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Top stocks to watch out for on Monday

Indian equity markets are poised to open flat with marginal gains on Monday, tracking mixed cues prevailing in the Asian markets and the SGX Nifty, which was trading at 9,858 with a minor gain of 10 points, is indicating flat start for the day.

Nifty had ended at 9,837 level, down by 66 points while Sensex closed at 31,524 level, down by 270 points in Friday’s trading session. There were 587 advances, 1,098 declines and 72 unchanged stocks on NSE reflecting bearish sentiments floating in the market.

Following are the important stocks to watch out for on Monday:

Infosys: The board of the company approved buyback at Rs 1,150 per share for an amount not exceeding Rs 13,000 crore. The stock witnessed strong selling pressure on Friday following the resignation of Vishal Sikka from the post of MD and CEO.

ICICI Bank: The bank has slashed interest rate on savings deposit below Rs 50 lakh to 3.5% from 4%.

Bajaj Electricals: The company has bagged transmission line order from Transmission Corporation of Telangana Limited worth Rs.391.45 crore.

Union Bank of India: State owned bank has slashed savings bank interest rates by 50 basis points to 3.5% on deposits up to Rs 25 lakh.

Laurus Labs: Vizag bulk-drug unit receives two U.S. Food and Drug Administration observations.

Magma Fincorp: The board of the company approved the acquisition of additional 26% stake in subsidiary Magma ITL Finance.

Nava Bharat Ventures: The board of the company approved the formation of special purpose vehicle (SPV) as a wholly owned subsidiary of the company in Singapore for pursuing emerging business opportunities, including Healthcare Enabled Services abroad, with an investment commitment up to USD 11 million over a period of time.