Sensex rangebound; top 10 stocks in focus

MUMBAI: The Nifty opened on a positive note led by gains in technology, banks and healthcare sectors even as the Asian markets remained subdued.

The government will release the Index of Industrial Production (IIP) data for October 2014 which is expected to contract, compared to October. Inflation based on Consumer Price Index (CPI) for October 2014 will also be announced and expectations are that it will be well below 5 per cent.

At 11:28 a.m.; the 50-share index was at 8,292.45, down 0.45 points or 0.02 per cent. It touched a high of 8,321.90 and a low of 8,285.25 in trade today.

The S&P BSE Sensex was at 27,585.1, down 16.91 points or 0.06 per cent. It touched a high of 27,692.32 and a low of 27,570.34 in trade today.


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

Tech Mahindra Ltd: Software services firm Tech Mahindra has expanded its facility in Bhubaneswar providing new job opportunities to over 600 persons.

Reliance Industries Ltd: Reliance Industries has named former UK judge Sir Bernard Rix as its arbitrator in the KG-D6 cost recovery dispute with the government in place of former Chief Justice of India S P Bharucha who quit last week.

TCS Ltd: Tata Consultancy Services (TCS), India’s largest information-technology services player, is learnt to be undergoing a restructuring exercise. The workforce optimisation programme, in the planning stage, is expected to be over in February 2015, said media reports.

Essar group shares will be in focus: In one of the biggest oil deals, Essar Group signed a $ 10 billion contract to import crude oil from Russia over a 10-year period.

Tata Power Ltd: Seeking to strengthen its international footprint, Tata Power, along with Russian sovereign wealth fund RDIF, will explore investment opportunities in the Russian energy sector.

NMDC Ltd: Indian mining company NMDC signed a memorandum of understanding with Akron to buy a stake in a potash mine in Russia, an official said on Thursday.

OnMobile Global Ltd: The company has informed BSE that the Board of Directors of the Company have decided on Buy-Back of Company’s equity shares of Rs. 10/- each from open market through stock exchange mechanism, at a price not exceeding Rs. 86/- per equity share.

OMCs will be in focus after the price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95.

Wipro Ltd: Wipro said trustees of the Wipro Inc Benefit Trust have sold more than 18 lakh shares of the country's third-largest software firm in a deal estimated to be worth over Rs 100 crore.

Allahabad Bank: Rating agency Crisil has assigned a "low credit risk with negative outlook" rating to Allahabad Bank's proposed Rs 500 crore tier-II bonds to be raised this fiscal.