After opening in the red, the domestic stock market staged a smart recovery and ended with sharp gains on Tuesday, owing to encouraging Services PMI numbers, fall in crude oil prices and gains in rupee against the US dollar.

At 07:43 am, Nifty futures on SGX (Singapore Exchange) were trading 22 points or 0.20 per cent higher at 11,055, indicating a firm opening for the markets on Wednesday.

Here's a look at the top stocks that may remain in focus today -

Sun Pharma: Shares of Sun Pharma may hog the limelight on Wednesday as the Securities and Exchange Board of India (Sebi) has sought an explanation from the company on the alleged fund diversion of Rs 42,000 crore through its key distributor and subsidiary Aditya Mediasales (AML).

Tech Mahindra: The IT company will decide today the names of shareholders who would be eligible to participate in the company's Rs 1,956 crore share buyback.

DHFL: According to news reports, DHFL released independent CA report on CobraPost allegations. The findings suggest that the company has not created shell companies and diverted funds. Moreover, the auditor did find merit in allegations of loans said to be part of Sahana group and/or Wadhawan group.

Quick Heal: The company has approved a proposal to buyback up to 63,63,636 equity shares, being 9.02 per cent of the total paid up equity share capital of the firm, for an aggregate amount not exceeding Rs 175 crore.

ITC: The company said it has revised prices of some of its cigarette brands.

Bank of Baroda: The lender on Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper. The bank has reduced the lending rate by 10 basis points across all tenors up to one year.

ICICI Bank, SBI: The Reserve Bank of India (RBI) has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT.

Reliance Capital: The company on Tuesday informed that Icra has revised its rating by one notch to A1 for the short-term debt programme of the company due to delay in monetising non-core investments.

NBFCs: Non-banking financial companies (NBFCs) may remain in focus as the Reserve Bank of India (RBI) is drawing up a new code for them which envisages curbs on the licensing and businesses of bank-led units, parity in CEO remuneration package with that of private banks, and a gradual shift to the risk-based supervision (RBS) system.

OMCs: Oil marketing companies (OMCs) may remain in focus today as the crude oil prices slipped over 0.5 per cent on Wednesday.