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Monday, May 6, 2013

Eleven stocks in focus in 07 may 2013

Indian markets are likely to trade in a range with a positive bias on Tuesday. The immediate support level forNifty is around 5929. 

"The Nifty is expected to head higher till 6000. In this period the key support will be at around 5929 and resistance will be at 6000," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan. 

The Nifty has closed above 78.6% retracement level (5971), i.e. the level of retracement of the fall from 6111 to 5477.The level was a very crucial resistance. 

Mehta is of the view that the short-term bias for the Nifty remains positive for a target of 6111 with reversal around 5775. The medium-term outlook also remains positive with reversal around the 20- daily moving average (DMA). 

Here is a list of eleven stocks which are likely to remain in focus in morning trade: 

Emami Ltd, after the FMCG firm reported 29.8% jump in its net profit at Rs 93.97 crore for the fourth quarter ending March 31, 2013, on back of 13.1% jump in revenue at Rs 450.95 crore. 

Den Network Ltd, after the Cable television services firm plans to raise around $160 million (about Rs 865 crore) through issue of shares to institutional investors, including $110 million from the Goldman Sachs Group. 

Kansai Nerolac Paints, after the company has reported over two-fold increase in standalone net profit at Rs 122.7 crore for the quarter ended March 31, 2013. 

Coal India LtdBSE -0.87 %, after the government is looking to launch a Rs 20,000-crore share sale by divesting 10 per cent equity in Coal India, which will single handedly meet half of this year's disinvestment target. 

Adani Power LtdBSE 0.10 %after the company reported Rs 586 crore net loss for the fourth quarter ended March 31, primarily due to higher cost of imported fuel. 

Omaxe Ltd, after the realty player said its promoters are planning to launch an offer for sale (OFS) to comply with the Sebi's minimum public shareholding norms. 

South Indian Bank, after the bank reported over 26 per cent jump in net profit at Rs 153.83 crore for the fourth quarter ended March 31, 2013, mainly on the back of an improved net interest margin. 

Godrej Properties LtdBSE 1.82 %, after the company said that its board of directors will meet on May 9 to consider the issue of equity shares to existing shareholders on a rights basis. 

NTPC Ltd, after the state-run power major said it expects to start production at its six coal blocks by 2017, which will help it secure an additional 40 million tonne of captive coal. 

State Bank of India, after the public sector bank said it will consider merger of five associate banks in the second quarter of the fiscal. 

Lanco Industries Ltd, after the company said that it has decided to withdraw its proposal to set up a mini cement plant in Andhra Pradesh. 

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