Overnight Digest – Stocks to look out for on August 8

The stocks which could witness significant movement on August 8 are Dhanlaxmi Bank, Britannia/Idea Cellular, Karnataka Bank, Asian Paints and Caplin Point Laboratories.

Dhanlaxmi Bank: CARE has revised Dhanlaxmi Bank’s rating on Upper Tier II bonds of the bank from CARE BB to CARE D. There is no revision in ratings of other bonds of the Bank. The stock will be watched out on August 8.

Britannia/Idea Cellular: Britannia and Idea Cellular will be declaring their Q1FY17 results. The share prices of these companies will be in focus on Monday.

Karnataka Bank:  Karnataka Bank has decided to come out with shares in the ratio of 1:2 for its rights issue. The bank’s share price will be watched out on August 8.

Asian Paints: Asian Paints to alter product mix at its Gujarat manufacturing facility. The company is also increasing its capacity of Tamilnadu plant to 2 lakh KL from 1.4 lakh KL. Its share price will be in the limelight on August 8.

Caplin Point Laboratories: Caplin Point Laboratories’ board of directors has approved the sub-division of existing equity shares of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each. After the announcement, Caplin Point Laboratories will be in focus on Monday.