Overnight Digest - Five stocks to watch out on March 23

The five stocks that may witness some kind of significant movements on March 23 in the markets are: Edelweiss Financial Services, Tata Communication, Mahindra and Mahindra, Ashok Leyland, Steel Authority of India.

a) Edelweiss Financial Services: Edelweiss Financial Services (EFS) on Tuesday informed stock exchanges that Edelweiss Asset Management, a wholly owned subsidiary of EFS will acquire JP Morgan’s Mutual Fund business in India.

b) Tata Communications: Tata Communications informed stock exchanges that it has partnered with Anam, the world’s fastest growing application-to-person (A2P) messaging monetisation service provider, to create an end-to-end solution that helps mobile network operators globally to tackle revenue loss caused by A2P SMS spam, fraud and ‘grey route’ messaging traffic. 

c)  Mahindra and Mahindra (M&M): The agri business vertical M&M on Tuesday informed stock exchanges about launch of their branded dairy product-Saboro. It will offer an assortment of product.

d) Ashok Leyland: Ashok Leyland Defence Systems (ALDS), a division of Ashok Leyland, Tuesday said it has selected US-based Lockheed Martin to develop light specialist vehicle and light armoured multi-purpose defence vehicles for armed forces. 

e) Steel Authority of India (SAIL): On Tuesday SAIL informed stock exchanges that credit rating agency CARE has rated CARE AAA rating for its long term borrowing programme.