Economic Calendar


Live Economic Calendar Powered by Forexpros - The Leading Financial Portal

MoneyControl

Monday, May 13, 2013

Ten stocks in focus in Tuesday morning trade

Indian markets are likely to trade in a range with a positive bias on Tuesday. The immediate support level forNifty is around 5950. 

"The Nifty is expected to head lower till 5950. In this period the key support will be at around 5950 and resistance will be at 6034," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan. 

"The Nifty has completed five-wave pattern on the upside and is expected to retrace at least 38.2% of the rally from 5477 to 6105," he added. 

Mehta is of the view that the short-term bias for the Nifty has changed to negative for a target of 5814 with reversal around 6111. The medium-term outlook remains positive with reversal around the 20-daily moving average (DMA). 

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

Dr Reddy's Laboratories Ltd, after Life Insurance Corporation (LIC) sold 2.13 per cent stake in drug firm from January 10 to May 10 through open market, according to a BSEfiling by DRL. 

Tata Steel LtdBSE -4.22 %, after the Tata Group flagship company announced a $1.6-billion goodwill impairment charge for the loss of value of Tata Steel Europe (TSE), formerly Corus, and other overseas assets in Thailand and South Africa. 

Bank of BarodaBSE -1.82 %, after the bank reported 32 per cent fall in net profit to Rs 1,029 crore in the January-March quarter due to higher provisions for bad debts. 

Rashtriya Chemicals and Fertilizers Ltd (RCFL), after the company reported 9.6 per cent increase in consolidated net profit at Rs 272.67 crore for 2012-13 fiscal during which it incurred higher expenses and financial costs. 

Zydus Wellness LtdBSE 5.98 %, after the consumer products firm reported 59.14 per cent rise in consolidated net profit to Rs 37.4 crore for the quarter ended March 31. 

Ranbaxy Laboratories LtdBSE -2.09 %after the Gurgaon-based drug firm agreed to pay $500-million penalty to the US government to settle a criminal and civil lawsuit which leveled charges of falsifying data from its drug facilities and shoddy manufacturing practices against it. 

Cairn India LtdBSE -2.65 %, after the company plans to drill 48 wells at a cost of less than $100 million in the Mangala oilfield in the Rajasthan block to extend the current production plateau. 

Reliance Power LtdBSE -3.06 %, after the company reported a 15% year-on-year rise in net profit at Rs 266 crore in the fourth quarter 2012-13, driven by new capacity and higher generation from plants. 

Tata Teleservices (Maharashtra) Ltd (TTML), after the company reported net loss of Rs 115.23 crore for the quarter ended March 31, 2013. 

Bharti Airtel LtdBSE -4.14 %after India's largest mobile phone company by subscribers and revenue and Mumbai-based Loop Mobile have moved the Delhi High Court seeking extension of their licences in metro areas where they are due for renewal in 2014. 

No comments: