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Last Updated : May 28, 2019 08:47 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 12-15% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 2.5 points or 0.02 percent. Nifty futures were trading around 11,921-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat on Tuesday following positive trend seen in other Asian markets. Financial markets the U.K. and U.S. closed for holidays.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 2.5 points or 0.02 percent. Nifty futures were trading around 11,921-level on the Singaporean Exchange.

As many as 383 companies will declare their results for the quarter ended March which include names like Adani Transmission, Amtek Auto, Aurobindo Pharma, Emkay Global, JBM Auto, Jaiprakash Associates, Kwality, Max Financial Services, Pfizer, Punjab National Bank and TeamLease Services among others.

Close

The interbank foreign exchange, the domestic unit opened higher at 69.40 and further went to touch the day’s high of 69.34

On the institutional front, FPIs were net buyers in Indian markets for Rs 1215 crore while DIIs were net sellers to the tune of Rs 327 crore, provisional data showed.

Stocks in news:

Zee Entertainment Enterprises' fourth-quarter net profit increased 26.8 percent to Rs 292.5 crore, beating analyst estimates on every parametres.

InterGlobe Aviation, which runs IndiGo, on Monday reported a fivefold, or 401 percent, surge in profit at Rs 589.60 crore for March quarter compared with Rs 117.60 crore in the same quarter last year.

Adani Ports and SEZ on Monday reported a 38.69 percent year-on-year rise in consolidated profit at Rs 1,285.38 crore for the quarter ended March 31. The port operator had posted a net of Rs 926.77 crore (attributable to shareholders) in the corresponding quarter last year.

Reliance Capital Group to divest entire stake in Big 92.7 FM Radio Business to Music Broadcast Limited. Music Broadcast Limited is a part of the media conglomerate – Jagran Prakashan Group, and the transaction will reduce reliance capital’s debt by an estimated Rs.1,200 crore.

Technical View:

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

RBL Bank Ltd: Buy| LTP: Rs 697| Target: Rs 781 | Stop-Loss: Rs 638 | Upside 12%

HSIL: Buy| LTP: Rs 299| Target: Rs 345| Stop-Loss: Rs 280 | Upside 15%

Surya Roshni: Buy| LTP: Rs 262| Target: Rs 300| Stop-Loss: Rs 242| Upside 15%

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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First Published on May 28, 2019 08:44 am
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