Moneycontrol
Last Updated : Jul 25, 2018 08:43 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 10-12% return

The Nifty futures on the Singaporean exchange were trading flat on Wednesday, pointing to a similar start on the market here as well. The futures were up 2 points.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat-to-higher on Wednesday tracking positive trend seen in other Asian markets. The Nifty50 closed 49 points higher on Tuesday at 11,134.

The Nifty futures on the Singaporean exchange were trading flat on Wednesday, pointing to a similar start on the market here as well. The futures were up 2 points.

The Nasdaq Composite hit a record high on Tuesday as Alphabet’s blowout results sparked a rally in high-growth stocks and bolstered expectations of a robust earnings season, while a rise in oil and metal prices boosted energy and material companies, Reuters reported.

Asian markets were trading mixed on Wednesday morning, with Japan and Hong Kong mirroring Wall Street's moves. The Nikkei 225 traded higher by 0.4 percent in Tokyo.

Oil prices rose for a second day on Wednesday after industry group data showed US crude inventories fell more than expected last week, easing worries about oversupply that had dragged on markets in recent sessions, said the Reuters report.

The Street could keep an eye on all the actions from the earnings front as over 50 companies are set to announce their June quarter numbers. The big names include Ambuja Cements, Canara Bank, Jubilant Foodworks, L&T, PVR, Oriental Bank of Commerce, among others.

Stocks in news:

Asian Paints: Q1 consolidated profit rises 30 percent to Rs 571.3 crore versus Rs 440.7 crore; revenue rises 15.1 percent to Rs 4,390 crore versus Rs 3,815.3 crore (YoY).

ICICI Prudential Life Insurance: Q1 profit falls 30.5 percent to Rs 282 crore versus Rs 406 crore; net premium income increases 12.8 percent to Rs 5,438 crore versus Rs 4,820 crore (YoY).

ICICI Bank: Sandeep Batra of ICICI Prudential Life joined ICICI Bank as President-Corporate Centre. He will directly report to Sandeep Bakshi, COO, ICICI Bank.

Network18 Media: Q1 consolidated operating revenue rises 10 percent to Rs 1,124 crore versus Rs 1,025 crore; operating EBITDA at Rs 18 crore versus EBITDA loss of Rs 2 crore (YoY).

TeamLease: Q1 profit increases 2.8 percent to Rs 22 crore versus Rs 21.2 crore; revenue rises 4.5 percent to Rs 1,021.3 crore versus Rs 977.5 crore (QoQ).

Symphony: Q1 profit falls 49 percent to Rs 20 crore versus Rs 39 crore; revenue slips 23.2 percent to Rs 146 crore versus Rs 190 crore (YoY).

Technical Recommendations:

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

Exide Industries Limited: Buy| Target: Rs 303| Stop Loss: Rs 252| Return 12%

Apollo Tyres Ltd: Sell| Target: Rs 255| Stop Loss: Rs 300| Return 11%

ITC Limited: Buy| Target: Rs 312| Stop Loss: Rs 267| 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 Jul 25, 2018 08:43 am
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