Ten stocks in focus in Thursday morning trade

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

"The momentum on the upside has been lost, though, in that sense I would expect a 40-50 point correction in the Nifty50," said Sandeep Wagle, Founder & CEO, Power My Wealth.

"I do not expect anything beyond that, so 7,840-7,850 should hold on. On the upside, 7,920-7,930 will act as a resistance and I would talk of a expiry somewhere around 7,870-7,880," he added.

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

Amtek Auto Ltd: Troubled auto components maker Amtek Auto has pledged its entire stake of nearly 71 per cent in group firm JMT Auto with IL&FS Trust Company (ITCL).

GIC Housing Finance Ltd: The company said it will acquire up to 16 per cent stake in LIC Nomura Mutual Fund Asset Management Company for Rs 22.68 crore

State Bank of Travancore Ltd: The bank said it will raise up to Rs 1,250 crore by issuing tier-II bonds. The board has approved the raising of up to Rs 1,250 crore by way of issue of Basel III compliant Tier II Bonds.

Lanco Infrastructure Ltd: The company approved a move to issue Compulsorily Convertible Debentures (CCDs) on preferential basis to IDFC Bank, worth about Rs 350 crore.

Prakash Steelage Ltd: Stainless steel tubes and pipes manufacturer Prakash Steelage said Spain's Tubacex SA has completed acquisition of a majority 67.5 per cent stake in its seamless stainless steel tubes division.

CEAT, MRF: Natural rubber producers and traders may be staring at a bleak 2016 after facing one of the worst years in the recent times. The prices of natural rubber have plunged to an eight-year low of about Rs 100 per kg, forcing many growers to abandon tapping in Kerala, which accounts for 90% of rubber cultivation in the country.

Union Bank of India: The Competition Commission has approved the state-run Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company (AMC).

Jet Airways and Godrej Consumer Products: Leading bourse National Stock Exchange (NSE) will introduce four companies, including Jet Airways and Godrej Consumer Products, in the future and option segment from Friday.

Srei Infrastructure Finance Ltd: The company offloaded 57.38 lakh shares in Pipavav Defence and Offshore Eng Ltd for Rs 51.34 crore through an open market transaction.