Moneycontrol
Last Updated : May 08, 2018 08:54 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks that could return up to 11%

Trends on SGX Nifty indicate a flat-to-positive opening for the broader index in India. Nifty futures were trading around 10,756 on the Singaporean Exchange, 0.1 percent higher.

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Moneycontrol News 

The Nifty is expected to open higher on Tuesday following the positive trend seen in other Asian markets. The index closed 97 points higher at 10,715 on Monday.

Trends on SGX Nifty indicate a flat-to-positive opening for the broader index in India. Nifty futures were trading around 10,756 on the Singaporean Exchange, 0.1 percent higher.

Wall Street climbed on Monday, boosted by Apple's sixth straight day of gains and by a surge in oil prices to their highest since 2014, according to a report Reuters.

The Dow Jones Industrial Average rose 0.39 percent to end at 24,357.32, while the S&P 500 gained 0.35 percent to 2,672.63. Earlier, the S&P 500 was up as much as 0.75 percent. The Nasdaq Composite added 0.77 percent to end at 7,265.21.

Asian markets delivered a mixed bag on Tuesday, despite the positive cues from Wall Street, it said. The Nikkei 225 slipped 0.06 percent, while the Topix edged up by 0.16 percent in early trade. The benchmark Kospi added 0.56 percent.

Stocks in news:

ICICI Bank: Q4 net profit falls 50 percent on jump in NPAs, in line with expectation. Brokerages maintain their rating but slashed their target price for ICICI Bank post Q4 results.

Pfizer: Company posts Q4 net profit at Rs 104.51 crore

Firstsource: Q4 net profit rises to Rs 92.8 crore

Axis Bank: The lender has allotted 28,260 shares of Rs 2 each under the ESOP scheme.

Balrampur Chini: The Board will meet on May 19, 2018 to discuss the financial results.

Lupin: Receives FDA approval for generic Temovate ointment, 0.05 percent

Unichem Labs: Receives ANDA approval from US FDA for Valsartan tablets, USP. These are used to treat high blood pressure and congestive heart failure.

Bharti Infratel: The company and Indus will likely invest Rs 3,500 crore capex for FY19 ahead of their merger.

Technical Recommendations:

We spoke to HDFC Securities and here’s what they have recommended:

Tata Global Beverages: BUY| Target Rs 315 | Stop loss Rs 278 | Return 7 percent

Camlin Fine Sciences: BUY| Target Rs 128 | Stop loss Rs 108 | Return 11 percent

DCB Bank: BUY| Target Rs 206 | Stop loss Rs 198 | Return 5 percent

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.

For more, watch the Markets@Moneycontrol show as Moneycontrol Editor Santosh Nair talks to Anchal Pathak about the market trends to watch out for today.
First Published on May 8, 2018 08:54 am
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