Moneycontrol
Last Updated : Jul 11, 2018 08:57 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 5-12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35 points or 0.32 percent. Nifty futures were trading around 10,923-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat with a negative bias on Wednesday tracking muted trend seen in other Asian markets. The index closed 94 points higher at 10,947 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35 points or 0.32 percent. Nifty futures were trading around 10,923-level on the Singaporean Exchange.

The S&P 500 rose on Tuesday to post its highest closing level since February 1, the day before the market began a sharp extended selloff, as strong results from PepsiCo boosted optimism about the earnings season, said a Reuters report.

Major markets in Asia fell in the morning trade following the release of a list of an additional USD 200 billion in Chinese goods on which the US is considering imposing tariffs. China markets dropped on the back of the news, with the Shanghai composite sinking 2.31 percent in morning trade, it said.

The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10 percent tariffs on an extra USD 200 billion worth of Chinese imports.

Stocks in news:

Results Today: MIC Electronics and Reliance Industrial Infrastructure

Ex-Bonus: Minda Industries - 2:1

Fortis Healthcare to consider fund raising on July 13

TCS: Net profit up 6.3 percent at Rs 7,340 crore versus Rs 6,904 crore; revenue up 6.8 percent at Rs 34,261 crore versus Rs 32,075 crore (QoQ). Constant currency revenue growth at 4.1 percent and Dollar revenue up 1.6 percent at $5,051 million.

Axis Bank: Board recommends names of 3 candidates for the position of MD & CEO. The candidate, as approved by the RBI, will succeed Shikha Sharma whose term as MD & CEO is due to expire on December 31, 2018.

PNB Housing Finance: PNB & Carlyle Group to sell at least 51 percent stake in company to potential acquirers. PNB owns 32.79 percent & Carlyle Group 32.36 percent in the company.

Andhra Bank: Board approves raising of equity via preferential issue, QIP & FPO.

Technical Recommendations:

We spoke to Guiness Securities Ltd. and here’s what they have to recommend:

Petronet LNG Ltd: Buy | Close: Rs 222.80 | Target: Rs 251 | Stop loss: Rs 202 | Return: 12.56%

Century Textiles & Industries Ltd: Buy | Close: Rs 935.45 | Target: Rs 1010 | Stop loss: Rs 898 | Return: 7.97%

Mahindra & Mahindra Ltd: Buy | Close: 930.55 | Target: Rs 975 | Stop loss: Rs 902 | Return: 5.29%

Disclaimer: The views and investment tips expressed by investment experts 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 11, 2018 08:27 am
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