Nifty likely to open flat; 3 stocks which can give up to 12% return

Trends on the Nifty futures on the Singaporean exchange indicate a flat opening for the market, with a hint of a negative bias. SGX Nifty was trading around 10,800-levels, a change of five points on the lower side.

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The Nifty50 is expected to open flat on Monday following muted trend seen in other Asian markets and SGX. The Nifty50 closed 89 points higher at 10,806 on Friday.

Trends on the Nifty futures on the Singaporean Exchange indicate a flat opening for the market, with a hint of a negative bias. SGX Nifty was trading around 10,800 levels, a change of five points on the lower side.

Asian shares held near one-month highs on Monday on signs the United States and China were toning down their trade war rhetoric, while the dollar dipped again as investors wagered on a slower pace of US interest rate hikes, Reuters reported.

Over 65 BSE firms will announce their March quarter earnings on Monday, which the Street will keep an eye on. Among those include Bombay Dyeing, Hindustan Unilever, Dr Lal PathLabs, and South Indian Bank, among others.

Stocks in news:

Ashoka Buildcon executed a concession agreement with NHAI

Canara Bank: Sharp rise in provisions widens the bank’s net loss to Rs 4,859 crore

JBM Auto enters into the shareholder’s agreement with Jay Bharat Maruti and Ogihara (Thailand)

Federal Bank and its subsidairy entered into definitive agreements for Fedfina to issue fresh equity shares

Infosys: Ravi Venkatesan steps down as Independent Director ‘to pursue a new role’

Sical Logistics approves proposal to purchase 11% stake held by L&T Infrastructure Development Projects in Sical Iron Ore Terminals

Graphite India: Net profit soars to Rs 453.7 crore

Dena Bank: RBI restricts bank from assuming fresh credit exposure & recruitment of staff

JK Cement to raise fund by issue of secured/redeemable NCDs for an amount upto Rs 500 crore during 2018-19

Oriental Bank of Commerce: Net loss for Q4 widens to Rs 1,650 crore

Allahabad Bank approved raising of equity capital aggregating upto Rs 1900 crore through various modes

Technical Recommendations:

Welspun India Ltd: Buy | Target: Rs 74 | Stop-loss: – Rs. 57 |Upside: 12%

Rain Industries Ltd: Sell | Target: Rs 256 | Stop-loss: – Rs. 290 |Upside: 7%

Mahindra Lifespace Developers Ltd: Buy | Tartet: Rs 545 | Stop-loss: – Rs. 495 | Upside: 5%

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