Stocks to watch on March 12: Bharti Airtel, SpiceJet, ITC, Jio Financial and more

At the stock market today (March 12), a stock to watch out for is Bharti Airtel as the telecom major is expected to be the frontrunner.

In an auction of eight spectrum bands after Reliance Jio made major acquisitions in the 2022 auctions while Vodafone Idea struggles amid financial constraints. The auction will commence on May 20 where Bharti Airtel is likely renew its licenses for 42MHz of spectrum in the 1800MHz and 900MHz bands across six circles.

Another stock to watch out for today is ITC as it reportedly prepares for a sale of its stake within the next fortnight. The company intends to offload a 4% stake at a share price of ₹380-390, 5-8% markdown from Monday’s closing price of ₹409, it was reported.

SpiceJet will also be a stock to watch out for after two top executives of the airline resigned- Shilpa Bhatia, Chief Commercial Officer, and Arun Kashyap, Chief Operating Officer. Both may venture into their own charter airline business, reports claimed.

Meanwhile, InterGlobe Aviation could also be a stock to look out for as promoter Rakesh Gangwal sold 2.25 crore equity shares in the IndiGo operator via open market transactions which amounted to ₹6,785.73 crore.

Morgan Stanley Asia (Singapore) Pte bought 21 lakh shares in the company at an average price of ₹3,015.1 crore, valued at ₹633.17 crore, it was reported.

Jio Financial Services should also be looked out for after the BSE decided to add Jio Financial Services to its S&P BSE Financial Services index. This will come into effect from March 18.