Overnight Digest - Five stocks to watch out on February 29

The five stocks that may witness some kind of significant movements on Feb 26 in the markets are: Ultratech Cement, Jai Prakash Associates, Gayatri Projects, Reliance Industries, Bank of Maharashtra, Kajaria Ceramics.

a) Ultratech Cement and Jai Prakash Associates: The deal of Rs 5400 crores between Ultratrech cement and JaiPrakash Associates for the acquisition of later’s business is called off.

b) Gayatri Projects: Gayatri Energy Ventures, a wholly owned subsidiary of Gayatri Projects, along with its joint venture partner Sembcorp Industries, is launching its 2,640 MW Sembcorp Gayatri Power Complex in an inaugural ceremony on Saturday.

c) Reliance Industries: Reliance Industries has emerged as the top company in terms of corporate social responsibility (CSR), having spend over Rs 760 crore, followed by state-owned ONGC and IT giant Infosys. 

d) Kajaria Ceramics: The Union Finance Minister Arun Jaitley in his speech of annual budget on Monday can declare an anti-dumping duty on Ceramics tiles from China.

e) Bank of Maharashtra: The Bank has received a notice from the All India Bank Officers Confederation (AIBOC) informing their decision to go on a one day Strike on February 29, 2016 in support of their various demands and issues. Employees of the Bank belonging to the above referred Workmen Union/ Association may participate in the proposed strike on February 29, 2016, which may affect the normal functioning of the Bank during the day. The above strike is at Industry level and not at Bank level issues.