Overnight Digest: Stocks to watch on January 18, 2019
The stocks most likely to witness significant movement on the bourses on January 18, 2019 are Olectra Greentech, Hindustan Unilever, UCO Bank, Federal Bank and Cyient.
Olectra Greentech: The company made an open offer for the acquisition of up to 2,37,06,992 equity shares from public shareholders of Olectra Greentech Limited by MEIL Holdings Limited (acquirer) together with Megha Engineering & Infrastructures Limited (PAC). The stock is likely to be in action during Friday’s trading session.
Hindustan Unilever: The company’s profit after tax increased to Rs. 4,498 crore in Q3FY19 from Rs. 3,886 crore in Q3FY18, posting a growth of 15.74 per cent. The EPS reached Rs. 20.78 in Q3FY19 from Rs. 17.95 in Q3FY18. The stock will be watched on Friday.
UCO Bank: The bank's board approved the issue of equity shares on a preferential basis to the Government of India in exchange for capital infusion of Rs. 3,076 crore; the raising of capital worth Rs. 1,000 crore through Qualified Institutions Placement and raising Tier-II capital upto Rs. 500 crore. The stock is likely to be in focus on Friday.
Federal Bank: For Q3FY19, the company’s operating profit rose 26.08 per cent, CASA records increased 23.62 per cent, advances grew 24.61 per cent, core retail and corporate advances climbed 31 per cent each and other income rose 51.14 per cent. The stock is likely to witness movement in Friday’s trading session.
Cyient: The company’s PAT soared to Rs. 92.5 crore in Q3FY19 from Rs. 87.8 crore in Q3FY18, thereby rising 5.35 per cent. EPS climbed to Rs. 8.16 in Q3FY19 from Rs. 7.80 in Q3FY18. The stock will be monitored on Friday.