Overnight Digest - Five stocks to watch out on March 16

The five stocks that may witness some kind of significant movements on March 16 in the markets are: Thomas Cook, Reliance Capital, Wipro, ICICI Bank, TVS Motors. 

a) Thomas Cook: India’s leading Holiday Lifecycle company, Sterling Holidays, a wholly owned subsidiary of Thomas Cook informed stock exchanges on Tuesday about the acquisition of ‘Nature Trails Resorts’ an adventure holiday company that operates its resorts at five unique destinations. 

b) Reliance Capital: Reliance Capital has informed stock exchanges on Tuesday that the meeting of Board of Directors will be held on 17th March, and will consider and approve transfer of shares to Nippon Life Insurance Company (NLI). NLI has agreed to increase its stake in RCAM from the existing 35 per cent to 49 per cent in two or more tranches. Reliance Capital upon completion of the transaction will receive approximately Rs.1200 crore. 

c) Wipro: Wipro has announced a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems to develop convergent solutions for India’s smart cities.

d) ICICI Bank: ICICI Bank has launched contactless mobile payment solution 'iTap' through which its customers will be able to make payments by waving their cell phones near a contactless merchant terminal.

e) TVS Motors: TVS Motor Company expects its domestic sales of two-wheelers to grow by 10 per cent in the coming fiscal. The company is set to log domestic two-wheeler sales of 1.85 lakh units per month by the end of 2015-16, a growth of about 8 per cent. The vice president, sales and services, J N Srinivasan told PTI.