Moneycontrol
Last Updated : May 29, 2018 08:41 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which could give 9-16% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.50 points or 0.26 percent. Nifty futures were trading around 10,666.50-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat-to-negative on Tuesday following muted trend seen in other Asian markets. The index closed 83 points higher at 10,688 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.50 points or 0.26 percent. Nifty futures were trading around 10,666.50-level on the Singaporean Stock Exchange.

Wall Street remain closed on account of a public Holiday while Asian shares fell on Tuesday and the euro slipped back to 6-1/2 month lows as early elections loomed in Italy. Liquidity is expected to be relatively thin with market holidays in Singapore, Malaysia, Indonesia and Thailand.

The Indian rupee and 10-year bond prices on Monday closed at two-week highs as falling crude oil prices ease inflation and trade deficit worries.

Stocks in news:

M&M, BHEL, BPCL, Coal India, Glenmark Pharma, ADF Foods, MMTC, Dish TV, Gati, Greenply Industries, IL&FS Transportation Networks, Ipca Laboratories, Mukand, MT Educare, Sadbhav Engineering, and UFO Moviez India etc.

Larsen & Toubro: The company allotted 1.63 lakh shares to employees under ESOP scheme. Its Q4 profit up 5 percent YoY at Rs 3,167 crore; expects 12-15 percent revenue growth in FY19.

Rural Electrification Corporation: Q4 net profit down 37 percent on higher provisions

Bank of India: Q4 loss at Rs 3,970 crore on higher provisions; asset quality worsens

Icra lowers ratings on Jet Airways' loan facilities

Piramal Enterprises: Q4 net up 21 percent at Rs 375 crore

NTPC: Company's Q4 net profit jumps 41 percent to Rs 2,926 crore

Oil India Q4: Net profit up 22.9 percent at Rs 866.5 crore and revenue was up 5.1 percent at Rs 2,998 crore

NMDC Q4: Net profit at Rs 1,105.8 crore. Revenue was up 35 percent at Rs 3,883 crore

Technical Recommendations:

We spoke to YES Securities (I) Ltd and here’s what they have to recommend:

Nilkamal: Buy| Target: Rs 1975| Stop loss: Rs 1,600| Return 16%

The New India Assurance: Buy| Target: Rs 790| Stop loss: Rs 690| Return 9%

Axis Bank: Buy| Target: Rs 600| Stop loss: Rs 519| Return 10%

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 29, 2018 08:38 am
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