Moneycontrol
Last Updated : Nov 06, 2018 08:38 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 9-15% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 35 points or 0.33 percent. Nifty futures were trading around 10,595-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat-to-higher on Tuesday following positive trend seen in other Asian markets. The index closed 29 points lower at 10,524 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 35 points or 0.33 percent. Nifty futures were trading around 10,595-level on the Singaporean Exchange.

The S&P 500 rose on Monday with boosts from financial, energy and defensive sectors as investors showed some caution on the eve of US congressional elections, said a Reuters report.

Asian shares ticked up in early Tuesday trade, supported by Wall Street gains although sentiment was tempered ahead of the US midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies, it said.

As many as 46 companies are scheduled to report its results for the quarter ended September which include names like Camlin Fine, Balmer Lawrie, Graphite India, JK Industries, Dr Lal Pathlabs, Manappuram Finance and Voltas among others.

Stocks in news:

Eveready Q2: Its net profit fell 32 percent year on year at Rs 25 crore. The revenue fell 4 percent at Rs 383.5 crore.

Wipro announced a new partnership with Check Point Software Technologies

Sheela Foam Q2: Net profit falls 30 percent at Rs 22 crore. The revenue rose 10 percent at Rs 449.9 crore.

Deutsche Bank and HCL Technologies join forces to transform cheque processing operations

Inox Wind Q2: The consolidated net profit was reported at Rs 1.5 crore. Revenue rose to Rs 436.6 crore against Rs 79.5 crore last year.

Hindustan Construction board approved issue of equity shares by way of a rights issue

The meeting of rights issue committee will be held on Nov 12

Technical Recommendations:

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

Sterlite Technologies Ltd: Buy| LTP: Rs 364| Target: Rs 420 | Stop-Loss: Rs 340 | Return 15%

Torrent Power Ltd: Buy| LTP: Rs 265 | Target: Rs 290 | Stop-Loss: Rs 248 | Return 9%

Coromandel International Ltd: Buy| LTP: Rs 430 |Target: Rs 475| Stop-Loss: Rs 405 | Return 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.
First Published on Nov 6, 2018 08:38 am
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