Fifteen stocks in focus in Tuesday's trade

NEW DELHI: The Indian market is expected to trade in a range on Tuesday, tracking muted trend seen in other Asian markets.

"The market created a fresh 52-week low on Monday. Nonetheless, one needs to keep in mind that the market is oversold and there are supports nearby," GEPL Capital said in a report.

"The 7,540 level is important to watch in that context. An important point to note is that, some sort of bullish price behaviour (like Candlestick Hammer, bullish engulfing pattern, small higher bottom) around the said support would indicate that a short-term reversal can happen,” the report said.
Here is a list of 15 stocks that are likely to remain in focus today:

JSW Energy & Jaiprakash Power Ventures: JSW Energy is all set to acquire Bina thermal power from Jaiprakash Power Ventures for Rs 3,500 crore. The thermal power plant has installed capacity of 500 MW and have sufficient infrastructure to ramp it up to 1500 MW with marginal investment, two people familiar with the development told ET.

Sujana Towers: The CCI has approved the proposed acquisition of Sujana's tower business by Agarwal Steel Structures on a slump sale basis, saying the deal is not likely to have an adverse impact on competition.

Crompton Greaves: The Avantha Group firm said it has bagged a three-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers.

Maruti Suzuki: The Maruti Suzuki stock is expected to attract the attention of global passive funds in the next few months following the company's decision to raise the FPI (foreign portfolio investor) holding limit to 40%, from 24%.

Reliance Infrastructure: Anil Ambani-led Reliance Defence (RDL) has signed an MoU with Abu Dhabi Ship Building to set up a strategic partnership for construction of naval ships, including frigates and destroyers to address the demands of Gulf Cooperation Council (GCC), over the next 10 years. RDL is a fully owned subsidiary of Reliance Infrastructure.

LIC Housing Finance: LHFL said it will raise up to Rs 43,000 crore via non-convertible debentures on private placement basis.

SpiceJet: SpiceJet, India's second-largest budget carrier in terms of market share, is in talks to buy around 100 small turboprop aircraft for an estimated $3 billion (about Rs 19,800 crore) at list prices, said media reports.

Bank of Maharashtra: State-owned Bank of Maharashtra said the bank will issue over 10 crore shares to the government in exchange of capital infusion of Rs 394 crore.

Steel companies: An Indian government body has found evidence that rising imports of some hot-rolled steel products from China, Japan, South Korea and Russia pose a threat to the domestic industry, potentially paving the way for an import levy known as a safeguard duty, Reuters said in a report.

Wipro: Months after it poached Tata Consultancy Services veteran Abid Ali Neemuchwala as its operations chief, Wipro has roped in yet another top executive from TCS, Dave Chopra, to head its key global infrastructure business. India's third-largest software exporter confirmed the development.

Britannia Industries: Fast moving consumer goods ( FMCG) giant Britannia Industries on Monday evinced interest to set up an agro-processing facility in Chittoor district of Andhra Pradesh, said a statement from the Andhra Pradesh chief minister's office.

Indian Hume Pipe Company: The company has entered into an agreement with Mumbai-based builder Dosti Realty for development of nearly 3.5 acre land parcel in Mumbai's Wadala locality. The total land parcel includes 2.08 acre freehold land, while 1.39 acre is under Slum Rehabilitation Scheme.

JMT Auto: Rating agency Crisil has downgraded long-term bank ratings on Amtek Auto group company JMT Auto (JMTL) to 'BBB-' from 'BBB+' in the wake of shrinking revenue and profitability.

Info Edge: Restaurant search and discovery app Zomato has raised $60 million in funding led by Singapore based Temasek with participation from existing investor Vy Capital. Zomato has in total raised close to $225 million from Info Edge, Sequoia India, Vy Capital, and Temasek.