Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which can give up to 13% return

The Nifty50 is expected to open flat-to-higher on Wednesday tracking positive trend seen in other Asian markets. The Nifty50 closed 30 points higher at 10,124 on Tuesday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, rising 4 points or 0.04 percent. Nifty futures were trading around 10,162-level on the Singapore Stock Exchange.

US stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains. Those gains helped the S&P energy index rise 0.84 percent, making it easily the best performing of the 11 major S&P 500 sectors, Reuters reported.

The Dow Jones Industrial Average rose 116.36 points, or 0.47 percent, to 24,727.27, the S&P 500 gained 4.02 points, or 0.15 percent, to 2,716.94 and the Nasdaq Composite added 20.06 points, or 0.27 percent, to 7,364.30.

Asian markets gained early in the session on Wednesday, with markets focused on the Federal Reserve after it kicked off its March meeting. The Kospi traded higher by 0.17 percent while the junior Kosdaq edged up by 0.4 percent, CNBC reported.

Stocks in news:

New Kid on the block: Mishra Dhatu Nigam has fixed its initial public offering price band of Rs 87-90 apiece. The company is raising Rs 438 crore through an offer for sale by the government.

The government is diluting 26% of its stake in the company and is giving a discount of Rs 3 per share to retail investors.

MOIL: Sunil Porwal has been appointed as the government nominee director on the firm’s Board.

Equitas: The firm will allot 1,59,798 shares at Rs 10 each under ESOP scheme.

Sterlite Power: The firm has acquired Rs 1,500 crore Goa-Tamnar project.

Ashok Leyland: The company will be supplying 50 e-buses for Ahmedabad’s BRT corridor, according to a report in The Hindu BusinessLine.

Larsen & Toubro: The company is set to win EPC contract for new dry dock in Kochi, The Hindu BusinessLine reported.

Greenply Industries to explore an option to demerge its MDF Division into Greenpanel Industries

NRB Bearings approves dividend at Rs 1.40 per share

Ashoka Buildcon declares interim dividend

Technical Recommendations:

Here’s what SMC Global Securities has to recommend:

Eris Lifesciences Ltd: BUY| Target Rs895| Stop Loss Rs750| Return 11%

Future Lifestyle Fashion Ltd: BUY| Target Rs464| Stop Loss Rs380| Return 13%

Chambal Fertilisers Ltd: BUY| Target Rs187| Stop Loss Rs152| Return 13%

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.