Moneycontrol
Last Updated : Aug 27, 2018 08:43 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; Zee Entertainment, Eicher among top buy calls

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 43 points or 0.37 percent. Nifty futures were trading around 11,617- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty is likely to open with a gap on Monday following positive trend seen in other Asian markets. The index closed 25 points lower at 11,557 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 43 points or 0.37 percent. Nifty futures were trading around 11,617- level on the Singaporean Exchange.

The benchmark S&P 500 stock index clinched its longest bull-market run on Friday, closing above its previous January high, as Federal Reserve Chairman Jerome Powell affirmed the US central bank's current pace of rate hikes, said a Reuters report.

Asian shares rose early on Monday, taking support from Wall Street’s gains on Friday after US Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the US economy and job growth, said the report.

Stocks in news:

Reliance Industries: Subsidiary Reliance Brands purchased an additional 3.07 percent equity holding in Genesis Colors (GCL) for about Rs 8.32 crore, taking its total stake in GCL to 49.46 percent.

DHFL proposes to issue NCD worth Rs 1000 crore also Greenshoe option of Rs 1000 crore on private placement basis

Fortis Healthcare: Company & RHT Health Trust have agreed to amend the long stop date in the master purchase agreement.

LIC Housing Finance: Q1 profit rises 18.4 percent to Rs 567.9 crore versus Rs 479.7 crore; revenue increases 10.8 percent to Rs 4,019 crore versus Rs 3,626.9 crore (YoY).

Munjal Auto entered into the design and manufacture of composites components and assemblies via acquisition of a majority holding in Indutch Composites Technology

Sundaram Finance: Q1 profit rises to Rs 140.72 crore versus Rs 111.75 crore; revenue from operations increased to Rs 753.2 crore versus Rs 614.7 crore; provisions and write off declined to Rs 18.7 crore versus Rs 21.4 crore (YoY).

Technical Recommendations:

We spoke to Chartviewindia.in and here's what they have to recommend:

Zee Entertainment: Buy| LTP: Rs 509.10| Target: Rs 540| Stop Loss: Rs 490| Return 6%

Bajaj Electricals: Buy| LTP: Rs 564| Target: Rs 603| Stop Loss: Rs 535| Return 7%

Eicher Motors: Buy| LTP: Rs 28,796| Target: Rs 30,080| Stop Loss: Rs 28,350| Return 4%

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 Aug 27, 2018 08:43 am
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