Overnight Digest – Stocks to look out for on May 20

The stocks which could see a significant movement on May 20 are Just Dial Ltd., Tata Communication Ltd., Tech Mahindra Ltd., Castrol India Ltd., and IDBI Bank Ltd.

a) Just Dial Ltd.: Company on May 20, is expected to declare its Q4FY16 results. The company is in the business of providing information services to its customers. The shares on May 19 have closed at Rs 723.35, down by 2 per cent.

b) Tata Communication Ltd.: Tata Communication has sold its 74 per cent  business to Singapore Technologies Telemedia for Rs 4,221 crores. To build a strategic partnership was the reason behind the divestiture.

c) Tech Mahindra Ltd.: Tech Mahindra, the technological wing of Mahindra group has created a supply chain management system which will reduce food wastage by 15 to 20 per cent. The announcement comes at a time when there are constant efforts to improve food storage and supply.

d) Castrol India Ltd.: Castrol India has got 11 per cent of its stake back from British Petroleum for Rs 2,075 crores. British Petroleum has 70 per cent of stake in Castrol India.

e) IDBI Bank Ltd.: IDBI is set to declare its Q4 results on May 20. The government is planning to privatise IDBI Bank and the process of divestment is likely to be fast-tracked and completed as early as June 30.