Overnight Digest - Five stocks to watch out on March 8
Mayuresh Deshmukh / 07 Mar 2016
The five stocks that may witness some kind of significant movements on March 8 in the markets are: Apollo Tyres, Indiabulls Group, Hindustan Petroleum Corp Ltd (HPCL), Alkem Laboratories, Tata Motors, Bharat Forge.
The five stocks that may witness some kind of significant movements on March 8 in the markets are: Apollo Tyres, Indiabulls Group, Hindustan Petroleum Corp Ltd (HPCL), Alkem Laboratories, Tata Motors and Bharat Forge.
a) Apollo Tyres: Apollo Tyres will invest up to USD 600 million (about Rs 4000 crore) next fiscal to enhance capacity at its plants in India and abroad. The company, announced its foray into the two-wheeler market, which will start rolling out tyres from its upcoming plant in Hungary by January 2017.
b) Indiabulls Group: Mortgage lender Indiabulls Housing Finance and its group company, Indiabulls Real Estate will invest Rs 25,000 crore in Haryana over the next seven years. The group has entered into a Memorandum of Understanding with the government of Haryana for the same.
c) HPCL: State owned HPCL plans to invest Rs 45,000 crore by 2020 in expansion of its Mumbai and Vishakhapatnam refineries as well as augmenting its marketing infrastructure. While Rs 21,000 crore would be invested in refining capacity expansion, Rs 9000 crore would be spent in marketing infrastructure till 2020. A total of Rs 14,000 crore would go into joint venture refinery projects, natural gas business and upstream oil exploration.
d) Alkem Laboratories: Drug firm Alkem Labs informed stock exchanges that one of its manufacturing plants in Mandva, Gujarat has obtained the Establishment Inspection Report (EIR) "approval" from US health regulator USFDA. The plant manufactures Active Pharmaceutical Ingredients (APIs) and was inspected by the USFDA in September 2015.
e) Tata Motors and Bharat Forge: Auto major Tata Motors today announced a tri-partite partnership with Bharat Forge and US-based General Dynamics Land Systems (GDLS) to bid for India's Rs 50,000-crore Future Infantry Combat Vehicle (FICV) project. Tata Motors will lead the consortium with Bharat Forge as a partner, while General Dynamics Land Systems (GDLS) will bring in its much-proven expertise in-combat vehicle platforms, into the association.
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