Pre-Market: 5 stocks in focus

Here are a few stocks that you need to keep a tab on today

The markets are likely to open on a positive note tracking firm global cues.  

 

Japan's Nikkei share average rose to a 5-1/2-month high on Friday as a much-stronger-than-expected U.S. jobs report fueled investors' appetite for riskier assets, while the weak yen lifted exporters.

 

The Nikkei was up 0.7 percent at 15,459.22 points by mid-morning after hitting a high of 15,490.37 earlier, its highest level since January 23. For the week, the benchmark has added 2.2 percent.

 

In addition, SGX Nifty is quoting at 7,759.50 levels up 0.17%.

 

On Thursday, both the Dow and S&P 500 ended at their third consecutive record highs in holiday shortened session before the July 4 Independence Day holiday, when the U.S. stock market will be closed.

 

Back home, the Reserve Bank relaxed norms for overseas investment by Indian corporates by raising their borrowing limit. "It has, however, been decided that any financial commitment exceeding USD 1 billion (or its equivalent) in a financial year would require prior approval of the Reserve Bank even when the total financial commitment of the Indian Party is within the eligible limit under the automatic route." RBI said in a notification.

 

Stocks to Watch:
 

Shree Renuka Sugar is likely to remain in focus after the company’s open offer failed. The company was able to acquire only 1,750 shares out of over 24 crore shares due to higher share price compared with the offer rate

 

Real estate firm Prestige Estates Projects bought an eight-acre land parcel in a prime Bangalore location for Rs.345 crore from engineering company Siemens.

 

Glenmark Pharmaceuticals stated that  its new molecule for potential treatment of autoimmune diseases is entering human trials. 

 

Cairn India signed up Halliburton Company, a US multinational, for a Rs 1,200-crore contract to drill 100 wells at the Rajasthan onland block RJ-ON-90/1 over the next 18 months.

 

Hindalco is likely to remain in focus after Morgan Stanley under-rated the stock.