The domestic market is expected to open flat, tracking negative trend seen in Asian markets, which dipped after a long winning run on Wall Street ended overnight.
However, Nifty futures' trend in Singapore suggested a mildly positive opening. At 7:50 am, SGX Nifty was trading at 10,410, up 44.50 points or 0.43 per cent.
ALSO READ: Gitanjali Gems looks set to wind up, gives pink slips to employees
Below are the key trading ideas for Wednesday's trade:
Eros International (Buy)
Target: Rs 210
Stoploss: Rs 195
- RIL bought 5 per cent stake in Eros International PLC
- RIL bought it for $15 per share
- The deal is worth Rs 1000 crore
- Eros PLC is Eros India's parent company
OBC (Buy)
Target: Rs 110
Stoploss: Rs 105
- PSU bank stocks recovered in the previous session
- Share no longer in F&O ban
Indian Bank (Buy)
Target: Rs 335
Stoploss: Rs 323
- PSU bank stocks recovered in the previous session
- Short-covering in the stock in the previous session; OI reduced 7%
HDIL (Buy)
Target: Rs 53
Stoploss: Rs 50.9
- The stock will come out of F&O bank from April 27: Nse
Indiabulls Real Estate (Buy)
Target: Rs 225
Stoploss: Rs 215
- Blackstone in talks to buy 49% in office rental business of Indiabulls
- The deal is expected to be fixed at $60-65 crore
- Company’s annual rental income currently stands at Rs 720 crore
- The company owns rental space of 50 lakh Sq Ft
- IB Real deals with over 200 big clients
- Blackstone's investment in realty sector stands at $270 crore so far
Reliance Infra (Buy)
Target: Rs 454
Stoploss: Rs 440
Idea (Buy)
Target: Rs 86
Stoploss: Rs 83.2
Ramco Cements (Buy)
Target: Rs 745
Stoploss: Rs 723
- Buying witnessed in cement shares in previous session
- Short-covering seen in the stock yesterday; OI reduced 11%
BSE (Buy)
Target: Rs 822
Stoploss: Rs 800
- Sebi approval to launch cross-currency derivatives
Nitin Spinners (Buy)
Target: Rs 117
Stoploss: Rs 107
- Board approval to release 3.32 lakh preferential shares
- Promoters will receive shares at Rs 120.5 per share
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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07:54 AM IST