Domestic markets are likely to extend losses to the third consecutive day, amid grim global cues, following Silicon Valley Bank crisis.
The US-equity futures turned positive last evening after regulators sought to backstop all depositers in Silicon Valley Bank
after customers withdrew over $42 billion worth of deposits. Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures retreated up to 1 per cent.
Asia-Pacific markets, however, edged lower this morning, as Nikkei 225, the S&P 200, Kospi, Kosdaq, and Topix indices fell up to 1 per cent.
Meanwhile, back home, here are few stocks likely to see action in Monday’s trade:
Sona BLW: American private equity firm Blackstone is likely to sell complete stake in the auto component maker through block deal on Monday, March 13. According to reports, the floor price has been set at Rs 400 per share.
Mahindra and Mahindra: According to reports, the auto major is likely to sell 4.6 percent stake in automotive component supplier Mahindra CIE Automotive at a floor price of Rs 355 per share, via a block deal.
Jindal Stainless: Managing Director Abhyuday Jindal said that the 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months.
Bank of Baroda: The public sector lender plans to divest 49 per cent stake in credit card subsidiary, BoB Financial Solutions. The bank is aiming at 12-month timeline to bring in a partner for technology,
Vedanta Resources: Global rating agency Moody's downgraded the company's corporate family rating (CFR) from "B3" to "Caa1", on increasing refinancing risk surrounding the holding company.
DLF: The management said that the realty firm is in advanced stage of completing its second commercial project 'DLF Downtown' at an outlay of Rs 3,200 crore in Chennai. Besides, DLF was also looking at a residential project,
Ashok Leyland: The heavy commercial vehicle maker unveiled a new production line that would produce engines at its manufacturing facility in Hosur completely operated by women employees
Tech Mahindra: The IT services player announced appointment of Mohit Joshi as MD & CEO designate. He will take over after CP Gurnani's retirement on December 19, 2023. Joshi, an Infosys veteran
Bank of Maharashtra: The state-owned bank slashed interest rate on home loans to 8.4 per cent from the existing 8.6 per cent
Godrej Properties: The company has acquired land parcel of nearly 28 acres in Bengaluru to develop a mixed-use project,
Zydus Lifesciences: The pharma major received USFDA's nod to manufacture and market Olanzapine Orally Disintegrating Tablets USP in varients of 5 mg, 10 mg, 15 mg, and 20 mg.