Mid-Day stock watch on April 8

Hours since the markets opened today, after a careful observation of stocks' movements and analysis, we find these below mentioned five stocks worth watching during rest half of the day.

a) Ipca Laboratories: Geneva based fund raising entity, The Global Fund has decided not to source any anti-malaria drug from Ipca Laboratories. Meanwhile, the share price of the company has dropped by 14.06 per cent on bourses in early trades on an intraday basis. It received a warning letter from USFDA for its Ratlam (Madhya Pradesh), SEZ Indore (Pithampur) and Piparia (Silvassa) manufacturing units in January on account of data manipulation and other Current Good Manufacturing Practices' (CGMPs) violations.

b) Persistent Systems: Persistent Systems has signed an agreement to acquire assets of PRM Cloud Solutions an Australia based company engaged in SalesForce implementation services. The stock price will be in the limelight for the rest of the trading session.

c) Tata Power: Tata Power’s subsidiary Tata Power International, based in Singapore, has signed an agreement with KS Orka Renewables for the sale of its 50 per cent stake in OTP Geothermal. The company will receive USD 30 million. The company’s share price will be in focus today.

d) Reliance Communications: Reliance Communications will move its five million CDMA customers to Jio's 4G LTE network from May 4. Meanwhile, the users will continue to be RCom subscribers, the network will be powered by Jio's all IP based next generation network. The share price will be in focus for rest of the day.

e) SBI/IDBI Bank/PNB/Bank of Baroda: The newly appointed Bank Board Bureau, headed by former CAG Vinod Rai, will hold its first meeting on April 8, in Mumbai. The members met RBI Governor, Raghuram Rajan along with the Minister of State of Finance, Jayant Sinha before the meeting. There will be discussions on consolidation of public sector banks.