Overnight Digest - Five stocks to watch out on May 12

The five stocks that may witness some kind of significant movements on May 12 in the markets are: Vedanta,Nestle India/Glenmark Pharma/Dr Reddy's Laboratories, Wipro,Jubilant Life Sciences,National Aluminium Company.

a) Vedanta: Vedanta is creating a Rs. 200 crore fund, Eureka, to fund in-house opportunities for Research and Development (R&D). Eureka is a web based platform to nurture and incubate in-house innovation and technology and is expected to go live on May 30, 2016. The share price of company will be watched out on Thursday.

b) Nestle India/Glenmark Pharma/Dr Reddy's Laboratories: Nestle India, Glenmark Pharma, Dr Reddy's Laboratories will declare their results on May 12. These companies will be in focus during the entire trading session of May 12.

c) Wipro: Wipro has announced a strategic partnership with Etiya, the leading software vendor that provides services to transform the communications and digital service providers’ businesses. This partnership would provide Wipro in depth knowledge of communication service providers. The share price of the company will remain in the limelight on Thursday.

d) Jubilant Life Sciences: Jubilant Life Sciences has announced that one of its wholly-owned subsidiaries, Jubilant DraxImage Inc., and Cyclopharm (CYC) have mutually terminated their previously announced term sheet for exclusive commercial rights of Technegas in the US market. The share price of the company will be in focus on May 12.

e) National Aluminium Company: National Aluminium Company (Nalco) has achieved the rare distinction of becoming the world's cheapest alumina producer. The company’s alumina production cost has fallen to USD 190 a tonne compared to the global benchmark of USD 220-230 per tonne. The share price will be watched out in tomorrow's trading session.