Moneycontrol
Last Updated : Nov 02, 2018 08:41 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 7-8% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 80 points or 0.77 percent. Nifty futures were trading around 10,495-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday tracking positive trend seen in other Asian markets. The index closed 6 points lower at 10,380 on Thursday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 80 points or 0.77 percent. Nifty futures were trading around 10,495-level on the Singaporean Exchange.

US stocks rose for a third straight session on Thursday as President Donald Trump said trade talks with China were “moving along nicely,” reviving hopes that the two countries can resolve their trade dispute, said a Reuters report.

Asian equity markets rose on Friday as China and the United States expressed optimism about resolving their bruising trade war, though a warning from tech giant Apple Inc on holiday sales amid emerging market weakness could weigh on technology shares, it said.

On the earnings front, as many as 228 companies will be reporting their results for the quarter ended September which include names like Allahabad Bank, Axis Bank, Bata India, Max India, NTPC, SAIL, Sun TV, Tata Chemicals, V-Mart and TV Today among others.

Stocks in news:

IIFL Holdings Q2: Consolidated profit rises to Rs 304 crore versus Rs 234.15 crore; revenue increases to Rs 1,832.2 crore versus Rs 1,607.6 crore YoY.

Berger Paints Q2: Consolidated profit climbs to Rs 117.3 crore versus Rs 111.3 crore; revenue jumps to Rs 1,490 crore versus Rs 1,282 crore YoY.

Ador Welding Q2: Profit rises to Rs 6.74 crore versus Rs 5.49 crore; revenue increases to Rs 125.34 crore versus Rs 121.67 crore YoY.

India Glycols Q2: Profit jumps to Rs 43.66 crore versus Rs 14.69 crore; revenue increases to Rs 1,360 crore versus Rs 1,163 crore YoY.

HPCL Q2: Profit falls 36.5 percent to Rs 1,092 crore versus Rs 1,719.2 crore; revenue rises 0.3 percent to Rs 67,517.9 crore versus Rs 67,311.5 crore.

Technical Recommendations:

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

Axis Bank Ltd: Buy| Target: Rs 652| Stop Loss: Rs 585| Returns 7%

Berger Paints Ltd: Buy| Target: Rs 314| Stop Loss: Rs 284| Returns 7%

BPCL: Target: Rs 308| Stop Loss: Rs 275| Returns 8%

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 2, 2018 08:41 am
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