CNBC-TV18's top stocks to watch out for on March 13

SUMMARY

The Indian markets are set to open sharply lower on Friday following a massive sell-off in global risky assets. The Sensex and Nifty plunged into bear territory on Thursday, with the blue-chip Nifty 50 sliding below 9,600-mark to its lowest level in 2.5 years after the coronavirus outbreak was termed a pandemic and the United States suspended travel from Europe. The Sensex also declined around 3,000 points, its lowest in 2 years. At 7 am, the SGX Nifty was trading 773.60 points or 8.10 percent lower at 8,773.00, indicating a negative start for the Sensex and Nifty50.

By CNBC-TV18Mar 13, 2020 7:30:44 AM IST (Published)

State Bank of India (SBI): The SBI board has approved the purchase of 725 crore shares in Yes bank at Rs 10 per share.

Wipro: Company has announced that it will co-develop solutions with SAP for retail and fashion industry.

Sun Pharmaceuticals Industries: The company will consider share buyback on March 17.

BPCL: The company has declared an interim dividend of Rs 16.50 per share.

Cipla: The board has approved payment of interim dividend of Rs 3 per share and one-time special dividend of Re 1 per share.

IIFL Finance: The company has received NBFC license from the Reserve Bank of India on March 11. The merger of its NBFC subsidiary India Infoline Finance with the company will be effective by March 31.

Lakshmi Vilas Bank: The lender has clarified that its liquidity coverage ratio is at a comparable level more than what is prescribed by the Reserve Bank of India (RBI) and it is in the process of recovering NPAs. Further, it said that market rumours are misleading and factually incorrect.

KPI Global Infrastructure: The company has signed a power purchase agreement with Songwon Speciality Chemicals for sale of 1 million-watt solar power for a period of 5 years.

Allahabad Bank: The state-run lender has reduced its MCLR by 5 bps for overnight and one-month tenors, effective from March 14.

Escorts: India Ratings has revised company's outlook to ‘Stable’ from ‘Positive’.

GOCL Corporation: The company has stopped operations at its Hyderabad factory with effect from March 11, that pursuant to the directions of the regulatory authorities.

AstraZeneca Pharma India: The company has received import and market permission from the Drugs Controller General of India for Calquence drug, used for the treatment of leukaemia.