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Last Updated : Jun 20, 2019 08:58 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 11-13% return

Trends on SGX Nifty indicate a positive opening for the benchmark index in India, a rise of 37.50 points or 0.32 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Thursday following Asian markets which were trading firm.

The S&P BSE Sensex added 66.40 points to 39,112.74 while the Nifty50 ended flat at 11,691.50 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the benchmark index in India, a rise of 37.50 points or 0.32 percent. The Nifty futures were trading around 11,756-level on the Singaporean Exchange.

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Oil prices rose over 1 percent on Thursday as official data showed US crude stocks fell more than expected and as OPEC and other producers finally agreed a date for a meeting to discuss output cuts,said a Reuters report.

The S&P 500 approached a record high on Wednesday after the Federal Reserve signaled potential interest cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth, it added.

Stocks in news:

HDFC and Apollo Hospitals: Corporation to acquire up to 51.2 percent stake in Apollo Munich Health Insurance Company Limited and then is proposed to be merged with subsidiary HDFC ERGO General Insurance Company.

Adani Green Energy: Subsidiary Adani Renewable Energy Park (Gujarat) Limited received letters of award for 600 MW wind-solar hybrid power projects from Solar Energy Corporation of India.

Gallantt Ispat: Brickwork Ratings India assigned long term rating at BBB+ (Outlook - Stable) and short term rating at A2.

NTPC: Company wins 160 MW in SECI Rajasthan Tranche-II 750 MW solar tender.

Technical Recommendations:

We spoke to Sanctum Wealth Management and here’s what they have to recommend:

Infosys: Buy| LTP: Rs 751| Stop Loss: Rs 720| Target: Rs 850| Upside 13 percent

ICICI Bank: Buy| LTP: Rs 419| Stop Loss: Rs 405| Target: Rs 475| Upside 13 percent

Vinati Organics: Buy| CMP: Rs 2,108| Stop Loss: Rs 2,000| Target: Rs 2,350| Upside 11 percent0%

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 Jun 20, 2019 08:52 am
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