Day's Digest - Five stocks to watch out on March 10

The five stocks that may witness some kind of significant movement on March 10 in the markets are: State Bank of India, SpiceJet, ONGC, Dalmia Bharat, and Uniply Industries.

a)  State Bank of India: State Bank of India (SBI) gets board approval to raise Rs 5000 crore in debt. The bank raised Rs 4000 crore and Rs 3000 crore in two tranches through issue of debt instruments as part of the Rs 12000 crore fund raising programme.

b) SpiceJet: All the aviation companies will be in focus on Thursday as the government has cut air turbine fuel prices by Rs 515.85 per kilolitre. The fuel cost adds up to almost 80 per cent of total expenditure of aviation companies. Therefore, companies like Spicejet, Interglobe Aviation and Jet Airways will be in focus.

c) ONGC: The cabinet has approved the Ratna and R-Series fields, 130 km south-west of Mumbai for ONGC. The share is in focus throughout the day.

d) Dalmia Bharat: Dalmia Bharat has alloted 75 lakh shares to KKR Mauritius Cement Investments. The company has received approval from the Competition Commission of India (CCI) for the acquisition of 15 percent of share capital of Dalmia Cement Bharat. After the transaction, Dalmia Cement Bharat will become a wholly owned subsidiary of Dalmia Bharat.

e) Uniply Industries: Uniply Industries is going to acquire the plywood & block board manufacturing plant of Euro Decors. The manufacturing plant of Euro Decors is situated at Bhachau, Gujarat and the cost of acquisition has been finalised at Rs 42 crore, which is to be funded by a mix of long term debt and equity.