Overnight Digest: Stocks to watch on December 15
The stocks most likely to witness significant movement on the bourses on December 15 are Aditya Birla Capital, Indian Oil Corporation, Bharti Airtel, Vodafone Idea, Gujarat Ambuja Exports and Jet Airways.
Aditya Birla Capital: The company merged with its wholly-owned subsidiary Aditya Birla Commodities Broking Limited. The stock will be monitored on Monday.
Indian Oil Corporation: The board approved a proposal for the buyback of 29,76,51,006 equity shares of Rs. 10 each representing 3.06 per cent of the total paid-up capital at a price of Rs. 149 per share. The stock is likely to be in focus during Monday’s trading session.
Bharti Airtel and Vodafone Idea: The shares of these companies surged 9.97 per cent and 8.02 per cent respectively after the tribunal TDSAT struck down TRAI’s new rules on predatory pricing. The stocks are likely to be in the limelight on Monday.
Gujarat Ambuja Exports: The company has decided to set up a greenfield plant at Malda, West Bengal for 1,000 TPD maize processing at a cost of around Rs. 300 crore. The stock is likely to witness some movement in Monday’s trading session.
Jet Airways: SBI has ordered a forensic audit of the company from April 1, 2014 to March 31, 2018. Until the submission of the said report, SBI is not likely to consider the company’s request for debt restructuring. The stock is likely to be in the limelight during Monday’s trading session.