Top stocks to watch out for on February 27: PSU banks, Jet Airways, Max India, Bharti Airtel

SUMMARY

The Indian market is set for a positive start on Wednesday following its global peers. However, investors remain wary of escalating tensions between India and Pakistan. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Feb 27, 2019 7:48:39 AM IST (Updated)

SBI, Jet Airways: The State Bank of India (SBI) will meet key stakeholders of the beleaguered Jet Airways to take the proposal to convert a part of the company's loans into shares forward and iron-out any difference over the plan, sources told IANS on Tuesday.

Allahabad Bank, Corporation Bank and Dhanlaxmi Bank: The Reserve Bank of India (RBI) has taken three banks out of the Prompt Corrective Action (PCA) framework.

Max India:The company on Tuesday sold a 51 percent stake in Max Bupa Health Insurance Co Ltd (Max Bupa) to private equity firm True North Fund VI LLP for over Rs 510 crore.

Tata Steel: The company's board approved theissue of debt securities, NCDs, worth Rs 4000 crore on a private placement basis.

Future Group Companies: Having diversified into many categories over the years with limited success in some of them, Future Group founder and CEO Kishore Biyani on Tuesday said it was a mistake and the company will now restrict itself to

food, fashion and home furnishings verticals.

Wipro: The National Stock Exchange said, based on the bonus issue in the ratio of 1:3, the adjustment factor for the corporate action shall be 1.3333 and the ex-date for the corporate action shall be March 6.

Action Construction Equipment (ACE): The National Company Law Tribunal approved the company's Scheme of Amalgamation. The scheme sought for amalgamating its subsidiary, FrestedLimited, with the company itself.

Spicejet: The airline will announce new flights under the UDAN scheme today.

MRF: The tyre company, in an exchange filing, said the workers have called off the strike at its Tiruvottiyur plant in Chennai.

Bharti Airtel: The government must price spectrum reasonably and lower various levies to encourage rollout of 5G services in the country at the earliest, Bharti Airtel chairman Sunil Mittal told PTI.

Hotel LeeleventureLimited: The hotelier said JM Financial Asset Reconstruction Company Ltd (JMFARC) has filed an insolvency petition with the Mumbai bench of National Company Law Tribunal (NCLT) against the company.