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Sensex, Nifty maintain uptrend; Tata Motors, Tata Power up

01:20pm Interview: While the growth in the mid-term looks healthier than in the near-term, Vineet Nayyar, executive vice chairman, TechMahindra says he is cautiously optimistic on FY16 growth.

Speaking, Nayyar says the global demand scenario has seen a turmoil but US market will continue to drive growth.

On any further acquisitions, Nayyar says the company's focus right now will be on making all prior acquired companies grow at healthy rates.

01:00pm Market Check

The market remained firm in afternoon trade aided by consistent upmove in oil, pharma, select banks and auto stocks. The Sensex rallied 127.58 points to 28103.44 and the Nifty jumped 36.85 points to 8529.15.

The broader markets extended gains with the BSE Midcap and Smallcap indices rising 0.7 percent and 1.3 percent, respectively. About 1596 shares haveadvanced, 879 shares declined, and 161 shares are unchanged on the Bombay Stock Exchange.

According to Deven Choksey, KR Choksey Shares & Securities, the Nifty will consolidate in 8200-8700 range and if it breaches those levels then 9000-9200 on the upside is likely.

Reliance Industries gained further, up 2.5 percent as brokerage Morgan Stanley upgraded the stock to overweight from underweight and raised target price to Rs 1,062. Tata Motors too rallied 2.5 percent followed by Sun Pharma,HUL, Axis Bank, Maruti, Dr Reddy's Labs, GAIL, Coal India and Sesa Sterlite with 1-2 percent upside.

Tata Power and Adani Power gained 1.5-3.5 percent as Supreme Court ruled that companies can use argument of change in international law to charge highertariff.

Oil marketing companies stocks like IOC, HPCL and BPCL surged nearly 5 percent as IOC chairman, B Ashok that they will report healthy profit in Q4. Inventory losses have been made up and currently they enjoy healthy margins on petrol cracks.

However, Infosys, ITC, TCS, HDFC Bank, NTPC, Bajaj Auto and BHEL declined 0.5-1 percent. More information Please visit this site


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Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

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The Indian markets on Friday morning were trading flat with the Nifty shedding 51 points or 0.49 percent  while the Sensex was down 178 points.

The Nifty PSU banking index was up 0.6 percent led by stocks like Syndicate Bank which jumped 5 percent followed by Allahabad Bank which gained over 3 percent. IDBI Bank and OBC were the other gainers. PNB gained 2.38 percent.

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The top Nifty losers included IOC and BPCL which fell 2 percent each followed by HPCL, Tata Motors and NTPC.

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HDFC Sec retains sell on Bharti Infratel, reduces target to Rs 310 despite 22% fall in last 2 months

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

Bharti Infratel shares declined 1.5 percent to close at Rs 368 on Tuesday after HDFC Securities has reiterated its Sell rating on the stock with revised target price at Rs 310 (from Rs 387 per share) despite sharp fall in last two months. INDIAN STOCK TIPS

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

"Target price is based on 20x Dec-19E EPS (Rs 356) for business as usual (versus 24x earlier) less impact of Rs 60 per share from Vodafone-Idea merger (versus Rs 39 per share earlier) and likely acquisition of Vodafone-Idea stake in Indus at enterprise value of Rs 50 lakh per tower (+Rs 15 per share)," the research house said.

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