Ten stocks in focus in Friday morning trade

NEW DELHI: Indian markets are expected to trade in a range on Friday tracking muted trend seen in other Asian markets.

"I am still bearish and I still see some more choppiness and that is what is worrying me. I mean you may suddenly get a 30, 40, 50 point up move where people will come in, traders would come into buy and then they may get trapped," says Sandeep Wagle, Founder & CEO, Power My Wealth.

"If market rallies to 8,350-8,370 in that case, I am going to sell. I am not going to sell at level of 8,300 or 8,280. The risk reward may not match but broadly we are in that 8,200-8,400 band and 8,400, of course, looks a little farfetched as of now," he adds.

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.