Twelve stocks in focus in Monday morning trade

NEW DELHI: Indian markets are expected to trade in a range on Monday following muted trend seen in other Asian markets. The key support for the index is around 6,399 levels.

"The Nifty is expected to trend up till 6600. In this period the key support will be at 6399 and resistance will be at 6600," 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 previous swing's high which is a positive sign for the market," he added.

Mehta is of the view that the short-term bias for the market remains positive for a target of 6600 with reversal at 6150. The medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly chart.

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

Reliance Industries Ltd: In a damning indictment, the CAG has said Oil Ministry and its technical arm DGH approved notification of now flagging gas discoveries in Reliance Industries' KG-D6 block despite the company not doing enough appraisal.

JSPL, Tata Steel Ltd: The government has decided to give firms, including JSPL and Tata Steel, more time to seek clearances from Environment Ministry and furnish proof on the same to Coal Ministry by December 1, failing which their mines would be deallocated.

Financial Technologies, MCX: Jignesh Shah-promoted Financial Technologies (India) Ltd (FTIL) said it has appointed JM Financial Institutional Securities Ltd as the financial adviser for divestment of stake in its group company Multi Commodity Exchange of India Ltd (MCX).

Engineers India Ltd: EIL has won its largest ever overseas consultancy contract for a 20 million tonne oil refinery in Nigeria as it looks at markets abroad to more than double its revenue to $1 billion in the next 3-4 years.

Ranbaxy Laboratories Ltd: The drug major has recalled more than 64,000 bottles of the generic versions of its cholesterol-lowering drug in the United States due to reports of a dose mix-up, US regulators said.

State Bank of India: The country's largest lender, said on Saturday it has seen a little easing of stress on power sector loans on the back of fuel linkages, but is not looking for any fresh exposure to this sector immediately.

Dishman Pharma: Dishman Pharmaceuticals and Chemicals Ltd is in talks to sell its 175 hectares of land in Gujarat to Nirma for about Rs 650 crore to cut its debt, said media reports.

Genmark Pharmaceuticals Ltd: The pharma major received fair trade watchdog Competition Commission of India (CCI) approval for the proposed merger of two subsidiaries with itself.

Reliance MediaWorks: The promoters of Reliance MediaWorks have offered to buy back shares worth at least Rs 251 crore from public shareholders as part of plans to delist the company.

NTPC: India's largest power producer has challenged the electricity regulator's order on tariff norms in the Delhi High Court. The regulations issued by Central Electricity Regulatory Commission (CERC) raised concerns about the company's earnings and triggered a steep fall in NTPC's shares, prompting the state-run firm to file a writ petition.