Ten stocks in focus in Friday morning trade

NEW DELHI: The 50-share Nifty index reclaimed its crucial psychological level of 8,100 in trade on Friday, led by gains in BPCL, Bharti Airtel, NMDC, ACC and Asian Paints.

Tracking the momentum, the S&P BSE Sensex also managed to rally over 70 points, supported by gains in consumer durable, power and IT stocks.
“The undertone still remains positive however going forward any dip in Nifty is likely to result in considerable correction in many individual stocks which have jumped sharply since last month,” LKP said in a report.

“Nifty’s resistance remains at 8150-8180 level whereas supports continue to be placed at 7980-8000 level,” added the report.

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

Sun Pharma & Ranbaxy Laboratories Ltd: In the first-ever public scrutiny of an M&A deal in India, fair trade watchdog CCI today invited comments from all stakeholders, including general public, on finer details of $ 4-billion merger of Ranbaxy Labs into rival Sun Pharmaceuticals.

Tech Mahindra Ltd: IT services firm Tech Mahindra said it has secured an engineering solutions deal with Canadian aerospace and transportation company Bombardier.

SAIL & NTPC: The government has asked 12 state -run PSUs like SAIL, NTPC and DVC to immediately furnish all details of any joint ventures formed by them related to 20 coal blocks allocated for captive use for submission to the Supreme Court, which is looking into the issue.

Infosys Ltd: Country's second largest software exporter Infosys said it has bagged a five-year contract from Europe's second largest oil and gas company, BP to provide IT services.

Reliance Communications Ltd: Telecom services provider Reliance Communications said it will seek shareholders' approval to raise funds through securities from Qualified Institutional Buyers at its annual general meeting on September 30.

Midcap companies will be in focus: Leading stock exchange NSE will shift securities of 19 companies to the restricted trading segment from September 9, to ensure safety of the investors.

Info Edge India Ltd: Info Edge (India) announces the opening of the Qualified Institutions Placement ("QIP") on 04 September 2014. The floor price is set at Rs 766.89/share.

Petronet LNG: CLSA downgraded the stock to 'underperform' but raised its target price to Rs 195 from Rs 170 earlier. Break-even in Kochi terminal unlikely before FY18, says the brokerage firm which has also slashed its FY15 EPS by 2%, FY16 EPS by 5%.