Market Headstart: Nifty likely to open on negative note; 3 stocks which could give 6-13% return

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Trends on SGX Nifty indicate a lower opening for the broader index in India, a fall of 51 points or 0.48 percent. Nifty futures were trading around 10,533-level on the Singaporean Exchange.

The Nifty50 is likely to open on negative note on Monday following a weak trend seen in other Asian markets. The index closed 259 points lower at 10,599 on Thursday.

Trends on SGX Nifty indicate a lower opening for the broader index in India, a fall of 51 points or 0.48 percent. Nifty futures were trading around 10,533-level on the Singaporean Exchange.

Asia markets are trading lower on Friday morning after benchmark US Treasury yields surged to a seven-year high and strong economic data fanned concerns about inflation and the risk of faster-than-expected interest rate rises, said a Reuters report.

Oil prices rose on Friday, lifted by looming US sanctions against Iran’s crude exports that are set to start next month, it added.

Stocks in the news:

Titan Company: While the Watch business carried on its good run from the first quarter, the growth in the Jewellery business picked up very well after a relatively soft growth in Q1’19.

Cupid board meeting on October 13 to consider and approve the allotment of bonus shares and other business matters

Bhushan Steel: Production in Q2FY19 at 1.05 million tonne versus 0.85 million tonne and sales at 1.14 million tonne versus 1.03 million tonne (YoY). Q2 FY19 production is higher than Q2 FY18 mainly due to better plant availability.

Indiabulls Housing Finance: Company allotted its Seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 350 crore.

Punj Lloyd
International Finance Corporation (IFC) has filed an application before NCLT under IBC
The above application by IFC was listed for hearing before the NCLT today

The company would suitably respond to the same in due course

Thomas Cook (India): ICRA has withdrawn its credit rating assigned to Rs 100 crore non-convertible debentures programme of the company as the same were fully redeemed and there is no amount outstanding against it.

Future Consumer: CARE has re-affirmed its rating assigned to the company in respect of bank facilities, non- convertible debentures and commercial paper.

Technical Recommendations:

Hindalco Industries Ltd: Buy| Target: Rs 285| Stop Loss: Rs 236| Returns 13.5%

Adani Ports: Sell Oct Futs| Target: Rs 298| Stop Loss: Rs 330| Returns 6.5%

Piramal Enterprises Ltd (PEL): Buy| Target: Rs 2510| Stop Loss: Rs 2191| Returns 9%