Ten stocks in focus in Thursday morning trade

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

"The sentimental 8000 mark with the 50 EMA placed at 7,999 is embedded in it, is still a crucial resistance to watch out for. In fact, Nifty50 on Wednesday reacted from the levels to retest the base at 7,920. A momentum move past it can take NIFTY through to 8,050-8,100 mark, and the same may seem quiet miniscule," GEPL Capital said in a report.

"However, such are the ways of a low volatility market & that creates a difficulty in trade. On the flip side, 7,690 levels which have been acting strong support since last three weeks remains crucial level on the downside," added the report.

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

Aditya Birla Nuvo Ltd: The company sold 23% stake in life insurance to Toronto based Sun Life Financial for Rs 1,664 crore, valuing the company at Rs 7,234 crore.

CIL Ltd: Coal India's mining project in Maharashtra with a production capacity of 3.25 million tonnes per year will be commissioned by the month-end, as the PSU targets one billion tonnes of production by 2020.

Wipro Ltd: The IT major has agreed to acquire German IT consulting and software services firm cellent AG from Landesbank Baden-Wuerttemberg for $73.5 million euros (Rs 520 crore), as the Bengalurubased IT services company looks to speed up growth in continental Europe.

MTNL Ltd: Government said that there is no proposal to disinvest stake in BSNL and MTNL as part of their revival strategy. In a written reply in Lok Sabha, the minster said every attempt with effective monitoring is being undertaken to revive the two companies and make them competitive.

Maruti Suzuki India Ltd: ISS proxy services, US based advisor to institutional investors, has recommended minority shareholders to vote for a resolution under which Maruti Suzuki, India's largest car maker, is seeking approval for its parent Suzuki Motor Corp to build new factory in Gujrat.

United Breweries Ltd, Yes Bank: McDowell Holdings, a unit of Vijay Mallya-led UB Group, said private lender Yes Bank had invoked shares of United Breweries Ltd (UBL) which formed only 0.16 per cent of its holding.

JustDial Ltd: The local search engine said it will spend up to Rs 164.5 crore on a share buyback programme. It plans to buy back up to 10.61 lakh shares at Rs 1,550 a share on proportionate basis. The company has fixed the record date as December 4.

Scooters India Ltd: The government is considering selling off Scooters India, four years after shelving a similar plan for the state-run manufacturer of Vikram three-wheelers because of opposition from the Uttar Pradesh unit of the then ruling Congress party.

Bhushan Steel Ltd: Debt-laden Bhushan Steel says it is in the process of getting Rs 3,000 crore from sale and lease-back arrangements for two of its assets, oxygen and coke oven plants, in Odisha, said a media report.

Sun Pharma Ltd: The pharma major announced its association with gold medalist snowboarder and 2015 ESPY Best Female Action Sports Athlete Kelly Clark, said a media report.