Sensex firm in the face of QE cut: Top 10 stocks in focus

NEW DELHI: The S&P BSE Sensex is trading with a positive bias after oscillating between red and green zones in early trade, led by gains in TCS, RIL, M&M and L&T.

Tracking the momentum, the 50-share Nifty index is also on a firm footing; but still below its psychological level of 6,100.

At 10:15 a.m.; the 30-share index was at 20,558.43, up 60.18 points, or 0.3 per cent. It touched a high of 20,567.57 and a low of 20,478.54 in trade today.

The Nifty was at 6,095.45, up 21.75 points, or 0.35 per cent. It touched a high of 6,096.45 and a low of 6,068.35 in trade today.

“The Nifty is expected to trend down till 6,000. In this period the key support will be at 6,000 and resistance will be at 6,157 and 6,226,” said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

Mehta is of the view that the Nifty has broken the range on the downside after facing resistance around the upper end of the Bollinger Band which is a negative sign for the market. The short-term bias for the index remains negative for a target of 5,920 with reversal at 6,360.

Here is a list of ten stocks which are expected to be in focus in trade today:

Hero MotoCorp: The country's largest two-wheeler maker reported a 7.53 per cent increase in profit after tax to Rs 524.66 crore for the third quarter ended December 31 on robust sales.

At 10:15 a.m.; the stock was trading 0.2 per cent lower at Rs 1,995.

State Bank of Travancore: The public sector bank’s reported a net profit in the third quarter ended December 31 of FY14 plunged by nearly 88.8 per cent to Rs 14.76 crore on higher provisioning and rising bad loans.

At 10:15 a.m.; the stock was trading 2.3 per cent lower at Rs 397.75.

JSW Energy: Private power producer JSW Energy reported an over 34 per cent drop in profit after tax at Rs 203 crore for the third quarter ended December 31.

At 10:15 a.m.; the stock was trading 0.6 per cent lower at Rs 43.50.

Neyveli Lignite: The company reported a 120.6 per cent spurt in net profit at Rs 489.02 crore for the third quarter ended December 31 on the back of rise in other income.

At 10:15 a.m.; the stock was trading 2.9 per cent higher at Rs 57.70.

Reliance Power : Capital market regulator Sebi has approved the amalgamation of Reliance Clean Power Pvt Ltd (RCPPL) with Reliance Power. The board of private power utility Reliance Power had approved the amalgamation scheme in November.

At 10:15 a.m.; the stock was trading 1.2 per cent higher at Rs 61.65.

Coal India: In yet another action against Coal India, the Competition Commission has ordered fresh probe into the state-run miner and its subsidiary for alleged abuse of dominant market position in fuel supplies.

At 10:15 a.m.; the stock was trading 0.2 per cent lower at Rs 245.80.

SBI: State-owned bank SBI has raised Rs 8,032 crore by selling shares through qualified institutional placement, making it the biggest ever equity sale via this route, but largely aided by LIC.

At 10:15 a.m.; the stock was trading 1.2 per cent higher at Rs 1536.

EIL: The government on Thursday cleared the decks for 10 per cent stake sale in Engineers India through a follow on public offer (FPO) that is expected to fetch Rs 500 crore.

At 10:15 a.m.; the stock was trading 0.2 per cent higher at Rs 147.

Oberoi Realty: Oberoi Realty rallied as much as 14.85% in early trade. The rally comes on the back of a Supreme Court order on private forest land that frees up hundreds of acres in suburban Mumbai for development.

At 10:15 a.m.; the stock was trading 6.1 per cent higher at Rs 212.60.

Suzlon Energy: Wind turbine maker Suzlon Energy will allot shares worth over Rs 131 crore to its lenders as part of corporate debt restructuring plan. It will allot more than 7.10 crore shares, at issue price of Rs 18.51 per scrip, to CDR lenders on preferential basis, the company said in a regulatory filing today.

At 10:15 a.m.; the stock was trading 4.1 per cent higher at Rs 10.15.