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The Nifty50 is expected to open on a flat to positive note on Monday, following a contrasting trend seen in other Asian markets. The index closed down 47 points to 10,930 on Friday.
Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 12 points or 0.11%. Whimsical futures were trading at around 10,971 on the Singapore Stock Exchange.
The US dollar advanced on Friday as the euro fell amid growing concern over an Italian budget with a higher-than-expected deficit target, which also rocked European equities, according to a report from the US. Reuters Agency.
Asian markets are mixed on Monday morning, judging by data released Sunday that show a slowdown in the Chinese manufacturing sector.
Oil prices have firmly opened Monday and Brent's closest is at its highest level for nearly four years before US sanctions against Iran come into effect next month.
Stocks in the news:
IL & FS Transport Networks: India Ratings removed its rating on the company's commercial paper of Rs. 310 crore, while CARE downgraded the rating of its long-term banking facilities by Rs. 2,241.5, its banking facilities short-term of its 230 crore and non-convertible debentures at D.
Bharti Airtel: In clarification, the company stated that the company, alone or through its subsidiaries, continued to evaluate various fundraising opportunities (equity and debt). in accordance with the requirements of its usual activity.
Mahindra & Mahindra: CRISIL has reaffirmed its ratings on Mahindra & Mahindra's long-term bank loan facilities to the tune of 1,100 crore AAA / and A1 + short-term facilities.
Minda Industries has finalized the acquisition of 41.67% stake in Toyoda Gosei Minda India
Ashiana Housing: The Executive Committee of Directors granted 1,874 non – convertible unsecured debentures on a private placement basis for Rs 18.74 crores.
The MCA commissioned the audit of Vakrangee's account books for a period of three fiscal years.
Bandhan Bank: RBI froze the remuneration of MD & CEO until further notice.
Technical recommendations:
We talked to Way2Wealth Brokers Pvt. Ltd and here is what they should recommend:
ITC: Buy | LTP: Rs 296.70 | Buy Around 295 | Target: 315 Rs | Stop Loss: Rs 287 | Back 6%
Titan Company Ltd: Sell | LTP: Rs 805.50 | Sell around Rs 820 – 825 | Target: 740 rupees | Stop Loss Rs 861 | Back 8%
V-Guard: sale | LTP: Rs 176.35 | Sell around Rs 180 – 182 | Target: 150 rupees | Stop Loss: Rs 194 | Back 14%
Disclaimer: The views and investment advice expressed by the investment expert on Moneycontrol.com are his own and not those of the website or its management. Moneycontrol.com advises users to consult certified experts before making any investment decision.
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