Overnight Digest: Stocks to keep on your radar for February 25
Sensex witnesses one of the biggest market crashes in history as Russia invades Ukraine.
The equity markets were attacked by the bears on Thursday with Sensex crashing 2,702.15 points and Nifty tumbling 815.30 points.
Beyond a 3 per cent decline in benchmark indices in the initial hours of the opening bell, eroding investors' wealth by over Rs 10 lakh crore, has made Sensex witness one of the biggest market crashes in history as Russia invades Ukraine.
All the sectoral indices ended with a loss of 3-8 per cent, while BSE midcap and smallcap indices shed over 5 per cent each.
Keep a watch on these stocks for Friday's trading session -
Dr Reddy's Laboratories - The shares of the company hit a 52-week low of Rs 4,055.85 per share, down 3 per cent on the BSE on Thursday, after Russia ordered military operations in Ukraine and reports emerged of blasts in some major Ukrainian cities. The company has a significant presence in the Russian market and the stock has dipped below its previous low of Rs 4,135.90 made on March 19, 2021.
PB Fintech - The company's share hit a new low at Rs 620.90, slipping 8 per cent in Thursday's trading session. Over the past 2 weeks, the stock has dipped 28 per cent after Yashish Dahiya, executive director and CEO, and Alok Bansal, whole-time director and CFO, of PB Fintech, sold 6.09 million shares of the company via secondary market sale. The benchmark indices have crashed beyond 4.5 per cent on Thursday but PB Fintech has closed 3.57 per cent lower in the trading session.
Bharat Forge - Bharat Forge has entered into a definitive agreement to acquire JS Autocast Foundry India Private Limited. To quote Amit Kalyani, Deputy Managing Director, Bharat Forge, he said, "We are delighted to welcome the JS Auto team to Bharat Forge family and will look to leverage their capabilities, highly talented technical team and a strong customer connect to aggressively grow our presence in the industrial casting space". The stock tumbled 5.44 per cent at the end of Thursday's trading session.