Moneycontrol
Last Updated : Sep 25, 2018 08:40 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 8-10%

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-negative note on Tuesday following mixed trend seen ina other Asian markets. The index closed 175 points lower at 10,967 on Monday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.

The S&P 500 and the Dow closed lower on Monday after a new round of US-China trade tariffs kicked in, dampening last week’s hopes for talks between the two countries, and as investors awaited a widely expected interest rate hike by the Federal Reserve, said a Reuters note.

Asia stocks struggled on Tuesday as the latest round of US-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases, it said.

Stocks in news:

Kajaria Ceramics: Board approved acquisition of 30 lakh equity shares of Kajaria Floera Ceramics Private Limited (Fleora), a subsidiary company and approved incorporation of a wholly-owned subsidiary company in USA by making investment/loan not exceeding $1 million.

Unichem Laboratories: ICRA assigned a long-term rating of A+ with a stable outlook for Rs 30 crore Line of Credit (LOC) of the company.

Vakrangee clarified that company has not received any communication with respect to inspection of Books from Ministry of Corporate Affairs

Adlabs Entertainment: Company to develop and operate a new entertainment park in Amaravathi, Andhra Pradesh.

Mangalam Drugs & Organics: Company received the final approval from WHO for the drug Efavirenz.

ABB: Company launched its most economical charging solution for electric vehicles.

Technical Recommendations:

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

Axis Bank: LTP: Rs 597| Buy| Target: Rs. 645 | Stop-Loss Rs 570 | Return 8%

Deepak Nitrite: Buy| LTP: Rs 270| Target: Rs. 295 | Stop-Loss Rs 255 | Return 9%

Karnataka Bank: Sell| LTP: Rs 101| Target: Rs. 90 | Stop-Loss: Rs 106 | Return 10%

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 25, 2018 08:40 am
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