Moneycontrol
Last Updated : Jan 08, 2019 08:53 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 10-16% return

Nifty Futures on Singaporean Exchange were trading mildly lower on Tuesday morning. They were trading a tad below 10,800-mark.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following mixed trend seen in other Asian markets. The index closed 44 points higher at 19,771 on Monday.

Nifty Futures on Singaporean Exchange were trading mildly lower on Tuesday morning. They were trading a tad below 10,800-mark.

US stocks rose in choppy trading on Monday as investors bet on US-China talks on trade. The Dow Jones Industrial Average climbed 98.18 points to 23,531.35 after briefly falling 131.57 points. The Nasdaq Composite advanced 1.26 percent to 6,823.47, posting its seventh positive session in eight, as Amazon shares rose more than 3 percent.

Asian shares rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching towards a trade deal and that U.S. Federal Reserve would halt its tightening if economic growth slows further, said a Reuters report.

The rupee pared early gains but managed to end 4 paise higher at 69.68 against the US dollar Monday following dovish stance by the Federal Reserve and rising hopes of a thaw in ongoing US-China trade tiff, PTI reported.

Stocks in news:

Bandhan Bank: Board approved amalgamation of Gruh Finance, subsidiary of HDFC, into the bank.

Macquarie:
Maintained ‘Neutral’ with a price target of Rs 540.

Acquisition of Gruh from minority shareholders’ point of view is wrong decision.

JPMorgan

Maintained ‘Neutral’ with a price target of Rs 525.

An expensive buy; merger synergies may be hard to come by

VST Tillers and Tractors: The Malur unit will be closed on January 8 and 9 due to the impact of strike and power shut down by BESCOM.

Technical Recommendations:

We spoke to HDFC Securities and here’s what they have to recommend:

Axis Bank: Buy| LTP: Rs 638| Target: Rs 704| Stop-Loss: Rs 603 | Return 10%

Action Construction Company: Buy| LTP: Rs 99| Target: Rs 113| Stop-Loss: Rs 90 | Return 14%

Coromandel International Ltd: Buy| LTP: Rs 460| Target: Rs 535| Stop-Loss: Rs 420| Return 16%

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 8, 2019 08:51 am
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