Top stocks to watch out for on March 11: SBI, DHFL, ICICI Bank

SUMMARY

The Indian benchmark indices are set for a negative start on Monday, tracking weak global cues. Asian shares declined after disappointing US jobs data raised concerns over global economic growth. At 07:37 AM, the SGX Nifty was down 0.11 percent at 11,045.50, indicating a tepid start for the Sensex and the Nifty

By CNBC-TV18Mar 11, 2019 7:59:57 AM IST (Updated)

IDBI Bank: The bank on Sunday said it is considering current MD Rakesh Sharma, for an appointment for a further period of three years as its MD and Chief Executive, besides broadcasting the board to induct professionals and two deputy MDs. (stock image)

State Bank of India: The bank announced that it has linked interest rate on savings account with a balance above Rs 1 lakh and short-term loans to the Reserve Bank of India's (RBI) repo rate, effective from May 1.

Banks: The Reserve Bank of India (RBI) on Friday said it has imposed penalties worth Rs 71 crore on 36 public, private and foreign banks for non-compliance with various directions on time-bound implementation and strengthening of SWIFT operations.

DHFL: Brickwork Ratings India downgraded the company's rating on secured NCDs worth Rs 29,000 crore to AA from AA+ citing degrowth in business.

Oil India: The firm received two oil blocks in Tripura and KG Offshore.

DLF: The realty major plans to raise an estimated Rs 3,000 crore through the sale of equity shares to qualified institutional investors. (stock image)

ICICI Bank, Punj Lloyd: In a setback to engineering and construction firm Punj Lloyd, the National Company Law Tribunal (NCLT) has admitted an insolvency plea against the company filed by ICICI Bank.

JM Financial, Reliance Industries: The Ahmedabad bench of National Company Law Tribunal (NCLT) on Friday cleared Rs 5,050 crore joint bid by Reliance Industries Ltd (RIL) and JM Financial Asset Reconstruction Company to acquire the debt-ridden textile manufacturer Alok Industries.

Jet Airways: The airline, according to Mint, got Rs 2,050 crore credit line from PNB.

Punjab National Bank (PNB): The bank sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal as part of its effort to promote such industries.