Moneycontrol
Last Updated : Sep 24, 2018 08:59 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 7-14%

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 22 points or 0.2 percent. Nifty futures were trading around 11,149-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty is likely to open on a flat-to-negative note on Monday following mixed trend seen in other Asian markets. The index closed 91 points lower at 11,143 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 22 points or 0.2 percent. Nifty futures were trading around 11,149-level on the Singaporean Exchange.

The S&P 500 and Dow reached record highs on Friday ahead of Monday's major sector reshuffle, capping a week that largely shrugged off trade worries.

Asia shares eased in holiday-thinned trading on Monday and the safe haven yen gained as China canceled upcoming tariff talks with the United States, while oil prices jumped after top producers including Russia ruled out boosting crude output.

Overseas investors have pulled out a massive Rs 15,365 crore ($2.1 billion) from the capital markets so far in September, after putting in funds during the previous two months, on widening current account deficit coupled with global trade tensions.

Stocks in news:

Tata Steel and Usha Martin: Usha Martin sold steel business to Tata Steel through a slump sale for Rs 4,300-4,700 crore.

Cipla: Company receives final approval for generic version of Impax Laboratories' Albenza (Albendazole tablets 200mg). It is an anthelmintic drug indicated for use in Treatment of parenchymal neurocysticercosis.

Infosys: Company partners with Google Cloud to develop data native intelligent enterprise.

DHFL: ICRA re-affirmed its credit ratings on company's commercial paper programme of Rs 15,000 crore as A1+; non-convertible debentures of Rs 17,655.12 crore as AAA/Stable; non-convertible debentures (public issue) of Rs 29,000 crore as AAA/Stable; Fixed Deposit Programme of Rs 20,000 crore as AAA/Stable and long term bank facilities of Rs 42,713.80 crore as AAA/Stable.

ICICI Bank: The bank proposed to acquire 8.85 percent stake in Avenues Payment India.

Biocon: Company's drug substance facility in Bangalore completed US FDA inspection with no observations.

Technical Recommendations:

We spoke to Choice Broking and here’s what they have to recommend:

Bharti Infratel Ltd: LTP: Rs 279.90| Buy @ 281.20| Stop Loss: Rs 263.20| Target: Rs 320| Return 14%

BPCL: LTP: Rs 375| Buy: 376.50| Stop Loss: Rs 348| Target: Rs 390-403| Return 7%

OIL: LTP: Rs 218| Buy at Rs 218.65-216.50| Stop Loss: Rs 209| Target: Rs 235| Return 8%

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 Sep 24, 2018 08:49 am
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