Moneycontrol
Last Updated : Aug 24, 2018 01:42 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which could give 8-10% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a gain of 40.5 points or 0.35 percent. Nifty futures were trading around 11,564- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open lower on Friday following muted trend seen in other Asian markets. The index closed 11 points higher at 11,582 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a gain of 40.5 points or 0.35 percent. Nifty futures were trading around 11,564- level on the Singaporean Exchange.

Wall Street’s major indexes fell on Thursday as trade-sensitive stocks were hit by a fresh round of tariffs in the trade dispute between the United States and China, said a Reuters reported.

Asian stocks tracked Wall Street losses and edged down in early trade on Friday, but the dollar was buoyant after ending a long losing run ahead of a speech by Federal Reserve Chairman Jerome Powell, the report added.

Stocks in news:

Results Today: LIC Housing Finance, MAS Financial, Pratibha Industries, Sundaram Finance, Easun Reyrolle

Aban Offshore’s annual general meeting on September 24

Music Broadcast: Board considered the resignation of Abraham Thomas from the post of CEO and appointment of Ashit Kukian to take over as CEO.

Britannia Industries: Board approves 2-for-1 stock split.

Tata Investment Corporation: Q1 profit rises to Rs 22.48 crore versus Rs 17.98 crore; revenue climbs to Rs 30.94 crore versus Rs 25.33 crore (YoY).

Jubilant Life Sciences: India Ratings & Research has upgraded the company's long-term credit rating to 'AA/Stable' from 'AA-/Stable'; also affirmed the short-term credit rating of 'A1+'.

Tamilnadu Petroproducts: CARE Ratings has upgraded the credit rating of company's long-term bank facilities worth Rs 60 crore to BBB+/stable from BBB/stable; long/short-term bank facilities worth Rs 63 crore to BBB+ stable/A3+ from BBB stable/A3.

Technical Recommendations:

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

UBL: Buy| Target: Rs 1570| Stop Loss: Rs 1397| Returns 8.1%

Ashok Leyland Ltd: Buy| Target: Rs 145| Stop Loss: Rs 126| Returns 10%

HCL Technologies Ltd: Buy| Target: Rs 1112| Stop Loss: Rs 986| Returns 8.3%

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 24, 2018 08:48 am
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