Moneycontrol
Last Updated : May 25, 2018 08:38 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; Infosys, ITC top buys

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27 points, or 0.26 percent. Nifty futures were trading around 10,515 on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat-to-positive on Friday following muted trend seen in other Asian markets. The index closed 83 points higher at 10,513 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27 points, or 0.26 percent. Nifty futures were trading around 10,515 on the Singaporean Exchange.

US stocks ended down slightly on Thursday after President Donald Trump canceled a planned summit with North Korea’s Kim Jong Un and threatened to impose tariffs on auto imports, though losses were limited by gains in Netflix and General Electric.

Asian shares were slightly weaker on Friday amid fragile market sentiment after US President Donald Trump called off a key summit with North Korea, though investor concerns were softened by expectations the two countries may still continue dialogue.

As many as 238 companies are scheduled to report their results for March quarter which include names like Bank of Baroda, BEML, Cadila Healthcare, Max Financial Services, Page Industries, PC Jeweller, Sun Pharma, Tech Mahindra, and Zuari Global among others.

Stocks in news:

Camlin Fine Science board approved raising of funds not exceeding Rs 250 crore

Gayatri Projects received LoA from the Ministry of Road Transport and Highways for part construction of six lane elevated corridor in the state of Telangana

Gujarat Alkali Q4 YoY: Profit jumps sharply to Rs 221.1 crore versus Rs 87.1 crore; revenue from operations rose to Rs 697.3 crore from Rs 531.3 crore

Cummins Q4 YoY: Profit up 1.7 percent at Rs 161.2 crore versus Rs 158.5 crore; revenue up 4.1 percent at Rs 1,233.2 crore versus Rs 1,184.4 crore.

GSK Pharma: Q4 net profit down 6.3 percent at Rs 105.6 crore

Kaveri Seed Company: Board approves buyback of equity shares

United Breweries Q4: Net profit at Rs 90.9 crore and revenue at Rs 1,474 crore

United Spirits Q4: Net profit at Rs 211 crore and revenue at Rs 2173.3 crore

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt. Ltd and here’s what they have to recommend:

Infosys: Buy around Rs 1,214 - 1,208| Target: Rs 1,300| Stop loss: Rs 1,170| Return 6%

ITC: Buy around Rs 272 - 268| Target: Rs 300| Stop loss: Rs 260| Return 9.5%

Maruti Suzuki: Sell around Rs 8,460 - 8,500| Target: Rs 8,000| Stop loss: Rs 8,810| Return 5%

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 May 25, 2018 08:37 am
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