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Twenty stocks in focus in Friday morning trade

Indian shares are expected to trade in a range. Here is a list of twenty stocks that are likely to be in action in morning trade today.

Updated: Feb 01, 2013, 09.37 AM IST
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Stocks in news: Jet Airways, JP Associates, Shree Renuka
NEW DELHI: The BSE Sensex rose 0.2 per cent in early trade on Friday, led by gains in RIL, Bajaj Auto and ONGC.

At 9:20 a.m., the 30-share BSE Sensex was trading 0.20 per cent higher at 20,024. RIL (0.6 per cent), Bajaj Auto (1.9 per cent) and ONGC (0.7 per cent) led the gainers pack.

The Nifty was trading 0.16 per cent higher at 6,044.15. It touched a high of 6047.90 and a low of 6033.05 in early trade today.
"The Nifty is now expected to head lower till 5959 with resistance around 6057 in the short term. The key supports in the immediate run will be around 6000 and resistance will be at 6057," says Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

"The Nifty faced resistance around the upward sloping trendline on the daily chart, which has completed an ending diagonal pattern," he added.

Mehta is of the view that the Nifty's short-term bias would remain negative for a target of 5850 with reversal around 6150. The medium-term outlook has changed to negative.

Here is a list of twenty stocks that are likely to be in action in morning trade today:

1) Oil India Ltd, after the government has set offer for sale (OFS) floor price is set at Rs 510, which translates into a discount of a little over 5 per cent to its Thursday's closing price of Rs 539.20.

2) Bharti Airtel Ltd will be eyed ahead of its quarterly results. The company is likely to report a net profit of Rs 773.60 crore for the quarter ended December 2012, up 7.1 per cent sequentially, as compared to a net profit of Rs 721.20 crore in the previous quarter, says ET Now poll.

3) Oil and Natural Gas Corp Ltd, after the state-run firm will raise $900 million through overseas bonds to fund an acquisition in Azerbaijan, Chairman Sudhir Vasudeva told reporters on Thursday.

4) BHEL Ltd, after media reports suggested that the disinvestment in Bhel will not happen in this financial year due to the "terrible scenario" in the power sector, Heavy Industries and Public Enterprises Minister Praful Patel said today.

5) Greaves Cotton Ltd, after the company said its profit after tax rose marginally to Rs 34.4 crore in the third quarter ended December 2012 as against Rs 34.2 crore profit registered during the corresponding quarter a year ago.

6) Grasim Industries Ltd, after the Aditya Birla Group Company on Thursday reported a consolidated net profit of Rs 549.17 crore for the quarter ended December 2012, against Rs 669.07 crore in during the year-ago quarter.

7) Shree Renuka Sugars Ltd, after the country's largest sugar refiner today posted a 40 per cent fall in its standalone net profit at Rs 17.5 crore during the quarter ended December 31 on the back of rising expenses and finance costs.

8) Siemens Ltd, after the company posted 21 per cent jump in its profit after tax at Rs 73.07 crore for three month period ended December 31, 2012.

9) JSW Ispat Ltd, after the company said its shareholders have approved merger of JSW Ispat Steel with itself, paving the way for the company to become second largest steel producer in the country.

10) Jindal Steel & Power Ltd, after the company made an all-cash AUD 221.61 million (about Rs 1,200 crore) offer to buy out Gujarat NRE Coking Coal Ltd, the Australian subsidiary of Kolkata-based Gujarat NRE Coke.

11) DLF ltd, after the country's largest realty firm said it will sell its wind turbine business in Gujarat to Bharat Light & Power for Rs 282.30 crore, thus starting the process to divest its last major non-core asset.

12) GAIL Ltd, after the US has allowed staterun Gail to ship shale gas to India, making an exception to its restrictive export policy. This will facilitate Gail India to import 3.5 million tonnes per year of liquefied natural gas (LNG) for two decades from 2017-18.

13) Jet Airways Ltd, after Etihad Airways is widely expected to buy up to 24% stake in Jet Airways, could get equal board representation in the Indian company, people close to the development said.

"The Abu Dhabi-based airline is also expected to step up its stake in Jet in phases to 49%, though this could happen over a number of years, they added," ET reported.

14) Tata Global Beverages Ltd, after the Tata Group firm reported a 25.28 per cent rise in its consolidated net profit to Rs 80.26 crore for the quarter (Q3) ended December 31, 2012, mainly on account of robust sales in tea and coffee verticals.

15) Oriental Bank of Commerce (OBC), after the bank raised the rates by up to 2.25 per cent for fixed deposits (FDs) of short-term maturities.

16) Dhanlaxmi Bank Ltd, after the bank reported a net profit of Rs 4.39 crore for the third quarter ended December, 2012. It had reported a loss of Rs 36.87 crore in the corresponding quarter of the previous fiscal.

17) Cummins India Ltd, after the engine maker reported 66.06% increase in its net profit for the quarter ended 31 December 2012, at Rs.234.08 crore. The company had posted a net profit of Rs.140.96 crore in the corresponding period previous year, Cummins India said in a filing to the BSE.

18) Reliance Communications Ltd, after the telecom major signed a partnership deal with China's Lenovo Group Ltd, the world's second-largest maker of personal computers, to make smartphones that will work on CDMA and GSM networks simultaneously.

19) State Bank of Hyderabad, after the public sector lender reported a jump of 6.80 per cent in net profit to Rs 321.72 crore for the third quarter ended December 2012.

20) Sobha Developers, after the company reported 7 per cent increase in consolidated net profit at Rs 52.6 crore for the quarter ended December 31, 2012.

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