Overnight Digest: Stocks to look out on February 25
The stocks that are likely to witness significant movement on the bourses on February 25 are UCO Bank, Dr. Reddy’s Laboratory, PNB, MGN Agro Properties and NBCC.
UCO Bank: Government of India (GoI) has conveyed its decision to release Rs. 3,330 crore to UCO Bank towards the contribution of the Central Government in the preferential allotment of equity shares of the Bank during the financial year 2018-19. The stock will be watched during Monday's trading session
Dr. Reddy: The US Food and Drug Administration (USFDA) has completed the audit at Dr. Reddy's Laboratories’ Formulations Shreveport Plant, Louisiana, USA with zero observation. The shares of the company will be in limelight.
Punjab National Bank: The bank received a capital infusion of Rs. 5,908 crore towards contribution of Central Government in the preferential allotment of equity shares (Special securities/Bonds) of the bank, as Government's Investment. The shares will be in focus.
MGN Agro Properties (MGN): The company has acquired 4,87,185 (0.33 per cent) equity shares of Welspun Enterprises on February 21, 2019 from the open market. The shares of the company will be observed.
NBCC (India): The company has secured two new orders on PMC basis. The first order is for construction of residential accommodation for Institute of Liver and Biliary Sciences (ILBS), New Delhi and second order is for construction of office cum training centre for Central Board of Direct Taxes, Saket, New Delhi. The total estimated costs of these projects are approximately Rs. 168 crore. The shares could experience some momentum.