Big Profit Indian Stock Tips 02 May 2018

Market Snippet
Domestic bourses settled higher in tandem with global markets, as IT and Banks sector gained. The key benchmark indices opened with positive sentiments and traded with mixed sentiments throughout the day. The market breadth, which indicating the overall health of the market is positive. Positive global cues boosted investor’s sentiment.
Realty Sector was the major gainers and Metal sector were the major losers.

Global Markets Update
The pan-European STOXX index rose 0.1% while Germany’s DAX gained 0.3%, buoyed by investors’ improved risk appetite as inter-Korea tensions eased and companies delivered strong earnings.
Hitachi Ltd jumped 5% after the company forecast a record-high operating profit for this fiscal year, up 4.9% on the year to 750 billion yen.


Stock Snippets

Axis Bank approves increase in borrowing limit upto Rs 2 lakh crore. Moreover, it also Approves Scheme of Amalgamation of Accelyst Solutions & Freecharge Payments Technologies.

Allahabad bank revises Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.05.2018.

Implementation of 357 KTA Ethylene Glycol Project alongwith associated facilities at Paradip is approved by Indian Oil Corporation (IOC) with an estimated cost of Rs 4,221 crore.

Interglobe Aviation (INDIGO) accepted resignation of Aditya Ghosh as the President and Whole Time Director of the company.

Greenply Industries started commercial production of Decorative Plywood / Decorative Veneers at Gujarat unit.

Indiabulls Ventures jumped 7% after the company announced its board will meet on May 4, 2018 to consider preferential issue of equity shares.

Today, Wipro announced the expansion of the Wipro Science Education Fellowship (SEF) Program to three additional universities in the United States.

Global Markets

Japanese stocks traded flat in holiday thinned trade on Tuesday, while Sony tumbled after the company issued a profit warning.

South Korea’s KOSPI index gained 0.5% and is set to end April more than 2 percent higher on record profits from Samsung and after a spectacularly successful inter-Korean summit.

Australia’s benchmark index added 0.2% while New Zealand shares were a touch softer.

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