Market Headstart | Nifty likely to open flat; 3 stocks that could give 7-12% return

The Nifty50 is likely to open on a flat-to-positive note on Thursday following mixed trend seen in other Asian markets. The index closed 53 points higher at 10,855 on Wednesday.

A positive opening is likely as Nifty Futures on Singaporean Exchange were trading 21.5 points higher. The futures traded around 10,897-odd levels.

Wall Street rallied for a fourth session on Wednesday, propelled by Apple, chipmakers and other trade-sensitive stocks after signs of progress in trade talks between the United States and China, said a Reuters report.

Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war, it said.

As many as seven companies will be reporting their results for the quarter ended December on Thursday which include names like Bandhan Bank, TCS and Supreme Infrastructure among others.

Stocks in news:

Tata Steel BSL said its board has approved a proposal to raise up to Rs 24,000 crore through an issue of preference shares to Tata Steel on private placement basis.

State-run iron ore producer NMDC on January 9, said its board has approved a Rs 1,000-crore share buyback plan. It will buy back 10.20 crore shares at Rs 98 apiece from shareholders, the company stated in a BSE filing.

Hinduja group flagship firm Ashok Leyland said it has bagged orders for 2,580 buses from Institute of Road Transport, Chennai, Uttar Pradesh State Roadways Transport Corporation and Chandigarh Transport Undertaking.

Delta Corp Q3: Profit rises to at Rs 50.53 crore versus Rs 44.74 crore; revenue increases to Rs 205.81 crore versus Rs 162.17 crore YoY, driven by gaming operations.

Yes Bank: Board finalised names of potential candidates for the position of MD & CEO and will submit an application to the Reserve Bank of India on January 10, seeking approval for the appoinbnent of the new MD & CEO.

Technical Recommendations:

We spoke to Bonanza Portfolio and here’s what they have to recommend:

Tata Motors Ltd: Buy| CMP: Rs.183.05 | Target: Rs 198| Stop Loss Rs.176| Return 10%

ITC: Buy| CMP: Rs.290.40 | Target: Rs 312| Stop Loss: Rs.279| Return 7%

SPARC: Buy| CMP: Rs.186.50 | Target: Rs 209| Stop Loss Rs.177| Return 12%

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