The stock market on Wednesday, March 10, gave a positive ending by gaining around 0.50 percent while it remained closed on Thursday, March 1, on the occasion of Maha Shivratri. The market indices on Friday, March 12, are expected to give a negative or flat start as the SGX Nifty was trading 3.50 points or 0.02 percent lower at 15,415.50 at 7:10 am. On March 10, the BSE Sensex witnessed a gain of 254.03 points or 0.50 percent to close at 51,279.51. Similarly, the NSE Nifty surged 76.40 points or 0.51 percent to settle the day at 15,174.80.
Top stocks to look for the day are:
IDBI Bank: The Reserve Bank of India (RBI) has taken IDBI bank out of the Prompt Corrective Action (PCA) framework. A written commitment has also been provided to the bank which states that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis.
JSW Steel: In February 2021, the company reported a decline of 13.06 lakh tonnes in crude steel production compared to 13.20 lakh tonnes in the same month last year.
Quick Heal Technologies: Buyback of 63.26 lakh shares has been approved by the board of the company for an aggregate amount of Rs 155 crore at Rs 245 per share.
PSU Banks: A call for a two-day strike from March 15 has been announced by the United Forum of Bank Unions (UFBU) to protest against the proposed privatisation of two state-owned lenders.
SBI: E-auctions of 12 bad accounts will be conducted by the bank this month to recover dues of over Rs 506 crore under sale to asset reconstruction company mechanism.
Mahindra and Mahindra: The reports of laying off 300 employees have been announced baseless and purely speculative by the company.
ONGC: A share purchase and share agreement have been signed by the company with IGX and IEX to acquire 5 percent equity stake in IGX.
Wipro: Pierre Bruno has been appointed by the company as its Chief Executive Officer (CEO) for Europe.
GAIL India: Payment of the second interim dividend for FY 2020-21 will be considered by the company on March 15.
Max Healthcare: Rs 1,200 crore has been raised by the company through Qualified Institutions Placement.
Prestige Estates Projects: Phase 1 of the proposed transaction with Blackstone Group has been completed by the company. While the expected time to complete phase 2 of the transaction is by the end of next quarter.
Pricol: Company's long term – fund based and term loan rating has been revised by ICRA to BBB from BB+, with a stable outlook.
NBCC India: The company has backed the contracts for the construction of cooling tower (NDCT) CT-1, 3 and 5 for Yadadri Thermal Power Station, (5×800 MW) which is owned by Telangana State Power Generation Corporation.
AstraZeneca Pharma India: Import and market permission in form CT-20 has been received by the company from the Drugs Controller General of India for Osimertinib 40mg/80mg film-coated tablets (TagrissoTM).