Moneycontrol
Last Updated : May 04, 2018 08:57 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which can give up to 12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 33.5 points or 0.31 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Friday following weak trend seen in other Asian markets. The Nifty50 closed 38 points lower at 10,679 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 33.5 points or 0.31 percent. Nifty futures were trading around 10,673-level on the Singaporean Exchange.

The S&P 500 ended lower on Thursday after a choppy session as disappointing earnings reports from several companies offset strong economic data, said a Reuters report.

Asian shares were steady while the Japanese yen held onto overnight gains in early trading as financial markets turned their attention to the looming US payrolls data for fresh catalysts, said the report.

The Dow Jones Industrial Average rose 5.17 points, or 0.02 percent, to 23,930.15, the S&P 500 lost 5.94 points, or 0.23 percent, to 2,629.73 and the Nasdaq Composite dropped 12.75 points, or 0.18 percent, to 7,088.15.

Stocks in news:

PNB Housing Finance: Q4 consolidated net profit up 0.8 percent at Rs 219.2 cr; revenue up 9.1 percent at Rs 1,570 cr YoY

L&T Finance Holdings: Q4 profit up 30 percent at Rs 409 cr; revenue up 27 percent at Rs 2,748.34 crore YoY; gross NPA at 4.80 percent versus 5.49 percent and net NPA at 2.34 percent versus 2.87 percent QoQ

Vedanta: Q4 net profit up 34.3 percent at Rs 5,675 crore; revenue up 22.7 percent at Rs 27,630 crore YoY

Thirumalai Chemicals: Q4 consolidated net profit at Rs 39.7 crore versus Rs 19.1 crore; revenue up 7.9 percent at Rs 330.7 crore versus Rs 306.6 crore YoY; recommends stock split from Rs 10 to Re 1 and dividend of Rs 20 per share

Nucleus Software: Q4 net profit down 15.2 percent at Rs 17.3 crore; revenue up 10.3 percent at Rs 111 crore YoY

Trent: Q4 net profit down 53.8 percent at Rs 11.7 crore; revenue up 17.9 percent at Rs 528.7 crore YoY

Matrimony.com: Q4 net profit up 90.9 percent at Rs 16.8 crore; revenue up 84.4 percent at Rs 84.4 crore YoY

HCC: Q4 consolidated loss at Rs 1,090 crore versus loss of Rs 982.6 crore; revenue up 2.7 percent at Rs 10,132 crore YoY

Emami: Q4 consolidated net profit down at Rs 60.9 crore versus Rs 83.3 crore; revenue up 8.2 percent at Rs 617 crore YoY; board approves bonus issue of 1:1

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt. Ltd and here’s what they have to recommend:

Jindal Steel: Sell| Target: Rs 218| Stop loss: Rs 264| Timeframe 15 to 21 trading session| Return 9%

Voltas: Sell| Target: Rs 570| Stop loss: Rs 665| Timeframe 15 to 21 trading sessions| Return 7%

ITC: Buy| Target: Rs 320| Stop loss: Rs 266| Timeframe 15 to 21 sessions| 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 May 4, 2018 08:39 am
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