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Exide Industries: What is next after the huge rally? Partnership with the Korean duo offers limited benefit in the near to medium term

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ITC LATEST NEWS

ITC's subsidiary to acquire Blazeclan Technologies for Rs 485 crore The acquisition of the Pune-based IT firm will supplement ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with focus on the partner eco-system to accelerate future growth, according to a filing

For 18 .04 .2024

Trade setup for today: 15 things to know before opening bell Based on the OI percentage, a total of 44 stocks were on the short-covering list which included Exide Industries, Coromandel International, Mahanagar Gas, Birlasoft, and Dr Lal PathLabs.

For 15.04.2024

Trade setup for today: 15 things to know before opening bell A short build-up was seen in 96 stocks, including Page Industries, Sun Pharmaceutical Industries, GNFC (Gujarat Narmada Valley Fertilizers & Chemicals), Bandhan Bank, and Maruti Suzuki India.

Monday (April 15)

India WPI Inflation: India's wholesale prices climbed by 0.20% year-on-year in February 2024, easing from a 0.27% rise in the previous month. The data for the month of March is awaited.
India WPI Manufacturing YoY: India's wholesale manufacturing prices declined 1.27% year-on-year in February 2024, slipping further from a 1.13% decrease in the previous month. The numbers for the month of March will be declared on this day.
Euro Area Industrial Production: Industrial production in the Euro Area plunged by 6.7% year-on-year in January 2024, marking a stark reversal from the downwardly revised 0.2% growth recorded in December, 2023. The numbers for February is awaited.

India Balance of Trade: India's merchandise trade deficit widened to $18.7 billion in February 2024 from a $16.6 billion gap a year earlier. Exports soared 11.9% year-on-year to $41.4 billion boosted by sales of drugs and pharmaceuticals, engineering and electrical goods.

US Retail Sales: Retail sales in the US were up 0.6% month-over-month in February 2024, following an upwardly revised 1.1% fall in January and below market forecasts of a 0.8% gain. The numbers for the month of March will be announced.

Tuesday (April 16)
Earnings: Crisil
China GDP Growth Rate: The Chinese economy expanded 5.2% yoy in Q4 of 2023, faster than a 4.9% growth in Q3. The data for Q1FY25 is awaited.
China Industrial Production: China's industrial production expanded by 7.0% year-on-year in January-February 2024 combined, faster than a 6.8% growth in December 2023 and beating market forecasts of 5%. The figures for the month of march is expected.
US Manufacturing Production: US manufacturing production decreased 0.65 percent in February of 2024 over the same month in the previous year, following a 1.1 percent drop in January. The data for March is awaited.
Wednesday (April 17)
Earnings: Hathway, ICICI Lombard Insurance, Tata Communication
UK Inflation Rate: The United Kingdom's inflation rate dropped to 3.4% year-on-year in February 2024, down from 4% recorded in both January '24 and December '23 and falling below the market expectation of 3.5%. The inflation rate for March is to announced.

Euro Area Inflation Rate: The consumer price inflation rate in the Euro Area declined to 2.4% year-on-year in March 2024, falling short of market expectations of 2.6%, a preliminary estimate showed. The final reading for the month of March will be declared.
Thursday (April 18)

Earnings: Bajaj Auto, HDFC Life Insurance
US Initial Jobless Claims: The number of people claiming unemployment benefits in the US fell by 11,000 to 211,000 in the week ending April 6th, and below market expectations of 215,000. The data for the week ending April 13 is awaited.
Friday (April 19)
Earnings: Jio Financial Services, Wipro
India Elections: The first phase of the General Elections in India begins.

India Bank Loan Growth: The value of loans in India increased 20.2% year-on-year in the fortnight to March 22. The data for the fortnight ending on April 5 is awaited.
India Foreign Exchange Reserves: Foreign Exchange Reserves in India increased to $645.580 billion in March 29 from $642.630 billion in the previous week. Numbers for the week ending April 5 is to be declared.

India MPC Meeting Minutes: The Reserve Bank of India held its benchmark policy repo at 6.5% for the seventh consecutive meeting in April 2024, as widely expected amid persistent price pressures.

Shout out to my newest followers! Excited to have you onboard! உங்கள் சுரேஷ், K Senthil Kumar, Lokesh Lok, Balasubramanian Govindasamy, Deepavathi Rathinasamy, Natarajan Natarajan, Gangadharan Gangadharan, Murugesan Muthusamy, Mukesh Vertex, Sivashankar Manoharan, Geetha Ganesh

Trade setup for Friday: 15 things to know before opening bell Based on the OI percentage, a total of 75 stocks were on the short-covering list. These included Hindustan Petroleum Corporation, Apollo Tyres, MCX India, Exide Industries, and Eicher Motors.

Canara Bank, Voltas among 18 stocks likely to enter MSCI India index in May rejig Canara Bank is likely to lead the most flows, bringing around $228 million, followed by Voltas at $174 million, JM Financial has said

ABOUT PAYTM

Paytm sees new FPIs ramp up investment, domestic investors hike stakes by 1.68% Retail investors hold 14.53 percent stake in Paytm, a jump from 12.85 percent previously, as mutual funds boost their holdings further to 6.15 percent

Cost of overseas equity investments goes up for India’s wealthy Sebi’s March 24 circular directed Indian asset managers to stop accepting fresh inflows into schemes that invest in foreign shares or ETFs since the industry-wide limit of $1 billion has almost been breached.

The pivot point calculator indicates that the Nifty 50 may face resistance at the 22,524 level followed by the 22,561 and 22,603 levels. On the lower side, the index may take immediate support at the 22,451 level followed by 22,425 and 22,383 levels.

For today 08.04.2024

April 8 (Monday)
US Consumer Inflation Expectations: US consumer inflation expectations for the year ahead came in steady at 3 percent in February, the same as in the previous two months, marking three-year lows. Consumers expect a slight increase in gas prices, up 0.1 percentage point to 4.3 percent while inflation expectations remained unchanged for food at 4.9 percent and homes at 3 percent. What next in March? It will be clear on Monday.
April 9 (Tuesday)
US Business Optimism Index: The Small Business Optimism Index in the US dipped to 89.4 in February, the lowest in nine months, from 89.9 in January, going below forecasts of 90.7. According to 23 percent of small business owners, inflation remained their single most important business problem. Whether March will bring any relief remains to be seen.
April 10 (Wednesday)
US Inflation Rate: The Consumer Price Index in the United States firmed up 0.4 percent month-on-month in February, the widest in five months, as against 0.3 percent in January, in line with forecasts. Prices for shelter (0.4 percent) and gasoline (3.8 percent) accounted for over 60 percent of the increase.
The March print is due on Wednesday.
April 11 (Thursday)
ECB Interest Rate Decision: The European Central Bank kept its interest rates at historically high levels in March as policymakers balanced recession concerns with sticky inflationary pressures. Is it a little better this time? Wait for Thursday to know what is playing on ECB's mind.
US Initial Jobless Claims: The number of job seekers claiming unemployment benefits in the US dropped to 210,000 for the week to March 23, as against market expectations of 215,000. This extended the momentum of relatively low claim counts since the start of February. The numbers for the week through April 6 is on the way.
April 12 (Friday)
Retail Inflation: Annual retail inflation as measured by consumer price index (CPI), stood little changed at 5.09 percent in February as against 5.1 percent in January and market forecasts of 5.02 percent. Food inflation stayed sticky at 8.66 percent, slightly higher than 8.3 percent in January. All eyes are on March figures.
Industrial Production (IIP): Factory output measured in terms of IIP increased 3.8 percent year-on-year in January, after an upwardly revised 4.2 percent jump in the previous month and below market expectations of 4.1 percent. Manufacturing output, which accounts for 78 percent of total output, rose by 3.2 percent, easing from the earlier 4.5 percent gain.

Amazon sets up Bazaar to sell unbranded, low value items in India Amazon Bazaar will compete with SoftBank-backed Meesho and Flipkart’s Shopsy. The platform will largely sell unbranded products, including apparel, watches, shoes, jewellery, and luggage, all priced below Rs 600.

MC Interview: India will continue to outperform in FY25, see many large IPOs post polls — Neha Agarwal, JM Financial With strong GDP growth and improving market cap-to-GDP ratio, Agarwal expects that India’s market cap will hit the $5 trillion mark soon.

Byju breached loan terms, small stake sale blocked, shows order The company, now valued at around $250 million, denies any wrongdoing.

The pivot point calculator indicates that the Nifty 50 may face resistance at the 22,600 level followed by the 22,674 and 22,794 levels. On the lower side, the index may take immediate support at the 22,359 level followed by 22,284 and 22,164 levels.

FOR 05.04.2024

Final Composite PMI for March even better than the advance estimate The March final PMI data will tell the Monetary Policy Committee that growth is not only strong, but momentum is increasing, while price pressures in services are rising

The pivot point calculator indicates that the Nifty 50 may face resistance at the 22,501 level followed by the 22,542 and 22,609 levels. On the lower side, the index may take immediate support at the 22,367 level followed by 22,326 and 22,260 levels.

The pivot point calculator indicates that the Nifty 50 may face resistance at the 22,488 level followed by the 22,514 and 22,556 levels. On the lower side, the index may take immediate support at the 22,405 level followed by 22,379 and 22,337 levels.

For today's trading

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