Domestic markets are anticipated to extend their losses for the third day in a row as a result of the Silicon Valley Bank issue.
This evening, US market futures went bullish as authorities attempted to back up all depositors at Silicon Valley Bank after consumers withdrew $42 billion in deposits. Dow Jones Futures, NASDAQ Futures, and S&P 500 Futures all fell by up to 1%.
The Nikkei 225, S&P 200, Kospi, Kosdaq, and Topix indexes all slid up to 1% this morning in Asia-Pacific markets.
Meanwhile, here are a few stocks that are anticipated to move on Monday:
Sona BLW: On Monday, March 13, US private equity company Blackstone is expected to sell its entire share in the auto component supplier in a block sale. The floor price has been established at Rs 400 per share, according to reports.
Mahindra & Mahindra: According to sources, the automaker is planning to sell a 4.6 percent interest in automotive component supplier Mahindra CIE Automotive in a block offer at a floor price of Rs 355 per share.
Abhyuday Jindal, the Managing Director of Jindal Stainless, said that the 300 MW hybrid project that Jindal Stainless is working on with ReNew is expected to start up in 18 months.Nevertheless, the MD said that the company’s hydrogen project would begin in July of this year.
Bank of Baroda proposes to sell a 49 percent stake in its credit card unit, BoB Financial Solutions. The bank intends to bring in a partner with technology, distribution, and sourcing skills within a 12-month time frame.
Moody’s changed Vedanta Resources’ corporate family rating (CFR) from “B3” to “Caa1” because the holding company faces more risk when it comes to refinancing.Overall, the outlook remains bleak as the company’s refinancing initiatives and dependence on dividend payments erode cash at operational companies.
DLF: The management said that the real estate business is nearing completion of its second commercial project, ‘DLF Downtown,’ in Chennai, at a cost of Rs 3,200 crore. DLF was also considering a residential project on a six-acre plot of land near the Madras Race Course in Guindy.
Ashok Leyland: The heavy commercial vehicle manufacturer revealed a new production line in Hosur that would construct engines entirely by female personnel. The legislation aims to empower women and encourage them to work in the manufacturing business.
Tech Mahindra has announced the appointment of Mohit Joshi as MD and CEO designate. He will succeed CP Gurnani when he retires on December 19, 2023. Joshi has over two decades of expertise in corporate IT software and consulting as an Infosys veteran.
Bank of Maharashtra: The state-owned bank reduced the interest rate on house loans from 8.6 percent to 8.4 percent. Also, it has cut its MSME loan interest rates to 8.4 percent.
Godrej Properties: The business has purchased roughly 28 acres of property in Bengaluru to create a mixed-use project that would include flats as well as retail development. The project is near Whitefield and the Outer Ring Road.
Zydus Lifesciences: The pharmaceutical company gained approval from the USFDA to manufacture and commercialize Olanzapine Orally Disintegrating Tablets USP in dosages of 5 mg, 10 mg, 15 mg, and 20 mg. This medication is used to treat schizophrenia and bipolar disorder.
