Moneycontrol
Last Updated : Oct 09, 2018 08:42 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 8-12%

Trends on SGX Nifty indicate a falt to negative opening for the broader index in India, a fall of 10 points or 0.1 percent. Nifty futures were trading around 10,357-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following a mixed trend seen in other Asian markets. The index closed 31 points higher at 10,348 on Monday.

Trends on SGX Nifty indicate a falt to negative opflatg for the broader index in India, a fall of 10 points or 0.1 percent. Nifty futures were trading around 10,357-level on the Singaporean Exchange.

The tech-heavy Nasdaq fell on Monday for the third straight day as a sell-off in Chinese markets sparked concerns about slowing global economic growth, though the S&P 500 pared losses to end nearly flat, said a Reuters report.

Asian shares hit 17-month lows on Tuesday as investors fretted about everything from the Chinese economy, to trade wars, higher US bond yields and political dysfunction in Europe, it said.

Stocks in news:

IL&FS Financial Services: The company has said that it will be unable to service obligations w.r.t inter-corporate deposit of Rs 20 crore due on October 8.

Tata Motors will be in focus after Jaguar Land Rover global sales declined 12.3% in September, hit by lower demand in China.

Tata Elxsi Standalone September 2018 net sales rose by 17% to Rs 402 crore while the net profit saw a growth of 43.5% for September quarter to Rs 82 crore

Federal Bank gets RBI nod to sell 45% stake in NBFC arm to True North

NBCC executed an MoU with Rajasthan government for redevelopment of old MREC campus in Jaipur for Rs 250 crore

Britannia Industries approved the scheme of arrangement of company and their respective shareholders

NCL Industries’ September Quarter Updates: Cement dispatches were up by 32 percent at 4.88 lakh MT versus 3.69 lakh MT.

Sadbhav Infra Project subsidiary won an arbitration award against NHAI of Rs 110.50 crore

Technical Recommendations:

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

Chennai Petro Ltd: Sell| LTP: Rs 232 | Target: Rs. 205 | Stop-Loss: Rs 250 | Return 12%

Marico: Buy| LTP: Rs 310 | Target: Rs. 335| Stop-Loss: Rs 294 | Return 8%

Bata India: Buy| LTP: Rs 894 | Target: Rs. 970| Stop-Loss: Rs 844 | Return 8.5%

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.
First Published on Oct 9, 2018 08:41 am
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