Top eight stocks in focus in Thursday morning trade

MUMBAI: The Indian markets opened in green led by supportive cues from global peers. Trade may turn rangebound and traders may continue to book profits in cyclicals and buy defensives.

Following stocks are likely to be in action in trade today:

Bharti Airtel, SBI: The duo is set to forge a mega alliance for a payments bank. Sources tell ET NOW both parties have initiated talks for a payments banks alliance which if sealed will have multiple synergies across subscriber base, rural infrastructure and rural penetration.

The talks are in the preliminary stage. The final deal will be finalised after the RBI notifies the final norms for payments banks

Tata Steel: The company posted its first quarter results in-line with expectations, Sales are up 11 per cent but profits dipped 70 per cent to Rs 337 crore on account of exceptional losses and tax out go. Tata Steel's European operations improved substantially.

ONGC: It may see some selling pressure in trade after its first quarter profit lags estimates.. Higher subsidy discounts to retailers and exploration-related write offs weigh on earnings.

Lanco Infra: The company sold 1,200 MW Udupi power plant to Adani group. Udupi power plant sold for over Rs 6,000 crore. The company will get Rs 2,000 cr in cash. Adani will take Udupi's long-time debt of Rs 4,000 crore.

Tata Power: According to reports, the company may sell non-core investment to cut Rs 38,000 crore debt. It may look to sell stake in Tata Project, Nelco

Dishman Pharma: The board has approved QIP issue of up to Rs 200 crore.

Persistent Systems, UPL: The MSCI Global Small Cap Index has deleted these two companies from their list.

Key earnings today: Hindalco, Cipla, Reliance Communications, PFC, Lanco Infra, Page Industries, Orchid Chemical, Future Retail, Pipavav Defence and Videocon.