Market Research Report
Top News
1 MPC Minutes: Inflation concerns continue to
dominate policy review
Majority of Reserve Bank of India (RBI) monetary policy committee
members expressed caution on upside risks to inflation, particularly
emanating from uncertainties in food prices, at the panel's policy
review, showed the minutes of the meeting on April 19.
"While low core inflation would further the disinflation process,
concerns remain on food inflation outlook. We need to remain
watchful on upside risks to inflation outlook from adverse climatic
factors, supply side shocks and geopolitical events," said Rajiv
Ranjan in RBI minutes.
Adding to this, RBI Deputy Governor Michael Debabrata Patra said
recent inflation prints and high frequency data on salient food prices
indicate that food inflation risks remain elevated.
22 April, 2024
2 IPO Market Action: 4 public issues to open for
subscription with 4 SME listings lined up next week
The mainboard segment of the primary market will remain quiet as there will
be no listing taking place in the week starting April 22. However, JNK India
will hit the Street as it opens subscription to its Rs 649.5-crore initial public
offer this week.
The Emmforce Autotech IPO is valued at Rs 53.90 crores and comprises
entirely of a fresh issue of 55 lakh shares. It will open for subscription on April
23, 2024, and close on April 25, 2024. The allotment for the IPO is expected
to be finalized on Friday, April 26, 2024. The price band for the Emmforce
Autotech IPO is set at Rs 93 to Rs 98 per share.
Maharashtra-based JNK India has set a price band of Rs 395-415 per share
for its upcoming public issue, which is set to open for subscription on April
23 and close on April 25. Anchor investors will have the opportunity to place
their bids on April 22.
 Market Research Report
Top News
3 CNH Industrial looks to leverage India's tech skills, cost
advantages for global requirements
Global agricultural and construction solutions major CNH Industrial is
looking to leverage Indian talent and cost advantages to develop its future
technologies and products for global requirements, according to a senior
company official. The company, which has recently expanded its India
Technology Centre (ITC) with the addition of a cutting-edge multi-vehicle
simulator (MVS), is looking at the centre to play a pivotal role in its global
operations while also considering moving projects from Europe and the US
to India.
"For us, India is one of the most strategically important regions...India, we
say, is the best-cost country, not the low-cost. In India, you have very skilled
and qualified engineers," CNH Industrial Chief Technology Officer Friedrich
Eichler told PTI.
4 Health insurance for your ageing parents is now
possible as IRDAI scraps age limit
With an aim to expand the market and foster adequate protection
from healthcare expenses, insurance regulator IRDAI has removed
the age limit of 65 years for individuals buying health insurance
policies.This marks a significant change from the old rules that
stopped people from getting full coverage.
By abolishing the maximum age restriction on purchasing health
insurance plans, the Insurance Regulatory and Development
Authority of India (IRDAI) aims to foster a more inclusive and
accessible healthcare ecosystem, ensuring adequate protection
against unforeseen medical expenses.
 Market Research Report
PRE - Market Report

On Friday, the market ended its downward streak with a rally and
investors showed a reduction in their losses. This week in the quiet
period ahead of the Fed rate meeting, the market may rally on the
upper range.

NIFTY, we draw a trend line at the high of the downtrend and

Friday's close was below this pressure line. If the market breaks
out to the upside on Monday, there will be resistance above at
22270. If the index fails to break out to the upside, it could
encounter another round of pullback. Investors should take care to
re d uce the ir long positions a nd w a i t f o r s u i t a b l e b u y i n g
opportunities. The lower support is at 22000.
 Market Research Report
PRE - Market Report

BANKNIFTY, which was positive on Friday, rising ahead of

the rest of the sector, may continue to rally upwards today,
but with limited space. Focus on the support below at
47,400, if it is breached to the downside during the day, the
lower support is at 47,000.
 Market Research Report
Stock Recommendations

RAYMOND
Action: Buy
Recommended Price:1970-1990
Target: 2150
Duration: 7Days

Analysis:
Established in 1925, Raymond Limited is a diversified group involved in the textile and apparel industry with exposure to various sectors
such as real estate, FMCG, engineering, etc. It is one of the largest vertically and horizontally integrated manufacturers of worsted
western wear fabrics in the world. The company's profit has grown at a CAGR of 37.4% over the last 5 years and the company's working
capital requirement has reduced from 71.5 days to 55.3 days. The upward breakout above the previous high resistance level on Friday and
the surge in volume indicates increased buying interest and is recommended for inclusion in portfolios.
 Market Research Report
Options Strategy

NIFTY 50 INDEX FUTURES ,which saw rebound force on Friday, the upward momentum
may start decaying today and one can look for buying opportunities in put options at
higher levels. Today, you can focus on NIFTY APR 22180 PE and buy near 40-50.

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