Moneycontrol
Last Updated : Aug 07, 2018 08:46 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-12% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 14.5 points or 0.13 percent. Nifty futures were trading around 11,444-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following muted trend seen in other Asian markets. The index closed 26 points higher at 11,387 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 14.5 points or 0.13 percent. Nifty futures were trading around 11,444-level on the Singaporean Exchange.

The three major US stock indexes closed higher on Monday as investors applauded a strong US earnings season with results from Berkshire Hathaway impressing and Facebook lifting Nasdaq after a report it was planning new services, said a Reuters report.

Asian stocks were largely steady on Tuesday, with worries over the US-China trade conflict offsetting support from earnings-led gains on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

The rupee on Monday skidded to its lowest in two weeks, falling by a staggering 28 paise to end at 68.88 against the US dollar on frantic demand for the US currency from importers and corporates.

Corporate results will be in focus today with as many as 138 companies likely to report their results for the quarter ended June which include names like Adani Enterprises, AU Small Finance, Bombay Dyeing, Prataap Snacks, Inox Wind, Motherson Sumi, Punjab National Bank and PTC India among others.

Stocks in news:

Adani Ports: Q1 profit falls 9.1 percent to Rs 697.4 crore versus Rs 767.5 crore; revenue declines 12.2 percent to Rs 2,411 crore versus Rs 2,745.1 crore (YoY).

Adani Power: Q1 net loss at Rs 825.2 crore versus loss of Rs 452.8 crore; revenue falls to Rs 3,829.7 crore versus Rs 5,543.4 crore (YoY).

Ujjivan Financial Services: Q1 consolidated profit at Rs 45 crore versus loss of Rs 75 crore; net interest income jumps 60.9 percent to Rs 222.4 crore (YoY).

Unichem Laboratories: Company's API manufacturing facility at Roha inspected by US FDA from July 30-August 3 and received 4 observations but company's business not impacted.

Sun Pharma: Company launches hypertension drug Kapspargo Sprinkle in US.

M&M - July production at 47, 605, sales at 44,563 and exports at 2550

Technical Recommendations:

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

Kalyani Steel: Buy| LTP: Rs 282| Target: Rs. 305 | Stop-Loss: Rs 270 | Return 8%

UPL: Buy| LTP: Rs 656| Target: Rs. 690 | Stop-Loss: Rs 635 | Return 5%

Deepak Nitrite: Buy| LTP: 250| Target: Rs 280 | Stop-Loss: Rs 235 | Return 12%

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 7, 2018 08:40 am
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