Nifty opened at 22458.80, marginally down from yesterday’s close and made intraday high of 22497.60 and remain in a tight range same as yesterday and close at 22453.30 down 8.70 points.  Banking shares’ heavyweights like ICICI Bank, Axis bank, Kotak were under pressure while PSU banks along with HDFC Bank were in limelight due to which index remain in range. Lately Reliance Industries showed some sort of improvement from lower levels which supported index to recover from intraday low and closed flat.

Outperformance witnessed in mid cap & small-cap stocks. Sector specific Media, Metal, Realty, PSU & Cement shown good buying interest while IT remain on weak side.

Nifty spot is facing resistance at its recent high while it has good support around 22350 levels; as RBI policy is scheduled on 5th April we can expect some sort of hesitation in the market. Q4 earnings will start from this week so investors will remain focus on the quarterly numbers in this month.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RAMCOCEM.24.04 Apr 863 1.3 37.76 6372450 INDIAMART.24.04 Apr 2593 -4.85 29.66 1015200
ABFRL.24.04 Apr 237.6 11.5 27.01 56373200 GUJGASLTD.24.04 Apr 541.55 -1.8 24.63 8020000
HAVELLS.24.04 Apr 1555.05 2.3 26.86 7545500 HINDCOPPER.24.04 Apr 311 -0.24 17.75 36135400
SAIL.24.04 Apr 149 5.08 16.48 165240000 FINNIFTY.24.04 Apr 21292.75 -0.26 15.21 61200
DALBHARAT.24.04 Apr 2042.05 1.63 16.17 3676500 LT.24.04 Apr 3827 -0.72 14.82 16757700
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GODREJPROP.24.04 Apr 2506.8 4.4 -3.48 4170500 ABB.24.04 Apr 6479.95 -1.26 -0.82 1038750
ADANIENT.24.04 Apr 3286.95 0.32 -2.48 13533600 SUNPHARMA.24.04 Apr 1629.3 -0.76 -0.43 13090000
IEX.24.04 Apr 143.1 1.35 -2.47 58961250 ABBOTINDIA.24.04 Apr 27479.1 -0.29 -0.9 207600
LAURUSLABS.24.04 Apr 418.2 2.42 -1.87 10451600
SHRIRAMFIN.24.04 Apr 2477 1.14 -1.83 5923500


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Lalpathlab 2278.15 -0.44 255094 485231 85.74 Nifty50 22453.3 -0.04 71487
Tata Consumer Products l 1131.15 4.07 5107047 1687677 75.7 Niftybank 47545.45 -0.07 71487
Bharti Airtel Limited 1208.25 -0.75 3625577 3904042 71.48 Nifty it 34793.95 -0.71 71487
Dalmia Bharat Limited 2028.35 1.81 798274 438793 69.7 India Vix 11.65 -3.56 79266
Sbi Life Insurance Compa 1470.6 -1.3 941688 583289 69.59 Nifty Fmcg 54096.95 0.39 71487
Torrent Pharma Ltd. 2668.55 -0.25 181201 293117 69.38 Nifty Pharma 19185.15 -0.12 71487
Atul Ltd. 5899.3 1.76 77601 45532 68.71 Nifty Realty 949.35 1.01 71487
Nestleind 2623.3 1.46 722883 505473 68.03 Nifty Auto 21614.25 1.07 71487
Mahindra & Mahindra Fina 296.05 3.17 4659977 1410876 67.92 Nifty Metal 8690.85 1.5 71487
Idfc Limited 115.2 1.77 5620387 5211441 67.83 Nifty Financial Services 21150.95 -0.22 71487


   Domestic                                                                                                                                                  International
INR: Interest Rate Decision on 05th April, 2024

INR: FX Reserves, USD on 05th April, 2024

USD: Initial Jobless Claims on 04th April, 2024

USD: Crude Oil Inventories on 03rd April, 2024


  • Home textiles products manufacturer Raghuvir Exim has filed draft papers with the capital markets regulator SEBI to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), filed on March 31, the IPO is a mix of fresh issue of 1.4 crore shares and an offer-for-sale (OFS) of 45 lakh equity shares by promoter Sunil Agarwal.

  • Cement stocks gained on April 2 as reports suggested that cement companies have taken an average price hike in the range Rs 10-15 per bag across the country. Shares of UltraTech Cement, Shree Cements, Ambuja Cements, ACC and Dalmia Bharat closed trading with gains in the range of one to three percent.

  • Global oil benchmark Brent rose above $88 a barrel for the first time since October on Tuesday as oil supplies faced fresh threats with more Ukranian attacks on Russian energy facilities and escalating conflict in the Middle East.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ARIGATO General 04-Apr-24 SAKUMA Rights Issue 08-Apr-24
BINNY Quarterly Results 04-Apr-24 SHKARTP General 08-Apr-24
GMBREW Bonus issue;Final Dividend;Audited Results 04-Apr-24 TRIL A.G.M.;General;Audited Results;Dividend 08-Apr-24
IRB General 04-Apr-24 VKAL Stock  Split;Increase in Authorised Capital 08-Apr-24
PRAVEG General;Issue Of Warrants;Preferential Issue of shares 04-Apr-24 INDAGIV Increase in Authorised Capital 09-Apr-24
TUNITEX General 04-Apr-24 OKPLA Audited Results 09-Apr-24
7SEASL General 05-Apr-24 VIJIFIN Audited Results 09-Apr-24
ENERGYDEV General 05-Apr-24 AGOL Quarterly Results;General;Audited Results 10-Apr-24
METALFORGE Quarterly Results 05-Apr-24 BETALA Quarterly Results;Audited Results 10-Apr-24
KAUSHALYA General 06-Apr-24 ANANDRATHI Final Dividend;General;Audited Results 12-Apr-24
RJSHAH General 06-Apr-24 TCS Final Dividend;Audited Results 12-Apr-24
AFFORDABLE General 08-Apr-24 EASTSUGIND General 15-Apr-24
CUPID General;Audited Results 08-Apr-24 ANGELONE Quarterly Results;Audited Results 17-Apr-24
FORTISMLR Interim Dividend 08-Apr-24 ICICIGI Final Dividend;Audited Results 17-Apr-24
GUJTLRM Interim Dividend 08-Apr-24 BAJAJ-AUTO Audited Results;Dividend 18-Apr-24
KUMPFIN General 08-Apr-24 HDFCLIFE Audited Results 18-Apr-24

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASHOKLEY 03-Apr-24 Interim Dividend – Rs. – 4.9500 PRIMAPLA 08-Apr-24 Interim Dividend – Rs. – 2.0000
IYKOTHITE 03-Apr-24 Right Issue of Equity Shares PROMAX 08-Apr-24 E.G.M.
SEML 03-Apr-24 Bonus issue 1:2 SUNTV 08-Apr-24 Interim Dividend – Rs. – 3.0000
SHIVACEM 03-Apr-24 Right Issue of Equity Shares DCMSRIND 10-Apr-24 Interim Dividend – Rs. – 2.0000
CUPID 04-Apr-24 Bonus issue 1:1 VESUVIUS 10-Apr-24 Final Dividend – Rs. – 12.7500
CUPID 04-Apr-24 Stock  Split From Rs.10/- to Rs.1/- GOODLUCK 12-Apr-24 Interim Dividend – Rs. – 2.0000
SAVFI 04-Apr-24 Right Issue of Equity Shares MOLDTECH 12-Apr-24 Interim Dividend
SUNCLAY 04-Apr-24 Interim Dividend – Rs. – 5.1500 MOLDTKPAC 12-Apr-24 Interim Dividend
VBL 04-Apr-24 Final Dividend – Rs. – 1.2500 SHK 12-Apr-24 Interim Dividend – Rs. – 0.7500
AAPLUSTRAD 05-Apr-24 Right Issue of Equity Shares FORTISMLR 16-Apr-24 Interim Dividend
BTML 05-Apr-24 Stock  Split From Rs.10/- to Rs.1/- SBGLP 18-Apr-24 Stock  Split From Rs.10/- to Rs.1/-
ESABINDIA 05-Apr-24 Interim Dividend – Rs. – 24.0000 STOVACQ 18-Apr-24 Final Dividend – Rs. – 17.0000
VISCO 05-Apr-24 Interim Dividend – Rs. – 1.0000 SCHAEFFLER 19-Apr-24 Final Dividend – Rs. – 26.0000
IMFA 08-Apr-24 Special Dividend – Rs. – 15.0000 NICCOUCO 23-Apr-24 E.G.M.
INDUSFINL 08-Apr-24 E.G.M. ABB 03-May-24 Final Dividend – Rs. – 23.8000
MASL 08-Apr-24 Resolution Plan -Suspension SANOFI 03-May-24 Final Dividend – Rs. – 117.0000

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)

Disclosure Appendix

Analyst Certification (For Reports)

Kiran Tahlani, Elite Wealth Limited,

The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.

As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:

(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and

(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.

For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.

Research Excerpts

This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or e-mailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail

Options related research:

If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at

Other Disclosures

All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.

Ownership and material conflicts of interest Disclosure

Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.

Country Specific Disclosures

India – For private circulation only, not for sale.

Legal Entities Disclosures

Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth  Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone: 011-43035555, Facsimile: 011-22795783 and Website:

EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:

  1. Reports
  2. a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;

(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;

(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

  1. Compensation

(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;

(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;

(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;

(d) EWL  or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;

(e) EWL or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.

3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL has never been engaged in market making activity for the subject company;
(6) EWL shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.