Moneycontrol
Last Updated : Jul 27, 2018 08:51 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; top 3 stocks which could give 7-10% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday tracking mixed trend seen in other Asian markets. The Nifty50 closed 35 points higher on Thursday at 11,167.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Exchange.

The major stock indexes in the US traded in different directions on Thursday as investors grappled with a disastrous quarterly report from Facebook, said a Reuters report.

The Dow Jones Industrial Average rose 112.97 points, or 0.44 percent, to 25,527.07, the S&P 500 lost 8.63 points, or 0.30 percent, to 2,837.44 and the Nasdaq Composite dropped 80.05 points, or 1.01 percent, to 7,852.19.

Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-US trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.

As many as 55 companies will declare their results for June quarter later today which include names like Bank of Baroda, Excel Corp, HCL Technologies, ICICI Bank, M&M Financial Services, and Reliance Industries

Stocks in news:

ITC: Q1 profit rises 10.1 percent to Rs 2,819 crore versus Rs 2,560.5 crore; revenue increases 7.6 percent to Rs 10,707 crore versus Rs 9,954.7 crore (YoY).

Bharti Airtel: Q1 profit jumps 17 percent to Rs 97.3 crore versus Rs 82.9 crore; revenue rises 2.3 percent to Rs 20,080 crore versus Rs 19,634 crore (QoQ).

Petronet LNG: Q1 profit surges 34 percent to Rs 587 crore versus Rs 437.6 crore; revenue jumps 42.5 percent to Rs 9,169.1 crore versus Rs 6,435.1 crore (YoY).

Biocon: Q1 profit zooms 47.2 percent to Rs 119.7 crore versus Rs 81.3 crore; revenue increases 21.2 percent to Rs 1,123.8 crore versus Rs 927.4 crore (YoY).

Lakshmi Vilas Bank: Q1 net loss at Rs 123.9 crore versus profit of Rs 66.1 crore; NII falls 40.2 percent to Rs 130.2 crore versus Rs 217.8 crore (YoY).

Container Corporation: Q1 profit rises 2.4 percent to Rs 252.4 crore versus Rs 246.5 crore; revenue increases 6.9 percent to Rs 1,568.3 crore versus Rs 1,467.5 crore (YoY).

Essel Propack: Q1 profit jumps 20.4 percent to Rs 41.3 crore versus Rs 34.3 crore; revenue rises 8.9 percent to Rs 635.4 crore versus Rs 583.3 crore (YoY).

Technical Recommendations:

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

SBI: Buy| Target: Rs 315| Stop Loss: Rs 276| Returns 8.6%

Motherson Sumi Ltd: Buy| Target: Rs 342| Stop Loss: Rs 294| Returns 10.3%

Pfizer: Buy| Target: Rs 2880| Stop Loss: Rs 2577| Returns 7.5%

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 Jul 27, 2018 08:40 am
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