Moneycontrol
Last Updated : Sep 06, 2018 08:40 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher on Thursday; 3 stocks which could give 9-12% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 30.5 points or 0.27 percent. Nifty futures were trading around 11,534-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Thursday following SGX Nifty, but the most of the Asian markets are trading with a negative bias. The index closed 43 points lower at 11,476 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 30.5 points or 0.27 percent. Nifty futures were trading around 11,534-level on the Singaporean Exchange.

The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc and Twitter Inc executives defended their companies before skeptical US lawmakers, said a Reuters report.

Global equities remained under pressure with stocks in Asia down for the sixth straight day on Thursday amid fragile investor confidence in the wake of turmoil in emerging markets and anxiety about a major escalation in the US-China trade conflict, it said.

After hitting fresh lows of 71.97 per US dollar, the Indian rupee on Wednesday, managed to recover over 20 paise to close at 71.75 per US dollar.

Stocks in news:

Alembic Pharmaceuticals: The meeting of the board of directors of the company is scheduled on September 10 to consider the proposal for issue of non-convertible debentures on private placement basis.

Alembic Pharmaceuticals: CRISIL reaffirmed credit rating of AA+/Stable for Rs 850 crore limit of fund & non-fund based facilities and term loans; and assigned credit rating of AA+/Stable for the proposed issue of non-convertible debentures of Rs 300 crore.

Bombay Burmah Trading approved appointment of Dibakar Chatterjee as CEO w.e.f. Sept 5

PSP Projects: Company has received work orders worth Rs 226.07 crore (on standalone basis) from various clients for industrial and institutional projects. Total work orders received during the financial year 2018-19 (till date) on standalone basis amounts to Rs 419.97 crore.

Bharti Airtel: Transfer of shares in Bharti Telemedia (a subsidiary of the company) to an affiliate of Warburg Pincus has been completed.

Sagar Cements' consolidated August sales are up by 24 percent at 2,47,051 MT versus 1,99,179 MT

Jindal Stainless' annual general meeting scheduled on September 27

Welspun Corp board approved the merger plan of Welspun Pipes with self

Technical Recommendations:

We spoke to Bonanza Portfolio and here’s what they have to recommend:

Bajaj Auto Ltd: Buy| LTP: Rs 2,758 | Target: Rs 3,000 | Stop Loss: Rs 2,640| Return 9%

Vedanta: Buy| LTP: Rs. 228.75 | Target: Rs 254| Stop Loss: Rs 219| Return 11%

Yes Bank: Buy| LTP: Rs.344.05 | Target: Rs 388| Stop Loss: Rs 324| Return 12%

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 6, 2018 08:40 am
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