Ten stocks in focus in Friday morning trade

NEW DELHI: Indian markets are expected to trade in a range on Friday tracking muted trend seen in other Asian markets and SGX Nifty.

"Nifty trades in unchartered territory and would continue to remain in an uptrend as long as 7575 is held as a support," GEPL Capital said in a report.

"On the higher side if it manages to surpass the level of 7700 then it may scale higher till 7768 immediately and beyond that 7800 may be tested," added the report.

However, the brokerage firm is of the view that if the support level of 7,575 is breached then it may further correct till 7500.

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

Edelweiss Financial Services: In a block deal worth Rs 55 crore, celebrated investor Rakesh Jhunjhunwala bought a 1.3% stake in homegrown financial services firm Edelweiss Financial Services on Thursday.

Jhunjhunwala bought 1 crore shares of the firm at Rs 55 per share from GPC Mauritius, an FII which sold over 2.6 crore of Edelweiss shares at an average price of Rs 56.34 on the BSE.

SpiceJet Ltd: Low-cost carrier SpiceJet said it will add capacity on its four existing routes by adding bigger aircraft and introducing additional flights from June 15.

Tata Motors Ltd: Tata Motors-owned Jaguar Land Rover is planning to expand its China operations with a new engine- making plant - its first ever outside the UK - alongside its car assembly factory in Shanghai.

Hero MotoCorp Ltd: Private equity firm Bain Capital is planning to sell a part of its stake in Hero MotoCorp via block deals on exchanges, sources said. Bain Capital is in discussion with potential investors and is likely to sell shares worth approx $300 million, depending on the demand. The deal could hit the equity market in the next few days if price negotiation is complete, a source said.

Idea Cellular Ltd: Country's third largest telco Idea Cellular said it has raised Rs 3,000 crore through qualified institutions placement ( QIP) which witnessed strong interest from both foreign and domestic investors.

IOB Ltd: State-owned Indian Overseas Bank (IOB) today said it has requested the government to provide a capital support of Rs 3,500 crore during the current fiscal.

SAIL: At least six people were killed and over 40 reportedly injured due to a leakage in a methane gas pipeline at a water pump house in the Bhilai steel plant (BSP) on Thursday night.

J&K Bank: Jammu & Kashmir Bank said its board has approved sub-division of share in the ratio of 1:10. As per the approved sub-division, one equity share of the bank having a face value of Rs 10 each would be split into ten equity shares of face value Re 1 each, J&K Bank said in a filing on the BSE.

Oil & Gas stocks: Petrol prices may fall by less than a rupee this weekend as gasoline has eased in the international market. State oil marketing firms, however, are reluctant to pass on the benefit to consumers, arguing that they need a "pricing cushion" in view of the ongoing political crisis in Iraq.

Cipla Ltd: After fighting a long and bitter patent battle in India over lung cancer drug Tarceva (Erlotinib), Swiss innovator firm Hoffman La Roche and Indian generic drugmaker Cipla have entered talks through mediation to settle the matter on "mutually agreeable terms".

Dr Reddy's Laboratories: The drug firm launched Melgain lotion used for treatment of vitiligo, a skin disorder in India under a partnership with Issar Pharmaceuticals Pvt Ltd. The lotion will benefit patients of the skin pigmentation disorder in India, Dr Reddy's said in a statement.