Moneycontrol
Last Updated : Sep 17, 2018 08:36 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which could give 4-10% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 32 points or 0.28 percent. Nifty futures were trading around 11,514-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open lower on Monday following a mixed trend seen in other Asian markets. The index closed 145 points higher at 11,515 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 32 points or 0.28 percent. Nifty futures were trading around 11,514-level on the Singaporean Exchange.

US stocks ended little changed on Friday as financials rose with bond yields, while news that President Donald Trump instructed aides to proceed with tariffs on about $200 billion of Chinese products limited gains, said a Reuters report.

Asian share markets slipped on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.

The government will stick to the fiscal deficit target of 3.3 percent this fiscal as it expects buoyant tax revenues and exceeding disinvestment target, Finance Minister Arun Jaitley said Saturday.

State-owned engineering and construction company IRCON International will open its initial public offering for subscription on September 17 with a price band of Rs 470-475 per share.

Stocks in news:

Infosys to acquire 100 percent stake in cloud consulting and training services company Fluido for Euro 65 million.

Hindalco Industries will seek shareholders' approval for the issue of non-convertible debentures (NCDs) on private placement basis for aggregating Rs 6,000 crore at its forthcoming annual general meeting (AGM) next week.

State-run Bank of India is looking to raise nearly Rs 1,000 crore through selling stake in some of its non-core assets and real estate properties.

Tantia Constructions: M L Agarwala resigned from the board of company.

NBCC clarified on SC appoints NBCC to construct stalled projects of Amrapali Group that the company has not received any such order from the SC as on date

Uday Jewellery Industries: Company has started export of its speciality jewellery and has completed its first export.

Arihant Superstructure - New project undertaken under development management model at Panvel

Modern Steels: As the company's Account is NPA with Punjab National Bank, company will settle the dues to PNB by paying Rs 30 crore.

Gammon India: The Court of Monza, Italy has declared the bankruptcy of the company's step down subsidiary 'SAE Powerlines S.r.l' (which is held through ATSL Holdings BV).

Technical Recommendations:

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

Asian Paints: Buy| LTP: Rs 1331| Target: Rs 1390| Stop Loss: Rs 1295| Return 4%

JSW Steel: Buy| LTP: Rs 407| Target: Rs 447| Stop Loss: Rs 387| Return 10%

United Spirits: Buy| LTP: Rs 581| Target: Rs 641| Stop Loss: Rs 560| Return 10%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their 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 17, 2018 08:35 am
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