Moneycontrol
Last Updated : Aug 02, 2018 08:44 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 6-11% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 22.5 points or 0.2 percent. Nifty futures were trading around 11,399.50- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Thursday following muted trend seen in other Asian markets. The index closed 10 points lower at 11,346 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 22.5 points or 0.2 percent. Nifty futures were trading around 11,399.50- level on the Singaporean Exchange.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 3.5 points or 0.03 percent. Nifty futures were trading around 11,362-level on the Singaporean Exchange.

The S&P 500 and Dow slipped on Wednesday as gains in Apple shares were offset by a drop in energy and industrial companies, while the US Federal Reserve remained on course for an expected interest rate hike in September, said a Reuters report.

Asian stocks were little changed on Thursday, with sentiment fragile after the latest escalation in Sino-US trade war while global bond markets were rattled by Washington’s increased borrowing and Japan’s new tolerance for higher yields, it said.

On the earnings front, as many as 74 companies are scheduled to report results for quarter ended June which include names like Capital First, Godrej Properties, Indiabulls Housing Finance, Marico, MOIL, Mold Tek, ONGC, Pfizer, The Ramco Cements, Shakti Pumps, TCI and Visaka Industries among others.

Stocks in news:

ICICI Bank: RBI approves appointment of Sandeep Bakhshi as Wholetime Director designated as COO.

Kotak Mahindra Bank approved issue of PNCPS on a private placement basis aggregating to an issue size of up to Rs 500 crore

Tata Motors: Domestic sales rise 21 percent to 51,896 units versus 42,775 units, exports increase 44 percent to Rs 4,971 units versus 3,411 units (YoY).

BASF SE, Germany closes acquisition of businesses and assets from Bayer

Hero MotoCorp: July total sales rise 9.1 percent to 6.79 lakh units versus 6.23 lakh units (YoY).

Eicher Motors: Royal Enfield sales rise 7 percent to 69,063 units versus 64,459 units; exports increase 58 percent to 2,062 units versus 1,302 units (YoY).

Technical Recommendations:

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

Quess Corp Ltd: Buy| CMP: Rs 1015.10| Target Rs 1,094| Stop Loss Rs 1,049| Return 7.7%

Kalpataru Power Ltd: Buy| CMP: Rs 385.50 | Target Rs 424| Stop Loss Rs 366| Return 11%

Dr Reddy’s Lab Ltd: Buy| CMP: Rs 2175.70 | Target Rs 2,310| Stop Loss Rs 2,097| Return 6%

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 2, 2018 08:43 am
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