Moneycontrol
Last Updated : Sep 11, 2018 09:28 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 8-9% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 21 points or 0.18 percent. Nifty futures were trading around 11,465-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-negative note on Tuesday following a mixed trend seen in other Asian markets. The index closed 151 points lower at 11,438 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 21 points or 0.18 percent. Nifty futures were trading around 11,465-level on the Singaporean Exchange.

US stocks mostly edged higher on Monday, with the S&P 500 and Nasdaq rebounding to snap a four-day losing streak, although a drop in Apple kept gains in check, said a Reuters report.

Asian shares were struggling to snap an eight-session losing streak on Tuesday as investors decided no news was good news on tariffs, while the pound touched a five-week top on hints a Brexit deal might be nearer, it said.

Stocks in news:

The Punjab National Bank (PNB) has recovered close to Rs 11,378 crore from its borrowers in the first five months of FY19: report

Sun Pharma: One of the wholly-owned subsidiaries of the company has agreed to acquire shares of Tarsius Pharma, Israel

Reliance Home Finance: Q1 profit rises to Rs 48 crore versus Rs 34 crore; revenue increases to Rs 404 crore from Rs 383 crore (YoY).

Rudra Global Infra Products: Q1 consolidated profit jumps to Rs 3.8 crore versus Rs 0.56 crore; revenue rises to Rs 144.05 crore versus Rs 80.40 crore (YoY).

Jaiprakash Associates: ICICI Bank has filed petition under section 7 of the Insolvency and Bankruptcy Code, 2016 against the company. The company has been given time to file its reply within seven days and the matter is listed for September 17, 2018.

Yes Bank’s board and shareholders approve raising Rs 30,000 crores via debt

Morgan Stanley France SAS sold 14,80,050 shares of Balrampur Chini at Rs 78.32 on the NSE.

Technical Recommendations:

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

Mahindra CIE Automotive Ltd: Buy| LTP: Rs 297.80| Target Rs. 325 | Stop-Loss: Rs 285 | Return 9%

ABB India Ltd: Buy| LTP: Rs 1373| Target: Rs. 1480 | Stop-Loss: Rs 1300 | Return 8%

Manappuram Finance Ltd: Sell| LTP: 91| Target: Rs. 84 | Stop-Loss: Rs 95 | Return 8%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their 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 11, 2018 08:47 am
Loading...
Sections
Follow us on
Available On