Moneycontrol
Last Updated : Jul 02, 2018 10:49 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 0.5 points or 0.02 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Monday tracking muted trend seen in other Asian markets. The index closed 125 points higher at 10,714 on Friday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 0.5 points or 0.02 percent. Nifty futures were trading around 10,691-level on the Singaporean Exchange.

Wall Street's major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over US international trade relations ebbed, said a Reuters report.

Asian stocks were narrowly mixed on Monday, the first trading day of the second half of the year, with trade tensions between the US and its trading partners still a key concern for investors. The Nikkei 225 slipped 0.23 percent as the consumer goods and utilities sectors logged declines, it said.

Oil prices fell on Monday, with a Reuters survey showing Saudi Arabia has boosted supplies to a near-record 10.7 million barrels per day (bpd) in a sign the world’s top crude exporter wants to make up for disruptions elsewhere.

Stocks in news:

Tata Motors total domestic sales jumps 54% to 56,773 units Vs 36,836 units, YoY

M&M total auto sales up 26% at 45,155 units Vs 35,759 units, YoY

Eicher Motors total VECV sales up 63% at 6,390 units Vs 3,921 units, YoY

Maruti Suzuki total sales up 36.3% at 1.44 lakh units Vs 1.06 lakh units, YoY

Bank Of Maharashtra: MD & CEO RP Marathe & ED RK Gupta divested of functional responsibilties

Reliance Industries to acquire Radisys

HDFC Bank: No plan to increase foreign branches at this point

IDBI Bank: IRDA approves LIC's investment proposal

TCS: Promoter and promoter group of company have communicated their intention to participate in buyback

Tata Steel and Thyssenkrupp sign definitive joint venture agreements to create new steel champion in Europe

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend:

Kolte-Patil Developers Ltd: Buy| Target: Rs 302 | Stop-loss: Rs 261 | Return: 10%

Edelweiss Financial Services Ltd: Buy | Target: Rs 313 | Stop-loss: Rs 280 | Return 6%

Shriram Transport Finance Co. Ltd: Sell | Target: Rs. 1,248 | Stop-loss: Rs 1,320 | Return: 4%

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 Jul 2, 2018 08:30 am
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