Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which can give up to 11% return

The Nifty50 is expected to open flat on Tuesday following muted trend seen in SGX Nifty. But, positive handover from Wall Street and stable Asian markets may push the index higher. The Nifty closed 47 points higher at 10,528.35 on Monday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 3 points. Nifty futures were trading around 10,544-level on the Singapore Stock Exchange.

US stocks closed higher on Monday, with the biggest boosts from technology and healthcare sectors as investors were optimistic about earnings season and appeared less worried about US-led missile attacks in Syria, Reuters reported.

The Dow Jones Industrial Average rose 212.9 points, or 0.87 percent, to 24,573.04, the S&P 500 gained 21.54 points, or 0.81 percent, to 2,677.84 and the Nasdaq Composite added 49.64 points, or 0.7 percent, to 7,156.29.

Asia stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China amid signs Western-led strikes on Syria weren’t likely to escalate, a Reuters report said.

Stocks in news:

Cipla: USFDA conducts inspection at Indore facility

Bajaj Electricals: Company wins orders worth Rs 3,577.93 crore as part of govt’s Saubhagya Yojna

Fortis Healthcare: The company said that the Board will meet this week to look at eligible options.

Reliance Communications: No legal restriction any more to proceed with sale of spectrum, MCNs & real estate.

Adani Ports: Signs A Long Term Regasification Pact With Indian Oil For Dhamra LNG Terminal

Results in focus: CRISIL, Muthoot Capital, Orchid Pharma, and Tata Sponge Iron, among 9 companies declaring results on Tuesday.

Sobha: Company to invest Rs 500 crore for residential project in GIFT City, Gujarat.

Sterlite Technologies: Board to consider raising funds through issue of securities on April 25

Technical Recommendations:

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

Tata Global: BUY| Target Rs. 300 | Stop-loss Rs 268 | Return 7%

JAI CORP: BUY| Target Rs. 181 | Stop-loss Rs 154 | Return 11%

GENUS POWER: BUY| Target Rs. 62 | Stop-loss Rs 54 | Return 8%

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