Shares of BHEL, Power Grid Corporation, BPCL, Coal India, IOC and ONGC will remain in focus on Thursday as these PSUs are set to announce Q4 results. It is pertinent to note that shares of these public sector undertakings witnessed a sharp upturn in recent months. With the BJP-led Government expected to give special impetus to infrastructure activity, order book and outlook forecast will be keenly observed by market participants. Despite most of these stocks surging to new peaks, analysts are recommending PSU stocks, expecting further headroom.

Sun Pharma poised near a key support

Sun Pharmaceutical Industries, which has been oscillating around its 200-day moving average of ₹586 in the last few days, is scheduled to release its FY14 results on Thursday. The stock has been range-bound between ₹555 and ₹650 since October 2013. Key supports are placed at ₹578 and ₹572. It has to hold above these supports to keep the positive sentiment intact. The outlook could turn bearish if the results fail to meet the market expectation and the stock declines below ₹572. Such a break can drag it lower to ₹480 or even to ₹465 in the coming weeks.

3 Tata Group cos to announce results today

Three Tata Group companies namely Tata Motors, Tata Power and Tata Investment Corporation are due to announce their FY14 results on Thursday. Tata Motors fell 1.7 per cent in the last session and is testing support at ₹428. A strong decline below this level will have short-term bearish implications for the stock and pull it down to ₹410 or ₹400. Important resistances to note are at ₹443 and ₹455 levels. Tata Power gained 3.7 per cent to close at ₹102, after remaining choppy over the past four days. Tata Investment inched 1 per cent to close at ₹528.3 on Wednesday.

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