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Last Updated : Apr 05, 2018 08:46 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open gap-up; 3 stocks which can give up to 21% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 157 points or 1.55 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected with a gap on the higher side on Thursday, tracking positive trend seen in other Asian markets and a strong handover from Wall Street. The Nifty index closed 116 points lower at 10,128 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 157 points or 1.55 percent. The Nifty futures were trading around 10,287-level on the Singapore Stock Exchange.

Wall Street’s three major indexes staged a comeback to close around 1 percent higher on Wednesday as investors turned their focus to earnings and away from a trade conflict between the United States and China that wreaked havoc in earlier trading, Reuters reported.

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The Dow Jones Industrial Average rose 230.94 points, or 0.96 percent, to close at 24,264.30, the S&P 500 gained 30.24 points, or 1.16 percent, to 2,644.69 and the Nasdaq Composite added 100.83 points, or 1.45 percent, to 7,042.11.

Asian shares bounced from two-month lows on Thursday as world equities recovered from a selloff triggered by escalating Sino-US trade tensions, with investors hoping a full-blown trade war between the world’s two biggest economies can be averted, Reuters reported.

Markets in mainland China, and those in Hong Kong and Taiwan are closed on Thursday.

Stocks in news:

Adani Enterprises: The company has won an award from National Highways Authority of India (NHAI) for an infrastructure project in Chhattisgarh.

Natco Pharma: The firm has launched first generic version of oral tablets for multiple scerlosis in India.

Binani Industries: The company has offered to pay Rs 7,229 crore to lenders, creditors of Binani Cement, CNBC-TV18 reported.

Bharat Heavy Electricals: The company has begun 330 MW Kishanganga HEP In J&K.

Axis Bank: The central bank has rejected its request for gold & silver import in FY19.

Jet Airways: The airline will buy 75 Boeing 737 Max jets worth up to USD 9.7 billion.

IndusInd Bank ties up with JSW Foundation to support women athletes

Max Financial Services' board meeting on April 9, 2018, to consider and evaluate proposals for raising of funds by way of debt instruments

Kansai Nerolac entered into share purchase agreements (SPAs) to acquire 100% equity stake in Marpol for an aggregate consideration of Rs 36 crore

Bhansali Engineering Polymers board meeting on April 13, 2018, to consider audited financial results and recommendation of dividend to members for FY 17-

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Dilip Buildcon completed highway project and entitled to a maximum bonus of one annuity payment of Rs 177,300,000 for earlier completion

Technical Recommendations:

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

Eicher Motors: BUY CMP – 28900.00 Target – 32200.00 Stop Loss – 27110.00 Upside – 11% Time Frame 6 months

Indian Hotel: BUY CMP – 136.00 Target – 166.00 Stop Loss – 124.00 Upside – 21% Time Frame 6 months

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.

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First Published on Apr 5, 2018 08:39 am
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