The stocks that are likely to witness significant movement on the bourses on March 27 are Unitech, Reliance Industries, ITC, BPCL, Mayur Uniquoters, PNB and Mahindra & Mahindra Financial Services.
Unitech: The company has entered into a share purchase agreement with Sterling and Wilson for sale of its entire stake of Unitech Power Transmission. Post the completion of the aforesaid transaction Unitech Power Transmission will become a wholly-owned subsidiary of Sterling and Wilson.
Reliance Industries and ITC: The company’s retail unit, Reliance Retail (RRL) has acquired ITC’s menswear brand John Players. The acquisition would strengthen RRL's readymade garments and accessories portfolio in the fashion and lifestyle retail space.
Mayur Uniquoters: The company’s wholly-owned subsidiary, Mayur Uniquoters Corp, USA has invested in the Futura Textiles by way purchase of 4,50,000 shares equivalent to 68.18 per cent paid up capital of the Futura Textile Inc. The shares will be in focus.
Mahindra & Mahindra Financial Services: The company has received approval for the allotment of 74 Secured Redeemable Principal Protected – Market Linked Non-Convertible Debentures(NCDs) of the face value of Rs 10,00,000 each, at a premium, aggregating to Rs 7.40 crore. The shares will be watched.
Punjab National Bank: RBI imposes an aggregate penalty of Rs. 20 million on Punjab National Bank for violations of SWIFT-related regulations.