Expect Nifty to open flat; 2 stocks which could give 7-10% return

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 1.5 points or 0.01 percent. Nifty futures were trading around 11,774-level on the Singaporean Exchange.

The Nifty50 is expected to open flat on Monday tracking muted trend seen in other Asian markets. The index closed 67 points higher at 11,665 on Friday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 1.5 points or 0.01 percent. Nifty futures were trading around 11,774-level on the Singaporean Exchange.

US stocks rose on Friday, boosted by better-than-expected job growth in March, which eased concerns of an economic slowdown that have periodically roiled financial markets over the past year, said a Reuters report.

Asian shares edged higher on Monday as investors cheered a much-needed rebound in US payrolls, while looking forward to more policy stimulus in China, it said.

The rupee skidded 6 paise to finish at 69.23 per US dollar Friday, largely owing to increasing demand for the greenback from importers.

Stocks in news:

The Reserve Bank of India (RBI) said it has not yet approved a merger proposal of private-sector lender Lakshmi Vilas Bank Ltd and Indiabulls Housing Finance Ltd. The companies had said in a filing on Friday that they will merge operations in a share-swap deal.

Funds affiliated with Baring Private Equity Asia (BPEA) will buy about 30 percent stake in mid-sized IT services firm NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore, as per a regulatory filing.

Future Consumer said it plans to raise Rs 350 crore from existing investors – International Finance Corporation, Verlinvest and promoters to fund expansion plans.

Technical Recommendations:

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

UltraTech Cement: Buy| LTP: Rs 4190| Target: Rs 4610| Stop Loss: Rs 3975| Upside 10%

TATA Steel: Buy| LTP: Rs 549| Target: Rs 590| Stop Loss: Rs 526| Upside 7%

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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