Ten stocks in focus in Tuesday morning trade

NEW DELHI: The S&P BSE Sensex which plunged as much as 100 points in trade on Tuesday recouped some of the losses and was trading above its crucial psychological level of 26400, led by losses in ICICI Bank, L&T, Tata Motors, and M&M.

Tracking the momentum, the 50-share Nifty index also slipped below its crucial psychological support level of 7900 in trade today.
"We expect this volatility to continue throughout the week due to the upcoming events of F&O expiry and GDP numbers," said Jayant Manglik, President-retail distribution, Religare Securities Limited.

"So, traders are advised to keep their trading positions hedged and avoid overleveraging. Also, maintain stock specific approach and prefer frontline counters for trading positions," he added.

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

Metal & mining stocks will be in focus after the former coal secretary P C Parakh today said the screening committee for allocation of coal blocks has no legal basis, but if the Supreme Court decides to cancel all blocks allocated from 1993-2010 it will have a "serious" ramification for the economy.

IOC Ltd: State-owned Indian Oil Corp (IOC) will hold its annual shareholders meeting on Wednesday in Mumbai amid speculation that it may seek to remove four independent directors appointed by the previous UPA government.

Tata Motors Ltd: Tata Motors-owned Jaguar Land Rover (JLR) has roped in British adventurer and television presenter Bear Grylls as the long term brand ambassador for Land Rover brand.

Muthoot Finance Ltd: Facing growth headwinds following regulatory tightening, leading pure-play gold financier Muthoot Finance announced branching out to neighbouring Sri Lanka by acquiring a 30 per cent stake in Asia Asset Finance for $2.1 million.

IDBI Bank Ltd: IDBI Bank announced it would open two lakh basic accounts as part of the recently floated national-level financial inclusion plan announced by Prime Minister Narendra Modi on Independence Day.

Reliance Power Ltd: Reliance Power on Monday told the Supreme Court that it wasn't interested in setting up its ambitious gas-fired power plant in Dadri, Uttar Pradesh, any more and would return about 956 acres of land acquired for the company to the state government.

Tech Mahindra Ltd: The IT major expects its digital unit to contribute more than $500 million to revenue by 2015, as the company moves towards its goal of achieving a $5 billion top line by that time.

SpiceJet Ltd: The management churn in financially beleagured carrier SpiceJet is still on. In the last two weeks four senior executives at the airline have put in their papers, three sources in the know told ET.

Tata Power & Adani Power Ltd: The Supreme Court has stayed an interim order of the Appellate Tribunal for Electricity (APTEL) to allow payment of compensatory tariffs by state utilities to Tata Power and Adani Power on Monday.