Moneycontrol
Last Updated : Aug 10, 2018 08:45 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 11,485-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Friday following muted trend seen in other Asian markets. The index closed 20 points higher at 11,470 on Thursday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 11,485-level on the Singaporean Exchange.

The S&P 500 and Dow ended down slightly on Thursday as gains in Apple and Amazon were offset by losses in energy and financial shares, said a Reuters report.

The Dow Jones Industrial Average fell 74.52 points, or 0.29 percent, to 25,509.23, the S&P 500 lost 4.12 points, or 0.14 percent, to 2,853.58 and the Nasdaq Composite added 3.46 points, or 0.04 percent, to 7,891.78.

Asian stock markets fell amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia’s rouble after the United States slapped new sanctions, and as economic worries sent the Turkish lira tumbling, added the report.

As many as 377 companies will report their results for quarter ended June which include names like Alkem Laboratories, Andhra Bank, Apollo Hospitals, BOSCH, DLF, GAIL India, Hindalco Industries, Dr Lal Pathlabs, NHPC, State Bank of India, Sun TV, United Breweries, UCO Bank and Voltas among others.

Stocks in news:

Eicher Motors: Q1 profit rises 25.4 percent to Rs 576.2 crore versus Rs 459.6 crore; revenue increases 27.4 percent to Rs 2,547.8 crore versus Rs 2,000.6 crore (YoY).

Aurobindo Pharma: Q1 profit falls 12.1 percent to Rs 455.6 crore versus Rs 518.3 crore; revenue jumps 15.5 percent to Rs 4,250 crore versus Rs 3,678.7 crore (YoY).

Jindal Steel & Power: Q1 profit at Rs 180.8 crore versus loss of Rs 387.1 crore; revenue surges 70.5 percent to Rs 9,665.4 crore versus Rs 5,668.2 crore (YoY).

3M India: Q1 profit spikes 50.7 percent to Rs 99.1 crore versus Rs 66.1 crore; revenue increases 5.5 percent to Rs 700.7 crore versus Rs 664.4 crore (YoY).

Future Retail: Q1 profit rises 3.4 percent to Rs 153.1 crore versus Rs 148 crore; revenue falls 3.5 percent to Rs 4,538.7 crore versus Rs 4,705 crore (YoY).

Technical Recommendations:

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

Kansai Nerolac: Buy| Target: Rs 561| Stop Loss: Rs 492| Returns 9%

ACC: Buy| Target: Rs 1709| Stop Loss: Rs 1508| Returns 8.5%|

Infibeam Incorporation: Buy| Target: Rs 211| Stop Loss: Rs 181| Returns 10.2%

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 10, 2018 08:34 am
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