Nifty likely to open higher; top 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 12 points or 0.11 percent. Nifty futures were trading around 11,035-level on the Singaporean Exchange.

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The Nifty50 is likely to open higher on Friday tracking positive trend seen in other Asian markets. The index closed 74 points higher at 11,023 on Thursday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 12 points or 0.11 percent. Nifty futures were trading around 11,035-level on the Singaporean Exchange.

US stocks climbed on Thursday as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before, said a Reuters report.

Asian shares were higher on Friday following gains on Wall Street overnight, as concerns over an escalating US trade war with China took a breather, it said.

India’s second-largest software services exporter, Infosys is expected to post 1.2-3.1 percent sequential growth in constant currency revenue in the June quarter.

A Reuters poll of analysts sees profit at Rs 3,747.6 crore. Infosys is likely to report 8.5 percent YoY rise in net profit to Rs 3784.20 crore for the quarter ended June, according to estimates by Motilal Oswal.

Stocks in news:

Results Today: Infosys, 3i Infotech, Bajaj Corp

Fortis Healthcare approves binding investment proposal from IHH Healthcare

HCL Tech approved buyback of 3.63 crore shares at Rs 1100 per share

Cyient: Q1 net profit at Rs 82.5 crore; revenue at Rs 1,097 crore

Vakrangee: Company entered an alliance with Reliance Nippon Life Asset Management, which through company’s Nextgen Vakrangee Kendras shall offer distribution of mutual fund products to the Citizens on PAN India basis

Allahabad Bank: Bank proposes to sell its non-core assets including divestments of its stake in joint ventures, associates, selling some of the immovable properties

SRS Real Infrastructure: Board appointed Dheeraj Kumar as CFO of the company

Technical Recommendations:

Wipro: Buy| Target: Rs 303| Stop Loss: Rs 267| Returns 8.5%

Dr Reddy’s Labs: Buy| Target: Rs 2,517| Stop Loss: Rs 2,272| Returns 7%

Bajaj Electricals Ltd: Buy| Target: Rs 611| Stop Loss: Rs 536| Returns 9%

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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