Moneycontrol
Last Updated : Sep 04, 2018 09:40 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 percent. Nifty futures were trading around 11,629-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty is likely to open on a flat note on Tuesday following muted trend seen in other Asian markets. The index closed 98 points lower at 11,582 on Monday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 percent. Nifty futures were trading around 11,629-level on the Singaporean Exchange.

Asian shares fell in early trade on Tuesday, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets, said a Reuters report.

The Indian rupee, on Monday, closed at a record closing low of 71.21 on the back of overseas fund outflows even as GDP data saw a robust growth for the April-June quarter of current fiscal.

Stocks in news:

VST Tillers Tractors Ltd's tractor sales drops nearly 50% in August 2018 on a YoY basis

Telecom major Vodafone Idea Limited Monday raised Rs 1,500 crore fund through non-convertible debentures on private placement basis -- first debt after its incorporation.

Kolkata-based cigarettes-to-cookie maker ITC plans to launch ready-to-drink, milk-based beverages that will compete with the likes of Coca-Cola, Amul and Britannia next month.

Idea Cellular allotted NCD worth Rs 1500 crore

Reliance Capital board meeting on September 11 to consider and approve the unaudited financial results of the Company for the quarter ended June 30, 2018.

Axis Bank: The lender allots over 2 lakh shares at Rs 2 each under its employee stock options scheme (ESOPs).

Jet Airways - ICRA revised long term rating to ICRA BB from ICRA BB+

Persistent Systems: The company has acquired Herald Tech.

Hotel Leela Ventures clarified on media report that company is in coordination with JM Financial has been evaluating various options for viable restructuring, Including sale/monetisation of non core assets, sale of hotels, or getting equity from a strategic investor for reduction of debt

Technical Recommendations:

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

Escorts Ltd: Sell| LTP: Rs 832| Target: Rs 777| Stop-Loss: Rs 880| Return 7%

Engineers India Ltd: Buy| LTP: Rs 135.50| Target: Rs 148| Stop-Loss: Rs 127| Return 9%

Wipro Ltd: Buy| LTP: Rs 309| Target Rs: 335 | Stop-Loss: Rs 293 | Return 8.4%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are their 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 Sep 4, 2018 08:43 am
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