Moneycontrol
Last Updated : Sep 28, 2018 08:45 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.36 percent. Nifty futures were trading around 11,082-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday following a positive trend seen in other Asian markets. The index closed 76 points lower at 10,977 on Thursday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.36 percent. Nifty futures were trading around 11,082-level on the Singaporean Exchange.

Wall Street climbed on Thursday, helped by gains in Apple, Alphabet and Facebook, as well as the US Federal Reserve’s confidence in the strength of the economy after it raised rates for the third time this year, said a Reuters report.

Shares in Asia inched higher on Friday, following gains on Wall Street overnight after news of robust US economic growth, with the chairman of the Federal Reserve saying the United States does not face a large chance of near-term recession, it said.

Stocks in news:

IL&FS Financial Services: Company defaulted on 7 repayments between September 12 & 27.

Kesoram Industries received Karnataka government approval for acquisition of some 675 acres of land for Industrial purpose (Mining Activities).

IL&FS Transportation Networks: CARE revised rating on non-convertible debenture of Rs 1,015 crore to BB/Outlook-Negative from BB (SO), non-convertible debenture of Rs 750 crore to BB/Outlook-Negative from BB- (SO) and bank facilities of Rs 500 crore to BB/Outlook-Negative from BB- (SO).

PNB approves infusion of Rs 5,431 crore by govt via preferentail share issue

PNB: CBI filed case against directors & promoters of telecom company VMC Systems Private Ltd after complaint from the bank - CNBC-TV18.

Technical Recommendations:

We spoke to Epic Research and here's what they have to recommend:

Chennai Petro: Buy| LTP: 281| Target: Rs 305| Stop Loss: Rs 270| Return 8%

HCL Technologies: Sell| LTP: Rs 1090| Target: Rs 1050| Stop Loss: Rs 1120| Return 4%

Shriram Transport Finance Company: Sell| LTP: Rs 1150| Target: Rs 1125| Stop Loss: Rs 1185| Return 2%

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 Sep 28, 2018 08:45 am
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