Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which could give 9-13% return

The Nifty50 is likely to open higher on Monday following positive trend seen in other Asian markets. The index closed 85 points higher at 11,470 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 42 points or 0.37 percent. Nifty futures were trading around 11,520- level on the Singaporean Exchange.

US stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico, said a Reuters report.

Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-US trade talks, while keeping a wary eye on the Chinese yuan and Turkish lira for any new signs of strain, it said.

Stocks in news:

Infosys - Board of directors accepted the resignation of CFO, MD Ranganath

Ranganath to continue in his current position as CFO till November 16, 2018

Larsen & Toubro: Company will consider the proposal of buyback of equity shares on August 23.

Jet Airways: Clarified to NSE on the news - Jet in talks with True Jet for subleasing of ATR aircrafts.

Dhunseri Petrochem: Company entered into a share purchase agreement with Engineering for the Petroleum & Process Industries (ENPPI) for the purchase of its 7 percent stake in joint venture company Egyptian Indian Polyester Company S A E (EIPET).

Goa Carbon: Maintenance work at the company's Goa unit has been completed and the Kiln has been lit up. After preliminary heat up, feeding of raw material will commence and normal production is likely to resume from August 18.

Idea Cellular: Axiata informed on August 15 it relinquished all major rights to nominate a director on company's board & anti-dilution right.

Technical Recommendations:

We have spoken to Religare Broking Ltd and here’s what they have to recommend:

DHFL: Buy| LTP: Rs 670.35| Target: Rs 760| Stop Loss: Rs 630| Return 13%

Sun Pharma Ltd: Buy| LTP: Rs 623.50| Target: Rs 700| Stop Loss: Rs 590| Return 12%

L&TFH: Buy| LTP: Rs 181.75| Target: Rs 198| Stop Loss: Rs 175| Return 9%