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Wednesday, June 25, 2014

Sensex rangebound, Nifty turns choppy; top ten stocks in focus - Economic Times

NEW DELHI: The S&P BSE Sensex pared some of its morning gains and was trading in a range with a positive bias, led by gains in HDFC, Tata Motors, Bajaj Auto and HDFC Bank.

Tracking the momentum, the 50-share Nifty index also came off from its intraday high and was trading around 7580 levels, weighed down by losses in FMCG, oil & gas and banking stocks.


According to analysts, the trade may turn choppy ahead of the June series expiry tomorrow.


At 10:00 a.m.; the 30-share index was at 25,385.50, up 16 points or 0.06 per cent. It touched intraday high of 25,427.80 and a low of 25,329.27 in trade today.


The Nifty was at 7,580.75, up 1 point or 0.10 per cent. It touched intraday high of 7,589.25 and a low of 7,566.00 in trade today.


Technically, Nifty has bounced and closed comfortably above 20-DMA indicating that the negativity is fading in the index, LKP said in a report.


"However, the range still remains intact in the index and unless it closes above 7650 further upside in the benchmark will be difficult," added the report.


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


Tata Steel Ltd: There was trouble again at Tata Steel's Greenfield plant at Kalinganagar, in Jajpur district on Monday leading to at least 17 people being injured.


At 10:00 a.m.; the stock was trading 0.8 per cent higher at Rs 536.85.


Idea Cellular Ltd: Idea Cellular Tuesday introduced 'No Bill Shock Combo Plan' for its post paid subscribers across four service areas, allowing users to cap usage-linked expenses.


At 10:00 a.m.; the stock was trading 1.7 per cent lower at Rs 134.60.


Parsvnath Developers Ltd: The Company expects to raise more than Rs 1000 crore ($167.5 million) over the next 18 months through the sale or joint development of its land assets in southern and western India, the company's chairman said.


At 10:00 a.m.; the stock was trading 4 per cent higher at Rs 35.95.


TTK Prestige Ltd: Bangalore-based TTK Prestige is betting big on its newly launched low cost water purifier range as it eyes an overall revenue growth of around 15 per cent in the ongoing fiscal.


At 10:00 a.m.; the stock was trading 0.5 per cent higher at Rs 3678.


DLF Ltd: Fair trade regulator CCI has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.


At 10:00 a.m.; the stock was trading 1 per cent lower at Rs 216.


Reliance Infrastructure Ltd: The Bombay High Court has dismissed the petition filed by the Mumbai Metropolitan Region Development Authority (MMRDA) challenging the fare hike of Mumbai Metro by Reliance Infra for the Mumbai Metro rail.


At 10:00 a.m.; the stock was trading 2 per cent higher at Rs 744.85.


IRB Infrastructure, GMR Infrastructure: In a boost to the infrastructure sector, Ministry of Road Transport and Highways has approved worth over Rs 40,000 crore of highway projects to be implemented in the next couple of years. These projects are in the states of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and the Northeastern region.



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