Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which can give up to 12% return

The Nifty50 is expected to open flat on Thursday following muted trend seen in other Asian markets. The Nifty50 closed 23 points higher at 10,741 on Wednesday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 10.5 points or 0.1 percent. Nifty futures were trading around 10,761-level on the Singaporean Exchange.

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following US President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran, said a Reuters report.

Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after US President Donald Trump’s decision to pull out of a nuclear deal with Iran.

Oil prices rose about 3 percent on Wednesday and hit fresh 3-1/2 year highs after a bigger-than-expected drawdown in US oil inventories extended gains from the United States’ decision to quit a nuclear deal with Iran, added the Reuters report.

Stocks in news:

Ex-split: Gala Global Products

Ex-bonus: United Drilling & Gala Global Products

Ex-dividend: JM Financial & Sundaram Finance

Cipla partners with MannKind for exclusive marketing, distribution of Afrezza

Va Tech Wabag secures repeat order worth Rs 296 crore from Delhi Jal Board

Welspun Enterprises emerges as lowest bidder (L-I) at bid price of Rs 1,837.32 crore

EID Parry: Company's Q4 net profit down 86.43 percent

Federal Bank: Q4 profit down 44% YoY at Rs 145 cr on jump in provisions, bad loans

Eicher Motors: Flat growth in Q4 net profit at Rs 461.5 crore.

JSPL: Widens net loss to Rs 426.4 crore for the March quarter.

Magma Fincorp posts Q4 net profit at Rs 71.48 crore

Technical Recommendations:

We spoke to Bonanza Portfolio Ltd and here’s what they have to recommend:

L&T Infotech Ltd: BUY| Target RS.1700|Stop Loss Rs.1467|Return 10%

Arvind Ltd: BUY| Target RS.481|Stop Loss Rs.414|Return 10%

ICICI Prudential Ltd: BUY| Target RS.506|Stop Loss Rs.429|Return 12%

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