Overnight Digest – Five stocks to watch out on March 8

The five stocks that may witness some kind of significant movements on March 8 in the markets are: IDBI Bank, Siemens, Bank of Baroda, Shree Renuka Sugars and Cipla.

a) IDBI Bank: With the Gyan Sangam taking place where the main theme emerging is most likely to be on the lines of mergers and consolidations.

b) Siemens: Capital goods major Siemens in a filing informed the stock exchange about its decision to sell its Healthcare undertaking at Rs 3050 crore. This would help company free up cash and help it to focus on its core business.

c) Bank of Baroda: PSU lender Bank of Baroda is likely to be a gainer of any consolidation taking place in the banking space. Some decision is expected to come from the two-day banking conclave underway.

d) Shree Renuka Sugars: It is likely to remain in focus on Tuesday as international sugar prices have spiked up, therefore helping the company in selling it to export markets and earn higher revenue. Domestically also the prices have soared in the past months.

e) Cipla: Government imposes ceiling on 126 drugs, which makes them cheaper by over 40 per cent therefore hurting the companies like Cipla which derive their major share of revenue from the Indian markets.