Five stocks in focus on Tuesday morning trade

NEW DELHI: The 50-share Nifty index is expected to open soft on Tuesday tracking positive Asian markets after China reported 43 percent year-on-year increase in its trade surplus for the month of June.

We have compiled five stocks that are likely to react in Tuesday morning trade:

1) OnMobile Global Ltd, after the coy announcement by India's top mobile value-added services provider said Rao, who is also a co-founder, resigned because the corporate governance "weaknesses" were identified during his tenure.

2) ONGC, after the overseas arm of the national exploration company, ONGC Videsh, is planning an initial public offering to raise over Rs 5,000 crore in the current fiscal to fund acquisition of foreign oil assets.

3) Cairn India Ltd, after Oil and Natural Gas Corporation has entered into an agreement to use Cairn India's western offshore facilities to produce natural gas from its North Tapti fields.

4) Madras Cements Ltd, after the company has lined up investments to the tune of Rs 300 crore for the present financial year, of which Rs 225 crore will be utilised for setting up a thermal power project.

5) Videocon Ltd, after the company plans to borrow as much as $1.4 billion to develop energy assets in Mozambique, according to a person familiar with the matter.