Pre-Market: 5 stocks to watch

The markets are likely to open on a positive note tracking firm global cues. The progress of monsoons and the possibility of a growth-oriented Budget add to the sentiments.

 

 Asian stocks hovered at a three-year high and the dollar rose early on Thursday after robust jobs data fuelled hopes that the U.S. nonfarm payrolls report would point to momentum building in the economy.

 

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS stood little changed at 499.88, within a short distance of a three-year peak of 500.26 reached the previous day.

 

Tokyo's Nikkei .N225 gained 0.4 percent, buoyed by the weaker yen. In addition,  the SGX Nifty is quoting at 7,775.00 up 0.42%.

 

Stocks to Watch:

 

Ashok Leyland has raised over Rs 666 crore through allotment of shares at a price of Rs 36 apiece to institutional investors.

 

United Spirits is likely to remain in focus after world's largest liquor maker Diageo Plc acquired an additional 26% in India's largest alcoholic beverages company for Rs 11,448.91 crore.

 

Tech Mahindra on Wednesday formed a joint venture with Midad Holding to provide IT and ITeS solutions in Saudi Arabia.

 

Anil Ambani-controlled Reliance Communications Ltd (RCom) on Wednesday raised Rs.6,100 crore by selling shares to institutions and warrants to promoters.

 

Promoters of GMR Infrastructure, led by Chairman G M Rao, are planning to increase their stake in the company by infusing Rs 600 crore through warrants.