Nifty likely to open lower; 3 stocks which can give up to 11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.44 percent. Nifty futures were trading around 10,541-level on the Singaporean Exchange.

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The Nifty50 is expected to open lower on Friday tracking muted trend seen in other Asian markets. The index closed 39 points higher at 10,565 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.44 percent. Nifty futures were trading around 10,541-level on the Singapore Stock Exchange.

Wall Street’s three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound, said a Reuters report.

The Dow Jones Industrial Average fell 83.18 points, or 0.34 percent, to 24,664.89, the S&P 500 lost 15.51 points, or 0.57 percent, to 2,693.13 and the Nasdaq Composite dropped 57.18 points, or 0.78 percent, to 7,238.06.

Asian shares slipped as a warning on smartphone demand from the world’s largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds, Reuters report added.

Stocks in news:

TCS: Q4 profit up 5.7 percent QoQ at Rs 6,904 crore, EBIT margin at 25.4 percent; approves 1:1 bonus

Cyient: Q4 net up 16.2 percent to Rs 121.5 crore

Fortis Health: Company focusing on binding offers only, advisory panel to meet on April 25

Thomas Cook: The company has purchased 4.4 percent in Travel Corporation of India.

Indian Metals & Ferro Alloys: Company gets Rs 123 crore notices for excessive mining.

ABG Shipyard: Liberty House UK moves NCLT to challenge resolution professional’s decision

Kakatiya Cement: Company resumes operation at Telangana plant after its closure on pollution grounds

Technical Recommendations:

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

V-Guard Industries Ltd: BUY| Target, Rs 276| Stop Loss Rs232| Returns 12%

Yes Bank Ltd: BUY| Target Rs 348| Stop Loss Rs 306| Returns 9.5%

Sunteck Realty Ltd: BUY| Target 470| Stop Loss Rs 413| 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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