Ten stocks in focus in Friday morning trade

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

"When you have had a rally, a prudent trading strategy is to possibly take some money off the table. I do not expect the markets to cross the level of 7,850 easily and maybe some consolidation between 7,720 to about 7,850 is required before we make the break in the upside," said Mitesh Thacker, Technical Analyst, miteshthacker.com.

"The directional bias for the intraday indicators are still pointing on the upside. So taking about 40-50 per cent money off the table will not be a bad idea, especially if you have been trading on the options side," he added.

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

Maruti Suzuki India Ltd: Maruti Suzuki India Limited (MSIL) said the company's minority shareholders have given a go-ahead to a proposal to develop manufacturing facilities in Gujarat through a 100 per cent subsidiary owned by parent Suzuki Motor Corporation (SMC).

HDFC: German insurer Ergo plans to increase its stake in HDFC Ergo from 25.84% to 48.742% for Rs 1,122 crore, valuing the company at Rs 4,900 crore.

ONGC: Oil Minister Dharmendra Pradhan vowed to protect government and ONGC's interest on the issue of state-owned firm's natural gas from Bay of Bengal block flowing to adjoining fields of Reliance Industries.

Tata Power Ltd: Spanish wind turbine manufacturer Gamesa has signed a contract with Tata Power to set up a 100-mw wind power project in Andhra Pradesh. The plant is expected to be commissioned at Nimbagallu by May 2017, Tata Power said in a statement issued on Thursday.

Power Grid Ltd: The Reserve Bank of India has now allowed foreign institutional investors (FII) and registered foreign portfolio (RFP) investors to buy more shares of PowerGrid Corporation of India.

Bank of Baroda: CBI Thursday filed its charge sheet against two employees of Bank of Baroda for offences including criminal conspiracy and cheating in connection with alleged illegal remittances of over Rs 6,000 crore made to over 350 accounts in Hong Kong and Dubai from one of its branch here, said a media report.

TAKE Solutions Ltd: IT firm TAKE Solutions said recent floods in Chennai will impact its revenue and margins for the quart

IOC Ltd: Falling water level in the Brahmaputra could affect the functioning of Indian Oil Corporation's Guwahati refinery, according to a top executive at the company.

JMC Projects (India) Ltd: Civil engineering and EPC firm JMC Projects (India) Ltd (JMC) said that it has bagged construction projects worth over Rs 1,050 crore.

Somany Ceramics Limited: The company has informed the exchange that subsequent to the approval accorded by the Board of Directors of the Company, authorised the opening of the QIP on December 17, 2015, with the floor price for the issue i.e. Rs. 357.24.