Overnight Digest: Stocks to look out for on August 31

The stocks which could witness a significant movement on August 31 are Coal India, Multi Commodity Exchange of India, Steel Authority of India, Indian Oil Corporation and Tata Consultancy Services.

Coal India: The company has announced a buy back of shares not exceeding the value of 10,89,55,223. These will be fully paid up equity shares of FV Rs10/equity share as on record date September 09, 2016 at price of Rs.335. The stock is likely to soar in the coming session.

MCX: Multi Commodity Exchange of India, an electronic commodity futures exchange will release its Q1FY17 results on Wednesday. The stock is likely to remain volatile throughout the day on Aug 31.

SAIL: Steel Authority of India has received the central green panel’s environmental clearance for Rs 5,419-crore expansion and modernisation project at its Rourkela plant in Odisha. The stock may see some upside in the coming session.

IOC: Indian Oil Corporation, yhe oil firm has raised four-fold crude oil import from Iran. The company has contracted to import 5 million tonnes of crude oil in FY2016-17 as against current 1.2 million tonne. The stock will remain in the limelight in Wednesday's session.

TCS: Tata Consultancy Services, the IT major has announced a development of innovative digital solution to connect intelligent LEDs with Smart LEDs and Predix for revolutionising Gas Turbine manufacturing.