Ten stocks in focus in Monday morning trade

NEW DELHI: The S&P BSE Sensex rallied over 120 points to hit its fresh record high of 26540.51, led by gains in RIL, HDFC, Tata Motors and L&T.

Tracking the momentum, the 50-share Nifty index also rallied over 25 points to hit its fresh record high of 7943.20, supported by gains in capital goods, banks, auto and oil & gas stocks.
"Either we breakout fairly quickly or this kind of range bound movement will create a problem. But let us wait and see whether we are able to breakout on the upside," he added.

Gujral is of the view that next week will still be range bound and unless we start getting some big reform announcements, till then oil, PSUs, PSU banks should continue to move up.

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

ONGC, OIL: A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will on Monday hold its first meeting with stakeholders, media reports said quoting a petroleum ministry source.

Reliance Industries Ltd: While a secretaries' panel set up last week is about to go into the vexed issue of gas pricing, Reliance Industries chose not to withdraw an arbitration notice sent to the Centre in May for the latter's failure to keep the promise of a new gas price from July. RIL has written to the petroleum ministry contending that the government is not within its right to compel it to sell gas at below market price, said media reports.

Jet Airways Ltd: Credit-rating agency ICRA has downgraded Jet Airways' debt to "D" rating from "BB" after it "got information" on payments by the airline. According to Icra's rating scales, "Instruments with 'D' rating are in default or are expected to be in default soon."

Financial Technologies Ltd: The Securities Appellate Tribunal (SAT) has asked Jignesh Shah-promoted Financial Technologies to approach Sebi for seeking extension of time for divesting existing holdings in MCX-SX and four other entities.

GAIL India Ltd: The Narendra Modi government has pulled out from the cold storage a Rs 10,000 crore pipeline project that would make it possible to provide CNG and PNG services in these cities and revive sick fertilizer plants in the region.

TCS & ITC Ltd: Tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on a Fortune magazine list, which has got as many as 19 new entrants including Cognizant, Birla group firm Idea Cellular and discom BSES Rajdhani Power Ltd.

Jindal Steel Ltd: Naveen Jindal's JSPL says its stand against the BOlivian government has been vindicated by Paris based the International Chamber of Commerce which has ordered Evo Morales' Bolivian government to pay the company $22.5 million.

Asian Paints Ltd: The paint company on Friday said its step-down subsidiary Berger International Ltd (BIL) has filed an application for investment approval with the regulatory authorities for setting up a paint manufacturing facility in Indonesia.