Ten stocks in focus in Wednesday morning trade

NEW DELHI: Indian markets are expected to trade in a range on Wednesday following mixed trend seen in other Asian markets. The key support for the index is around 6,155 levels.

“The Nifty is expected to trend up till 6360 in the next couple of days. In this period, the key support will be at 6229 and resistance will be at 6320,” said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

“The Nifty has been forming higher tops and higher bottoms; it has also closed above the crucial retracement level, ie 6265, which is a positive sign for the market,” he added.

Mehta is of the view that the short term bias for the index looks positive for a target of 6360 with reversal at 6090 and the medium term outlook remain negative with reversal above 6360as the index has started forming lower tops and lower bottoms on the weekly charts.

Here is a list of ten stocks which are likely to be in focus in trade today:
TCS Ltd: Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organization, announced an exciting new partnership with Microsoft Business Solutions (MBS) at the annual Microsoft Dynamics Convergence Conference.

Bharti Infratel Ltd: Ahead of the launch of its mobile services, Mukesh Ambani-owned Reliance Jio Infocomm signed an agreement with Bharti Infratel to utilise the latter's tower infrastructure.

DLF Ltd: CBI has not found any criminality in the permission given to the country's largest real estate company, DLF, to construct a high-rise luxury apartment complex in the vicinity of Rashtrapati Bhavan which had led to security concerns.

BHEL: Life Insurance Corporation has bought shares worth Rs 1,889 crore, about 4.66 per cent stake, in state-owned power equipment maker BHEL through an open market transaction.

NMDC: State-run iron ore miner NMDC has kept prices for both lump and fines unchanged for March with global rates falling to its lowest in the last eight months.

ONGC: India's state explorer expects peak gas output of 25-30 million standard cubic metres per day (mscmd) from its block off the country's east coast, Exploration Director N K Verma said.

Novartis India Ltd: Swiss drug innovator firm Novartis may face penalties in India for submitting 'fake' document to the Drug Controller General of India (DCGI) for a veterinary medicine.

UPL Ltd: Agrochemicals major UPL (formerly United Phosphorus) has increased its stake in Brazilian firm UPL do Brasil to 73 per cent from the earlier 53 per cent, said media reports. UPL has acquired the stake through its step down wholly-owned subsidiary, following fresh issue of shares by UPL do Brasil, the company said in a statement.

Bharti Airtel Ltd: Bharti Airtel has sought the Kenyan telecom regulator's approval to buy the licences and 2.7 million customers of Essar Telecom Kenya that operates under the Yumobile brand, with people familiar with the matter saying that deal is likely to be worth nearly $100 million.

AstraZeneca Pharma Ltd: The company's board will meet on Wednesday to decide on the delisting price. The decision comes a year after AstraZeneca shelved its plan to go private and instead diluted its stake from 90 per cent to 75 per cent to meet the minimum shareholding limit set by market regulator Sebi.