Overnight Digest - Five stocks to watch out on March 3
Mayuresh Deshmukh / 02 Mar 2016
The five stocks that may witness some kind of significant movements on March 3 in the markets are: TCS, HCL Technologies, Magnum, Bharat Forge, SBI, ICICI, HDFC, and other PSU Banks
The five stocks that may witness some kind of significant movements on March 3 in the markets are: TCS, HCL Technologies, Magnum, Bharat Forge, SBI, ICICI, HDFC, and other PSU Banks.
a) Tata Communication Services (TCS): TCS and GE Digital have entered into a strategic alliance to expand the industrial internet through digital reimagination.
b) HCL Technologies: HCL Technologies has signed a five year next-generation information technology industry contract with Husqvarna AB, a leading manufacturer of outdoor power products.
c) Magnum Ltd: Magnum Ltd has informed stock exchanges that the company at its meeting held on March 02, 2016, has considered the acquisition of 100 per cent share holding of Scorpio Energy Resources; Topaz Energy Resources; Scorpio Logistics and Warehousing; and Topaz Solar.
d) Bharat Forge: State owned Life Insurance Corporation (LIC) has hiked its stake in component maker Bharat Forge.
e) SBI/ICICI/HDFC/Other PSU Banks: According to rough estimates RBI move is likely to free up as much as Rs 3,50,000 crore in capital of public sector banks, helping them boost buffers while complying with a deadline set to clean up their balance sheets in due course of time.
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