Overnight Digest - Five stocks to watch out on February 16

The five stocks that may witness some kind of significant movement on Feb 16 in the markets are:Biocon, Inox Leisure, JSW Steel, M&M and Vedanta Limited.

a) Biocon Ltd: Biopharma major Biocon has received its first generic formulations approval in the regulated markets for a drug, to reduce cholesterol. The company will begin selling its Rosuvastatin calcium tablets indicated for hyperlipidemia or mixed dyslipidemia in 15 European countries starting financial year 2017. 

b) Inox Leisure Ltd: Inox forays into North East with multiplex in Assam. The new multiplex will include 2 screens and a seating capacity for 277 seats. With the latest addition, Inox now has 416 screens in 106 properties across 57 cities and 19 states in India. 

c) JSW Steel: JSW  Group, whose businesses range from power to steel and cement, is looking to buy distressed  port assets in the country as part of a strategy for a massive expansion of its ports capacity. JSW Steel, in which Japan's No. 2 steelmaker JFE Holdings Inc owns a 15 percent stake; and JSW Energy currently have a combined debt of 550 billion rupees ($8.08 billion). 

d) Vedanta  Limited : Vedanta Ltd has reached an understanding with the Government of Odisha to commission aluminium in Parkin, Jharsuguda. The two sides reached an intention sharing on the sidelines of the Make in India Week in Mumbai today and a MoU would be signed in few months.

e) Mahindra & Mahindra: M&M will be signing another memorandum of understanding (MoU) to invest Rs 8000 crore in the Chakan Phase II expansion plan over a period of 7 years to increase the number of products.