Markets@Moneycontrol: Nifty likely to open higher; 3 stocks that can return up to 17%

The Nifty50 is expected to open higher on Thursday on positive cues from other Asian markets. The index ended 22.5 points, or 0.2 percent, lower at 10,526 on Wednesday.

Trends witnessed on the Singaporean Exchange indicate a positive opening for the Nifty back home. The SGX Nifty was trading at 10,588.50, up 0.32 percent from its previous close.

The S&P 500 eked out a small gain, while the Dow declined after a volatile trading session on Wednesday, with weakness in sectors such as consumer staples and financials offsetting strong gains in the energy and industrial indexes, Reuters reported.

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.

Oil prices trading close to highs touched in the previous day that were last seen in late 2014, buoyed as US crude inventories declined and as top exporter, Saudi Arabia is expected to keep withholding supply to prop up the market, Reuters reported.

Stocks in news:

Mindtree: The company’s Q4 net profit is up over 87 percent at Rs 182.2 crore.

DLF: The company has sought to allay concerns about the slow pace of monetization of land assets.

Mark Builders: SEBI has banned the company and its directors from the market

ABG Shipyard: Fresh bids are invited for the company under insolvency law.

Ashok Leyland: The company has drawn up a Rs 1,000 crore plan for FY19.

Magma Fincorp: The company has raised Rs 500 crore in QIP, promoters pared 2.5 percent stake.

Container Corp: The company will consider a stock split on April 30.

Jain Irrigation: The company's board approved a plan to raise Rs 260 crore loan from an arm of the World Bank.

Technical Recommendations:

We spoke to ICICIdirect and here’s what they have to recommend:

Bajaj Finserv: BUY CMP – 5372.00 Target – 6095.00 Stop Loss – 5190.00 Upside – 13% Time Frame 6 months

Munjal Showa: BUY CMP – 229.00 Target – 269.00 Stop Loss – 208.00 Upside – 17% Time Frame 6 months

PNC Infratech: BUY CMP – 175.00 Target – 205.00 Stop Loss – 166.00 Upside – 17% Time Frame 1 month

(With inputs from Reuters)

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