Moneycontrol
Last Updated : Aug 14, 2018 08:46 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 6-14% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 8 points or 0.07 percent. Nifty futures were trading around 11,382-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 73 points lower at 11,355 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 8 points or 0.07 percent. Nifty futures were trading around 11,382-level on the Singaporean Exchange.

Overnight, US stocks dropped as global jitters from Turkey’s plummeting currency spread to Wall Street while Asian markets were trading mixed

On the macroeconomic front, retail inflation rate eased in July, strengthening views that the Reserve Bank of India (RBI) will keep interest rates on hold.

On the earnings front, 1093 companies will report their results for quarter ended June later today which include names like Allahabad Bank, Bharat Dynamics, Emkay Global, Essar India, Finolex Cables, Gayatri Projects, GMR Infra, DB Realty, Dilip Buildcon, GVK power, Hathway Cable, Indiabulls Real Estate, IVRCL, JBF Industries, La Opala, MMTC, Sun Pharma and SpiceJet among others.

Stocks in news:

Tata Steel: Q1 profit more than doubles to Rs 1,933.8 crore versus Rs 921.1 crore; revenue rises 27.6 percent to Rs 37,832.8 crore versus Rs 29,657.3 crore (YoY).

Jet Airways clarified that the statement Jet lagged airline plans $400mn stake sale to PE is purely speculative in nature

Also Jet AUDITOR BSR may quit is issues are nor resolved are factually incorrect

Tata Chemicals: Q1 profit rises 8.2 percent to Rs 261.2 crore versus Rs 241.8 crore; revenue up 13 percent at Rs 2,769.1 crore versus Rs 2,451.5 crore (YoY).

Cupid: Q1 profit up 4.7 percent at Rs 4.5 crore versus Rs 4.3 crore; revenue down 8.5 percent at Rs 17.3 crore versus Rs 18.9 crore (YoY).

Shalby: Q1 profit up 59.2 percent at Rs 12.1 crore versus Rs 7.6 crore; revenue up 29.5 percent at Rs 116 crore versus Rs 89.6 crore (YoY).

Technical Recommendations:

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

Infosys: Buy| LTP: Rs 1409 | Target: Rs. 1495 | Stop-Loss: Rs 1347 | Return 6%

Everest Industries: Buy| LTP: Rs 552.5 | Target: Rs. 630| Stop-Loss: Rs 510| Return 14%

Crompton Consumers: Buy| LTP: Rs 267 | Target Rs.302 | Stop-Loss: Rs 250 | Return 13%

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 14, 2018 08:46 am
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