Overnight Digest- Stocks to look out for on February 7

The stocks which could witness a significant movement on either side on February 7 are Banco Products, JK Tyre, BHEL, Ceat, IDBI Bank, Tata Steel, REC, CBI and Tata Group stocks.

a) Banco Products and JK Tyre: Maker of radiators Banco Products and tyre manufacturer JK Tyre will be reacting to their Q3 numbers on Tuesday.

b) BHEL, CEAT, IDBI Bank and Tata Steel: All eyes would be on these companies as they would be reporting their Q3 earnings on Tuesday.

c) REC: Rural Electrification Corporation (REC) has informed BSE that the company has entered into MoUs with Karnataka Power Corporation and Bangalore Electricity Supply Company for extending financial assistance to the tune of Rs 39,121 crore for the next five years.

d) Central Bank of India: Central Bank of India has informed BSE that a meeting of the Capital Raising Committee of the board of directors of the bank will be held on February 9, 2017, to consider and approve raising of Basel III compliant non-convertible redeemable unsecured Tier 2 bonds up to issue size of Rs 500 crore.

e) Tata Group: The Tata Group stocks would be in focus as the board of directors of Tata Sons in an EGM held voted for the ouster of erstwhile chairman Cyrus Mistry from the position of director in the holding company.