Auto stocks in focus after Maruti to hike prices

Markets are likely to extend gains on Friday tracking firm Asian cues and overnight gains on Wall Street.

At 8:30am, The early indicator, the SGX Nifty is down 12 points at 7,687.

"The Indian markets are expected to open with a positive note tracking global cues. The US markets were up on Thursday after a couple of day's loss. Asian markets are mixed as investors are awaiting Chinese retail sales and industrial production data over the weekend," Geojit BNP Paribas Financial Services said in a note.

Investors will keenly await October's industrial production data, which is expected to be announced after market hours. Indian industrial output was forecast to rise 7.8% annually in October, its strongest pace in more than three years and much faster than the 3.6% seen in September.

Asian markets were trading mixed with Nikkei up nearly 1% while Shanghai Composite was trading 0.7% lower. Further, Straits Times and Hang Seng were trading with marginal losses.

US stocks ended higher on Thursday with Dow Jones industrial average up 0.5% at 17,575 while the broader S&P 500 gained 0.2% at 2,052 and the tech-laden Nasdaq ended 0.4% higher at 5,045.

STOCKS IN FOCUS

Maruti Suzuki may gain after the country's largest carmaker will hike prices of its vehicles across models by up to Rs 20,000 from January to offset impact of rising costs and weakening of rupee against dollar, joining rivals in making such a move.

Havells India may extend gains after the company on Thursday announced that it has sold 80% stake in Sylvania Malta, and Havells Exim Hong Kong to Shanghai Feilo Acoustics for Rs 1,340 crore. Havells had invested Rs 980 crore in both the subsidiaries.

Texmaco Rail is likely to firm up after the consortium with Japanese companies has won contract worth Rs 1,800 crore from Dedicated Freight Corridor Corporation of India for Signaling and Telecommunication System.

Shilpa Medicare may gain after the RBI approved investment up to 30% by FIIs/RPIs under the Portfolio Investment Scheme.

Titan Company may also firm up after the RBI approved investment up to 35% by FIIs/RPIs under the Portfolio Investment Scheme.

Hospital stocks may gain after Narayan Hrudayalaya decided to launch its initial public offering (IPO) on December 17. The company, founded by well-known philanthropist and a cardiac surgeon Devi Shetty.

Maruti Suzuki India Limited