Stocks in news: Infosys, Pfizer, Axis Bank, FTIL, Ranbaxy, MCX

MUMBAI: The market may witness some profit-booking at higher levels and traders must use the upmove as an opportunity to reduce long positions, say analysts.

Following stocks are likely to be in action today:

Infosys has won $150 million outsourcing deal from Westpac.

Pfizer and Wyeth will merge India ops to create a single Pfizer brand. The merger will be completed in 9 months. Wyeth shareholders will be issued 7 shares of Pfizer for every 10 held.

Financial Technologies is likely to put warehousing and collateral mgmt arm on the block. It has appointed Avendus Capital to look for financial or strategic buyers for NBHC.

Axis Bank will to replace JSPL on S&P BSE Sensex from December 23. Foreign shareholding in Axis Bank has reached trigger limit.

MCX-SX is working on cutting costs, lower loses and review agreements with parent Financial Technologies.

Engineers India has reached an understanding with Dangote Group in Nigeria for Project Management Consultancy (PMC) and Engineering, Procurement and Construction Management (EPCM) services for implementing a grassroot 400,000 BPSD (20 MMTPA) Petroleum Refinery and 600,000 TPA Polypropylene Plant.

NHPC's Rs 2,368 crore share buyback will begin on November 29 and end on December 12

Tata Power has inked a Memorandum of Understanding with Vietnam government to set up power project

Dabur India board approves increasing FII limit to 30 percent

Valecha Engineering bags project in Himachal Pradesh in the Hydro power tunneling segment worth Rs 176 crore

Ranbaxy Laboratories may sell-off its Bangalore-based vaccine manufacturing company Biovel, say reports.