Pre-Market: Stocks to watch in trade on Thursday

Here are a few stocks that are likely to be in focus today:

ICICI Bank turns ex-dividend today for dividend of Rs 5 per share for the year ended 31 March 2015.

Mphasis plans to work as a venture capitalist firm for employees who can come up with start-ups that are aligned with the company’s focus areas.

Maruti Suzuki launched the diesel variant of its 14-month-old Celerio hatchback at an entry price of Rs 4.65 lakh (ex-showroom, Delhi).

Infosys is looking at various means to incentivise employees and sales force, including introducing a employee stock option plan.

Tata Teleservices has reported a Rs 3,846-crore loss in 2014-15.

Bharti Airtel approached the global debt market on Wednesday to raise up to $1 billion in a 10-year bond sale programme.

Bharat Electronics is embarking on an expansion-cum-modernisation drive to explore new areas in the defence and non-defence sectors.

Prestige Estates Projects has reported 20% rise in net profit at Rs 113.8 crore for the fourth quarter ended March 2015.

Indian Oil Corp (IOC) will next week import a shipload of crude oil from Iraq to fill up the nation's maiden strategic oil reserves to insulate it from supply disruptions.

Delhi government has banned the sale of popular instant noodles Maggi for 15 days and asked the Indian arm of Swiss manufacturer Nestle to withdraw the existing stock.

MARKET COMMENTARY

The markets are likely to open flat on Thursday following mixed trend across other Asian markets.

Markets continued its steep downfall and closed lower today as weak monsoon forecast raised fears of a drought while delay in further rate cuts and slow pace of recovery in the economy dampened sentiment.

Foreign brokerage CLSA has cut its year-end target for the BSE exchange’s benchmark Sensex index by 3% to 28,500, on rising concern over delayed pick-up in growth amid a rural slowdown.

Further, foreign portfolio investors sold shares worth a net Rs 727.61 crore yesterday as per provisional data.

GLOBAL MARKETS

US stocks rose on Wednesday, helped by optimism that Greece was close to an agreement to avoid default and as further gains in bond yields lifted financials.

The S&P financial index climbed 0.7% and was among the day's top sector performers as US benchmark Treasury debt yields jumped to seven-month highs, extending recent gains.

Japan's Nikkei and South Korea's Kospi both gained 0.3%, while Australian shares added 0.2%.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed.


With Reuters input