Moneycontrol
Last Updated : Aug 01, 2018 08:41 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to hit record high; 3 stocks which could give 4-15% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 22.5 points or 0.2 percent. Nifty futures were trading around 11,399.50- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher and may even hit record highs on Wednesday following positive trend seen in other Asian markets. The index closed 36 points higher at 11,356 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 22.5 points or 0.2 percent. Nifty futures were trading around 11,399.50- level on the Singaporean Exchange.

US stocks rebounded on Tuesday, boosted by gains in industrial shares following reports of renewed trade negotiations between the United States and China, said a Reuters report.

Asian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today, it said.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade, while Japan's Nikkei stock index gained 0.5 percent. S&P E-mini futures were up a hair at 2818.

On the earnings front, as many as 51 companies will report results for the quarter ended June on Wednesday which include names like Apollo Tyres, Emami, Exide Industries, HEG, Gravita India, Jindal Saw, Orient Cement, Tata Global Beverages, Torrent Power and Zuari Agro among others.

Stocks in news:

Tata Motors: Q1 consolidated loss at Rs 1,863 crore versus adjusted loss of Rs 438 crore; revenue rises 14.7 percent to Rs 67,081 crore versus Rs 58,493 crore; JLR net loss at 210 million pound while standalone profit at Rs 1,188 crore versus loss of Rs 463 crore (YoY).

Vedanta: Q1 consolidated profit rises 0.7 percent to Rs 2,248 crore versus Rs 2,233 crore; revenue jumps 21.4 percent to Rs 22,206 crore versus Rs 18,285 crore (YoY).

Jagran Prakashan: Q1 net profit falls 0.4 percent to Rs 88.4 crore versus Rs 88.7 crore; revenue rises 1.9 percent to Rs 602.5 crore versus Rs 591.3 crore (YoY)

Power Grid: Q1 net profit up at Rs 2,240.5 crore against Rs 2,052.4 crore; revenue up 13.2% at Rs 8,127 crore versus Rs 7,181.4 crore

RIL wins arbitration award in gas dispute with govt

Mahanagar Gas: Q1 profit increases 3.2 percent to Rs 128 crore versus Rs 124.3 crore; revenue climbs 16.7 percent to Rs 619.4 crore versus Rs 530.9 crore (YoY).

IIFL Holdings: Q1 consolidated profit jumps to Rs 344.54 crore versus Rs 252.71 crore; revenue rises to Rs 1,768 crore versus Rs 1,418.5 crore (YoY).

Technical Recommendations:

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

Puravankara Ltd: BUY | Close: 105.75 | Target: Rs 122 | Stop loss: Rs 95 | Return: 15.37%

Mahindra & Mahindra Ltd: BUY | Close: 935.95 | Target: Rs 974 | Stop loss: Rs 910 | Return: 4.07%

Container Corporation of India Ltd: BUY | Close: 669.30 | Target: Rs 712 | Stop loss: Rs 640 | Return: 7.58%

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 Aug 1, 2018 08:41 am
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