Overnight Digest - Five stocks to watch out on March 1

The five stocks that may witness some kind of significant movements on March 1 in the markets are: IDBI Bank, ITC, SBI, PVR, CMI Ltd.

a) IDBI Bank: Union Finance Minister Arun Jaitley said in his Budget speech on Monday that the government has started the process of transformation of IDBI Bank and will look at bringing down government's stake in the bank to a level below 51 per cent.

b) ITC: Stock of ITC along with other tobacco stocks tanked up to 7 per cent after Finance Minister Arun Jaitley announced a 10-15 per cent hike in excise duty of tobacco products in Budget 2016. The hike, however, was in-line with the analysts' expectations. The stock can also see some movement on Tuesday.

c) State Bank of India (SBI): SBI with other banks can see some movement tomorrow as government in its Union Budget allocated Rs 25000 crores for reforming of banks, which is below expectations of analysts.

d) PVR Ltd: PVR has informed BSE that the company has been assigned rating on Bank Loan Facility & Non-Convertible Debentures by ICRA. The rating assigned for the company's bank credit facilities is ICRA AA. The outlook is stable.

e) CMI Ltd: CMI a speciality manufacturing company today announced the completion of acquisition of General Cables Energy India, a fully owned subsidiary of General Cable Corporation (GCC) a fortune 500 company.