Overnight Digest: Stocks to watch on November 30
The stocks most likely to witness significant movement on the bourses on November 30 are JSW Steel, HUDCO, Indian Energy Exchange, IVP and HUL.
JSW Steel: The board approved the Scheme of Amalgamation of Dolvi Minerals and Metals Private Limited (DMMPL), Dolvi Coke Projects Limited (DCPL), JSW Steel Processing Centres Limited (JSPCL) and JSW Salav with JSW Steel. The stock will be monitored on Friday.
Housing and Urban Development Corporation (HUDCO): The company raised funds of Rs. 2,050 crore through issue of government of India fully-serviced, unsecured taxable bond series – II 2018. The proceeds from the same were utilized for lending to Building Materials and Technology Promotion Council (BMTPC). The stock is likely to witness some movement in Friday’s trading session.
IVP: CRISIL has downgraded the credit rating of long-term bank facilities from ‘CRISIL BBB/Stable’ to ‘CRISIL BBB-/Stable’. CRISIL also downgraded the credit rating of short-term bank facilities from ‘CRISIL A3+’ to ‘CRISIL A3’. The share will be monitored during Friday’s trading session.
Indian Energy Exchange: IEX trades 3.88 lakh RECs during the trading session on November 28. The trading session saw a decline of 79 per cent on a YoY basis and 9 per cent on MoM basis. The stock will be monitored on Friday.
Hindustan Unilever (HUL): The company is leading in the race for acquiring GSK’s Horlicks business. The stock was up 2 per cent at the end of Thursday’s trading session. It will be watched on Friday.