Moneycontrol
Last Updated : Aug 28, 2018 08:42 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which could give 8-10% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 31 points or 0.26 percent. Nifty futures were trading around 11,754- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Tuesday following positive trend seen in other Asian markets. The index closed 134 points higher at 11,691 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 31 points or 0.26 percent. Nifty futures were trading around 11,754- level on the Singaporean Exchange.

A broad-based rally pushed the S&P 500 and the Nasdaq to record-high closes for the second straight session on Monday as a trade agreement reached between the United States and Mexico buoyed investor sentiment, said a Reuters report.

Asian shares advanced again on Tuesday while major currencies held on to gains amid hopes global tariff tensions were abating as the United States and Mexico made a deal to overhaul the North American Free Trade Agreement, it said.

Stocks in news:

Jet Airways Q1
Net loss at Rs 1,323 crore Vs profit of Rs 53.5 crore, YoY
Revenue up 6.4% at Rs 6,010.5 crore Vs Rs 5648.9 crore, YoY

EBITDA loss of Rs 1,018.4 crore Vs EBITDA of Rs 88.1 crore, YoY

Jet Airways
To focus on looking at raising funds

To focus on cost cutting measures, raise revenues through monetisation

GMR Infra clarified on news that GMR Warora Energy (GWEL) will not be affected by the RBI Circular dated February 12, 2018. It has cleared all dues to the existing lenders as on August 27, 2018

Colgate Palmolive appoints Mukul Deoras as chairman

Karnataka Bank ties up with Bank Bazaar for digital home loan sourcing

Zen Technologies - CARE revised long-term rating to CARE BBB- from CARE BBB

JBF Industries: Company and KKR Jupiter Advisors (KKR) have entered into a binding understanding, wherein KKR has agreed to buy out a 100 percent stake of in company's subsidiary JBF Petrochemicals.

Oriental Bank of Commerce: The meeting of the board of directors of the company is scheduled on August 30 to consider the raising of capital from the market through QIP for an amount not exceeding Rs 1,000.00 crore.

Technical Recommendations:

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

Axis Bank Ltd: Buy| LTP: Rs 650 | Target: Rs.700 | Stop-Loss: Rs 620 | Return 8%

PNB Housing Finance: Buy| LTP: Rs 1412 | Target: Rs. 1550| Stop-Loss: Rs 1330| Return 10%

Piramal Enterprise Ltd: Buy| LTP: Rs 3060 | Target: Rs. 3200 | Stop-Loss: Rs 3025| Return 9%

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 Aug 28, 2018 08:42 am
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