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Last Updated : Oct 16, 2018 08:53 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 9-11%

Trends on SGX Nifty currently indicate a higher opening for the market here. The futures are trading around 10,540, up around 25 points.

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The Nifty50 is likely to open higher on Tuiesday following positive trend seen in other Asian markets. The index closed 40 points higher at 10,512 on Monday.

Trends on SGX Nifty currently indicate a higher opening for the market here. The futures are trading around 10,540, up around 25 points.

Equities in the US ended lower in a choppy trading session on Monday, dragged down by technology stocks amid lingering worries over interest rates and corporate earnings, Reuters reported.

Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns and capped gains, it added.

Stocks in news:

Results today: Infosys, Hero MotoCorp, CRISIL, Federal Bank, Shakti Pumps, Jammu & Kashmir Bank, Mahindra CIE

Dr Reddys Laboratories announced it has received the approval of the US Food and Drug Administration to market aspirin and dipyridamole capsules. The aggrenox brand and the generic drug registered sales of approximately $183 million MAT (moving annual turnover) in the American market for the 12 months ending August 2018, the release added.

Drug firm Lupin said it has received tentative nod from the US health regulator to market its antipsychotic Lurasidone Hydrochloride tablets in the US market. The druf registered an annual sales of around $3,116 million in the US, Lupin said.

Big bull Rakesh Jhunjhunwala raised his stake in housing finance company DHFL during July-September quarter when the stock crashed 57 percent on the back of IL&FS-led liquidity crisis fears in the NBFC space. The ace investor increased his stake in the company by 43 basis points to 3.19 percent from 2.76 percent recorded in the June quarter.

TV Today Network: India Today Online Private Limited (ITOPL), a non-material, wholly owned subsidiary of the company, has received separate notice of demands to tune of Rs 26 crore and Rs 43.24 crore for AY2013-14&2014-15 respectively from Income Tax Department.

Technical Recommendations:

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

KNR Construction Ltd: Buy| LTP: Rs 188| Target: Rs 205 | Stop-Loss Rs 178 | Return 9%

Nucleus Soft: Buy| LTP: Rs 380| Target: Rs 420 | Stop-Loss: Rs 360| Return 11%

PNB Housing: Buy| LTP: Rs 930| Target: Rs. 1,010 | Stop-Loss: Rs 880| Return 9%

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 16, 2018 08:47 am
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