Nifty Remained Sideways but Ended on Record Close

Nifty opened at 22720.25, a gap up of 77.50 points from Tuesday’s close and made fresh high of 22,775.70 and again closed at record level of 22753.80 up 111.05 points or 0.49%.

The gains were majorly due to rise in heavy-weight stocks like Reliance Industries, ITC, Bharti Airtel, Kotak Mahindra Bank and SBI. While Mahindra & Mahindra, HDFC Life, Maruti Suzuki, Larsen & Toubro and HDFC Bank helped it to be in the range.

In line with the benchmark indices, the wider markets ended the day higher. The BSE MidCap ended with a 0.89% increase, while the SmallCap had a 0.46% gain. On BSE, 1960 stocks advanced, 1868 stocks declined and 105 remained unchanged.

Among the sectoral indices, the Nifty Media index (up 1.80%), the Nifty PSU Bank index (up 1.53%) and the Nifty Oil & Gas index (up 1.50%) outperformed the Nifty50 index. Meanwhile, the Nifty Pharma Index (down 0.34%), the Nifty Auto index (down 0.06%) and the Nifty Healthcare index (up 0.07%) underperformed the Nifty 50 index.

The Nifty’s short-term trend is still upward, and the market’s continuous range movement suggests the potential for significant swings either way.

DERIVATIVE PICKS

TOP  DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

• A stuttering recovery in lithium prices is providing a fresh reminder of why the dramatic rally of recent years was followed by an even more breathtaking collapse: a fast-expanding industry that is more prepared than ever to keep pumping out supplies.

 

• A host of sugar stocks rose in trade just minutes shy of market close on April 9 after Bloomberg reported that the Indian government may divert more sugar to produce ethanol. Balrampur Chini Mills shot up to Rs 393, up 2 percent from the previous close. Shree Renuka Sugars and Dhampur Sugar Mills climbed 7 percent and 3 percent, respectively.

 

• Battery manufacturers like Exide Industries and Amara Raja Batteries have extended gains on April 9, rallying up to 20 percent in the last three sessions on the back of a combination of partnerships, bullish brokerage calls and robust growth prospects.

 

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

BOARDS MEETINGS

Company Name	Purpose	Meeting Date	Company Name	Purpose	Meeting Date
AKSHAR	General	12-Apr-24	GTPL	Final Dividend;Audited Results	15-Apr-24
AMIORG	General	12-Apr-24	HATHWAYB	Audited Results	15-Apr-24
ANANDRATHI	Final Dividend;General;Buy Back of Shares;Audited Results	12-Apr-24	HITKITGLO	General;Audited Results	15-Apr-24
ASTERDM	Dividend;Interim Dividend;General;Special Dividend	12-Apr-24	ONTIC	Audited Results	15-Apr-24
BHANDARI	Right Issue of Equity Shares;General;Rights Issue	12-Apr-24	RAJOOENG	Final Dividend;Audited Results	15-Apr-24
FORTISMLR	Interim Dividend	12-Apr-24	SPYL	Audited Results	15-Apr-24
HAZOOR	General	12-Apr-24	SYBLY	Audited Results	15-Apr-24
METALFORGE	Quarterly Results	12-Apr-24	AIHL	General	16-Apr-24
TCS	Final Dividend;Audited Results	12-Apr-24	CRISIL	Interim Dividend;Quarterly Results	16-Apr-24
ZMILGFIN	Quarterly Results;Audited Results	12-Apr-24	DEN	Audited Results	16-Apr-24
COLORCHIPS	Audited Results	13-Apr-24	IGCIL	General	16-Apr-24
DHAMPURE	General	13-Apr-24	LYKALABS	General	16-Apr-24
MADHAV	General	13-Apr-24	NATURAL	Increase in Authorised Capital;General	16-Apr-24
YUG	Rights Issue	13-Apr-24	SGMART	General;Audited Results	16-Apr-24
ATAM	Final Dividend;Quarterly Results;Audited Results	15-Apr-24	TYROON	General	16-Apr-24
GICRE	General	15-Apr-24	ANGELONE	Quarterly Results;Audited Results	17-Apr-24

Corporate Action

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
GOODLUCK	12-Apr-24	Interim Dividend – Rs. – 2.0000	TIPSINDLTD	22-Apr-24	Buy Back of Shares
MOLDTECH	12-Apr-24	Interim Dividend – Rs. – 2.0000	ANUP	23-Apr-24	Bonus issue 1:1
MOLDTKPAC	12-Apr-24	Interim Dividend – Rs. – 2.0000	ASTERDM	23-Apr-24	Interim Dividend
SHK	12-Apr-24	Interim Dividend – Rs. – 0.7500	FORTISMLR	23-Apr-24	Interim Dividend
SPRAYKING	12-Apr-24	Stock  Split From Rs.10/- to Rs.2/-	NICCOUCO	23-Apr-24	E.G.M.
SAKUMA	15-Apr-24	Right Issue of Equity Shares	SWRNASE	23-Apr-24	E.G.M.
IIL	16-Apr-24	Bonus issue 1:1	VUENOW	23-Apr-24	Interim Dividend – Rs. – 0.5000
INFRATRUST	16-Apr-24	Income Distribution (InvIT)	BBL	24-Apr-24	Stock  Split From Rs.10/- to Rs.5/-
SBGLP	18-Apr-24	Stock  Split From Rs.10/- to Rs.1/-	ELANTAS	30-Apr-24	Final Dividend – Rs. – 5.0000
STOVACQ	18-Apr-24	Final Dividend – Rs. – 17.0000	ABB	03-May-24	Final Dividend – Rs. – 23.8000
GUJTLRM	19-Apr-24	Interim Dividend – Rs. – 1.0000	CRISIL	03-May-24	Interim Dividend
NBL	19-Apr-24	Bonus issue 2:1	SANOFI	03-May-24	Final Dividend – Rs. – 117.0000
PULSRIN	19-Apr-24	Stock  Split From Rs.10/- to Rs.1/-	HCLTECH	07-May-24	Interim Dividend
SCHAEFFLER	19-Apr-24	Final Dividend – Rs. – 26.0000	TRIL	10-May-24	Dividend – Rs. – 0.2000
SHUKRAPHAR	19-Apr-24	Bonus issue 3:1
AEGISLOG	22-Apr-24	Interim Dividend

 

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 www.elitewealth.in. 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, kirantahlani@elitestock.com

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 www.elitewealth.in.

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or e-mailing research@elitestock.com 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 research@elitestock.com.

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 https://www.elitewealth.in

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: www.elitewealth.in

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;

2. 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.