Stocks to watch: IDBI Bank, M&M, Prestige Estates, SBI Life, Quick Heal

Nifty futures on the Singapore Exchange traded at 15,387 as against Wednesday’s close of 15,209, indicating a firm start for Indian on Friday.

Here are key stocks that are likely to sway the market today:

IDBI Bank: The bank has been taken out of PCA framework by the RBI. The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis.

JSW Steel: The company posted a marginal decline of 1 per cent in its crude steel output at 13.06 lakh tonnes (LT) in February this year.

Max Healthcare: The company has raised Rs 1,200 crore via qualified institutional process.

Quick Heal Technologies: The board has approved buyback of 63.26 lakh shares for up to Rs 1,550 crore at a price of Rs 245 per share.

REC, PFC: REC Ltd and Power Finance Corporation (PFC) have entered into a pact with Bhutan-based Kholongchhu Hydro Energy Ltd (KHEL) to finance a 600-megawatt hydroelectric project at Trashiyangtse in the neighbouring country.

Wipro: The IT major has appointed Pierre Bruno as Chief Executive Officer of its European operations.

M&M: (M&M) has got a green signal from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor, putting the sale process with the potential investor on fast track, according to this report. READ HERE

Insurance stocks: Shares of insurance companies are likely to be in focus today after the cabinet approved changes to the Insurance Act for increasing the foreign direct investment (FDI) limit to 74 per cent from the present 49 per cent.

SBI: State Bank of India (SBI) will conduct e-auctions of 12 bad accounts this month to recover dues of over Rs 506 crore under sale to asset reconstruction company (ARC) mechanism.

Cholamandalam, Karur Vysya Bank: Cholamandalam Investment and Finance company has inked a partnership with private sector Karur Vysya Bank Ltd for co-lending business, eyeing to garner a larger market share across segments, the companies said on Thursday.

Projects: The company has completed sale of commercial assets worth Rs 7,467 crore to global investment firm Blackstone in the first round of divestment.

India Glycols: Swiss chemicals major Clariant AG has formed a 51:49 joint venture with Bhartia family-promoted India Glycols to manufacture and market renewable ethylene oxide (EO) derivative products.

Infosys: Infosys BPM, the business process management arm of Infosys, on Thursday announced a five-year extension of its strategic collaboration with Newmont Corporation to standardise and digitise delivery models across the latter’s mine sites.

SBI Life Insurance: BNP Paribas is looking to sell 3.5 crore shares of the company through an accelerated placement, according to Bloomberg. The shares are being offered at a price range of Rs 870 – Rs 917 per share, representing a discount of 2.5 per cent-7.5 per cent to Wednesday’s closing price, the report added.

NBCC India: The company has received contracts for construction of cooling tower (NDCT) CT-1, 3 and 5 for Yadadri Thermal Power Station, (5×800 MW) owned by Telangana State Power Generation Corporation.

JK Tyre & Industries: CARE has revised outlook on company’s long term bank facilities to stable from negative and retained rating at A-.

AstraZeneca Pharma India: The company has received marketing approval from the Drugs Controller General of India (DCGI) for its product for the treatment of non-small cell lung cancer.

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