Moneycontrol
Last Updated : Sep 12, 2018 08:45 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which could give 8-25% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 28 points or 0.25 percent. Nifty futures were trading around 11,349-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-positive note on Wednesday following mixed trend seen in a other Asian markets. The index closed 150 points lower at 11,287 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 28 points or 0.25 percent. Nifty futures were trading around 11,349-level on the Singaporean Exchange.

US stocks rose on Tuesday as Apple led a jump in technology shares and a gain of more than 2 percent in oil prices drove up energy shares, said a Reuters report.

Asian stocks were pinned near 14-month lows on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying US-China trade conflict, it said.

The Indian rupee on September 11, 2018 closed at a record low of 72.69 per US dollar, against a previous close of 72.45 per USD.

Stocks in news:

IT services firm HCL Technologies Tuesday said its Rs 4,000 crore buyback offer will commence on September 18. The company's shareholders had last month approved the buyback proposal.

Syngene International: Biocon and Biocon Research reduced stake by 0.50 percent to 70.24 percent by selling shares of the company through open market on September 11.

Ashish Kacholia raises stake in SME Marshall Machines to 8%. He held 3.2 percent stake in the firm as of September 7, which increased by 4.8 percent to 8 percent now.

Reliance Capital (RCL) reported a consolidated net profit of Rs 272 crore for the April-June quarter of the current fiscal. The company had registered a net loss of Rs 378 crore in the April-June period of 2017-18.

Sadbhav Engineering: Company issued 1,900 unsecured, listed, redeemable non-convertible debentures (NCDs) having face value of Rs 10,00,000 each aggregating to Rs 190.00 crore on private placement basis.

Sadbhav Engineering: CARE revised rating on long term/short term bank facilities.

City Union Bank: ICRA has assigned a long term rating AA- to the bank valid till September 6, 2019.

Technical Recommendations:

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

Natco Pharma: Buy| Close: Rs 829.75 | Target: Rs 900 | Stop Loss: Rs 795 | Return: 8.47%

Chennai Petro: Sell| Close: Rs 281.60 | Target: Rs 264 & 255| Stop loss: Rs 301 | Return: 7.37%

Automotive Axles: Buy| Close: Rs 1432.60 | Target: Rs 1800 & 2050 | Stop Loss: Rs 1235 | Return: 25.65%

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.
First Published on Sep 12, 2018 08:45 am
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