Sensex rangebound ahead of F&O expiry; top ten stocks in focus

NEW DELHI: The S&P BSE Sensex pared intraday gains of 65 points and turned flat ahead of F&O expiry on Wednesday, weighed down by losses in ONGC, HDFC Bank, Bharti Airtel & Dr Reddy's Laboratories.

The trade is expected to turn choppy on the settlement day of December series, say experts.

Tracking the momentum, the 50-share Nifty index also turned flat, weighed down by losses in consumer durable, oil & gas, power and IT stocks.

At 10:00 a.m.; the 50-share index was at 8,265.65, down 1.1 points or 0.01 per cent. It touched a high of 8,286.40 and a low of 8,255.35 in trade today.

The S&P BS Sensex was at 27,510.52, down 3.2 points or 0.01 per cent. It touched a high of 27,571.25 and a low of 27,467.91 in trade today.

Here is a list of ten stocks which are in focus today:

Cipla Ltd: Drug major Cipla's subsidiary has bagged an order worth 2 billion rand (around Rs 1,100 crore) for HIV drugs from the South African government.

At 10:10 a.m.; the stock was trading 0.12 per cent higher at Rs 630.40.

Yes Bank Ltd: Private sector lender Yes Bank said it has raised $200 million in an unsecured loan from Asian Development Bank for onlending to small farm households and rural womens' self help groups (SHG).

At 10:10 a.m.; the stock was trading 0.6 per cent higher at Rs 740.

Neyveli Lignite Corporation Ltd: There is a proposal to import coal for Neyveli Lignite Corporation's Rs 14,375-crore thermal power project in Uttar Pradesh due to delays in development of mine allocated for the plant.

At 10:10 a.m.; the stock was trading 0.6 per cent higher at Rs 80.25.

UltraTech Cement & Jaiprakash Associates: UltraTech Cement has signed a memorandum of understanding (MoU) to buy two cement plants of Jaiprakash Associates in Madhya Pradesh, a deal that will help consolidate its position as India's biggest cement-maker.

At 10:10 a.m.; UltraTech Cements was trading 3.7 per cent higher at Rs 2634 and Jaiprakash Associates was up 1.2 per cent to Rs 23.75.

Nirlon Ltd: An affiliate of Singapore sovereign wealth fund GIC plans to take control of India's Nirlon Ltd in a deal estimated to be worth up to $197 million, the companies said on Tuesday.

At 10:10 a.m.; the stock was trading 0.2 per cent higher at Rs 193.50.

Bharati Shipyard Ltd: Edelweiss Asset Reconstruction Company is looking to raise up to $100 million (Rs 634 crore) for Bharati Shipyard from foreign investors by April in an effort to infuse liquidity into the cash-strapped shipbuilder, its MD Vijay Kumar told ET.

At 10:10 a.m.; the stock was trading 13 per cent higher at Rs 37.90.

IOC: State-run Indian Oil Corporation said it will be investing Rs 6,800 crore on capacity expansion and improving fuel quality at its Gujarat refinery unit.

At 10:10 a.m.; the stock was trading 2.3 per cent lower at Rs 327.10.

Coal India Ltd: Coal India board has given an `in-principle' approval to formation of two joint ventures, with GAIL and Rashtriya Chemicals & Fertilisers for coal gassification and fertiliser projects respectively at Talcher in Odisha, said media reports.

At 10:10 a.m.; the stock was trading 1.1 per cent higher at Rs 388.

Fulford India Ltd: A Merck & Co Inc subsidiary, has transferred its consumer care business to Bayer Pharmaceuticals Private Ltd. Bayer AG has globally acquired the consumer care business from Merck & Co. As part of the global transaction, the consumer care products like Alaspan, Polaramine, Tinaderm marketed by Fulford (India) have been transferred to Bayer Pharmaceuticals Private Ltd, Fulford India said in a filing to the BSE.

At 10:10 a.m.; the stock was trading 1.1 per cent lower at Rs 1640