The Nifty50 is seen positive start on Monday following Asian markets which were trading higher on the back of sharp rise seen in the US markets on Friday.
US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week, said a Reuters report.
Asian stocks rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump, it added.
Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 25 points or 0.23 percent. Nifty futures were trading around 11,079-level on the Singaporean Exchange.
CG Power and Industrial Solutions, Kwality, Opto Circuits, Dhruv Wellness, Glance Finance, Industrial Investment Trust, IITL Projects, Real Growth Commercial, Trident Tools are some of the companies which will declare their June quarter results on August 19.
Stocks in news:
Kotak Mahindra Bank: Lender cuts 3-month to 3-year MCLR by 10 bps.
Sundaram Clayton: Company announced shut down of Chennai unit on August 16-17 due to slowdown across sector.
Kridhan Infra: Associate company Vijay Nirman Company (VNC) wins orders worth Rs 145 crore for construction in GOA International Airport and Hyderabad International Airport.
NACL Industries: A new facility is being built at the Srikakulam site to meet the expected growth in demand for technicals as well as intermediates. This is also to mitigate input supply risk from China. Manufacturing of a new Intermediate has commenced at Srikakulam Plant in Q1.
Ujjivan Financial Services: Ujjivan Small Finance Bank proposes an initial public offering comprising a fresh issue of around Rs 1,200 crore.
Technical Recommendations:
We spoke to Axis Securities and here’s what they have to recommend:
Mahindra & Mahindra Financial Services Ltd: Buy| LTP: Rs 321.10| Target: Rs 333-340| Stop Loss: Rs 298| Upside 5-8%
Hero MotoCorp Ltd: Buy| LTP: Rs 2,669| Target: Rs 2770-2810| Stop Loss: Rs 2545| Upside 5-6%
IDFC First Bank Ltd: Buy| LTP: Rs 45.60| Target: Rs 48-50| Stop Loss: Rs 42| Upside 8-12%
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
