Overnight Digest: Stocks to watch out on May 7

The stocks that are likely to witness significant movement on the bourses on May 7 are TCS, Mahindra CIE Automotive, Asian Oilfield, Alembic Pharmaceuticals and Ceat. 

Tata Consultancy Service: Bank Yahav in Israel has successfully deployed TCS' core banking software suite, TCS BaNCS Digital Platform for Banking and Trading. 

Mahindra CIE Automotive: The company has reported 21.67 per cent rise in net profit at Rs. 46.93 crore for Q4FY19 as compared to Rs. 38.57 crore for the same quarter in the previous year. Total income of the company increased by 6.36 per cent at Rs. 657.38 crore for March quarter as compared Rs. 618.07 crore for the corresponding quarter previous year. 

Asian Oilfield Services: The company’s wholly-owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai has signed the contract with Amni International Petroleum Development to upgrade Amni's existing production facility under the project contract of EPCC. The contract is valued at approximately US$52 million. 

Alembic Pharmaceuticals: The company has informed that Aleor Dermaceuticals (Aleor), a 60:40 Joint Venture between the company and Orbicular Pharma, has received Establishment Inspection Report (EIR) from the USFDA for its facility at Karakhadi, Gujarat. 

Ceat: The stock will be in focus owing to Q4FY19 results to be announced on May 7.