Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 11,709-level on the Singaporean Exchange.
Nifty50 is likely to open flat-to-negative on Thursday following muted trend seen in other Asian markets. The index closed 150 points higher at 11,726 on Wednesday.
Trends on SGX Nifty indicate a negative opening, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 11,709-level on the Singaporean Exchange.
The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports, said a Reuters report.
Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week, it said.
As many as 22 companies will declare their results for the quarter ended March which include names like Axis Bank, Cyient, Indiabulls Ventures, Maruti Suzuki, Nestle India, Tata Steel and Rallis India among others.
Drug firm Ipca Laboratories on April 24 said it has entered into a pact to buy Maharashtra-based Ramdev Chemical for Rs 108.5 crore. RCPL is engaged in the manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients (APIs).
Mahindra Finance on April 24 reported an 87 percent rise in net profit to Rs 588 crore for the fourth quarter ended March 2019. The board has recommended a dividend of Rs 4 or 200 percent per share and also a special dividend of Rs 2.50 aggregating Rs 6.50 per share.
ICICI Prudential Life Insurance on April 24 reported a 23 percent decline in consolidated net profit at Rs 261.02 crore for the January-March quarter of 2018-19.
We spoke to Bonanza Portfolio and here's what they have to recommend:
M&M Finance: Buy| LTP: Rs 433.35 | Target: Rs 463| Stop Loss: Rs.416| Upside 8%
Piramal Enterprises Ltd: Buy| LTP: Rs 2565 | Target: Rs 2770 | Stop Loss: Rs 2449| Upside 8%
Dishman Carbogen: Buy| LTP: Rs. 225.30| Target: Rs 247| Stop Loss: Rs 214| Upside 10%Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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