Moneycontrol
Last Updated : Aug 23, 2018 08:40 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-11% return

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a gain of 8 points or 0.07 percent. Nifty futures were trading around 11,636- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-positive note on Monday following mixed trend seen in other Asian markets. The index closed 19 points higher at 11,570 on Tuesday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a gain of 8 points or 0.07 percent. Nifty futures were trading around 11,636- level on the Singaporean Exchange.

US stocks were mixed on Wednesday, with the Nasdaq gaining on the strength of tech stocks while the S&P 500 was little changed as it marked its longest bull-market run, said a Reuters report.

Asian shares started cautiously on Thursday as a deadline loomed for fresh US tariffs on China and amid speculation US President Donald Trump’s political position could be threatened by the legal woes of two former advisers, it said.

Stocks in news:

Lupin receives tentative FDA approval for generic Nudovra Tablets

HDFC Asset Management Company: Q1 profit rises to Rs 205.26 crore versus Rs 164.57 crore; revenue rises to Rs 471.23 crore versus Rs 390.42 crore (YoY).

Motilal Oswal Financial Services: Q1 profit falls to Rs 104.36 crore versus Rs 126.53 crore; revenue rises to Rs 646.47 crore versus Rs 588.25 crore (YoY).

Shares of microfinance firm CreditAccess Grameen, which has concluded Rs 1,131-crore initial public offer (IPO), will make a debut on stock exchanges on Thursday. The IPO was subscribed more than two times during the August 8-10 offer period.

Motilal Oswal Financial Services: Company has transferred its lending business by way of a slump sale on a going concern basis, to its wholly owned subsidiary, Motilal Oswal Capital Markets (MOCML) as contemplated in the business transfer agreement at a consideration of Rs 50 crore

Sterlite Technologies - ICRA upgraded rating on NCD & long term rating for the line of credit (LOC) of the Company to ICRA AA from ICRA AA-

Orchid Pharma: Q4FY18 loss narrows to Rs 92.37 crore versus 188.3 crore; revenue falls to Rs 155.8 crore versus Rs 204.88 crore (YoY).

Technical Ideas:

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

Torrent Power Ltd: BUY | Close: 249.60 | Target: Rs 270 | Stop loss: Rs 235 | Return: 8.15%

Wockhardt Ltd: BUY | Close: 644.40 | Target: Rs 683 | Stop loss: Rs 619 | Return: 5.99%

Tata Motors: BUY| Close: 268.80 | Target Rs. 310 | Stop Loss Rs. 252 | Return 11.61%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are his own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

First Published on Aug 23, 2018 08:39 am
Sections
Follow us on
Available On