement on the bourses on October 5, 2018 are ICICI Bank, TVS Motor Company, EROS International, Lupin, and Jet Airways.

ICICI Bank: The MD and CEO Chanda Kochhar sought early retirement which prompted an investigation into the affairs of the company. The actions of the Board will be scrutinized in an attempt to uncover her reasons for early retirement. The shares rose 5 per cent intraday Thursday after the Board accepted her resignation. The stock is likely to be in the limelight in tomorrow’s trading session.

TVS Motor: The company introduced a new vehicle TVS Jupiter Grande for the festive season. The stock will be watched tomorrow.

EROS International: CARE revised the ratings of long-term bank facilities from ‘CARE BBB-; Stable [Triple B Minus; Outlook; Stable]’ to ‘CARE BBB+ [Triple B Plus]’. It also revised the ratings of short-term bank facilities from ‘CARE A3 [A Three]’ to ‘CARE A3+ [A Three Plus]’. The stock will be monitored tomorrow.

Lupin: The company launched Potassium Chloride Oral Solution USP after receiving approval from the USFDA earlier. It is intended to benefit patients whose dietary management with potassium-rich foods and/or diuretic dose reduction is insufficient. The stock will be watched tomorrow.

Jet Airways: ICRA Ltd. downgraded the rating on long-term loans and non-convertible debentures to [ICRA] B (negative outlook) from [ICRA] BB (negative outlook). The hike in jet fuel prices, rupee depreciation and delays in implementation of liquidity initiatives by the company resulted in the downgrade. The stock is likely to be in the limelight in tomorrow’s trading session.