Stocks to buy under ₹200: After a positive start supported by favourable global cues, the Indian stock market witnessed sharp selling on Friday. This was on account of profit booking, which came in as cross-border tensions between India and Pakistan escalated following the terrorist attacks in Pahalgam, Kashmir. The Nifty 50 index crashed 207 points and closed at 24,039. The BSE Sensex shed 588 points and finished at 79,212. The Bank Nifty index ended 537 points lower at 54,664. All the sectoral indices, barring Nifty IT, are closed in red. Realty and Financial services indices were the top losers, falling by nearly 3% each.
On the positive side, FII buying continued for the seventh consecutive session with inflows of around ₹8,250 crores on Thursday. Further, news flows indicated some softness in the US-China tariff war, while India is expected to be closer to signing a trade deal with the US. Geopolitical developments between India and Pakistan could add volatility to the Indian market over the next few days.
Stock market outlook
Mehul Kothari, Deputy Vice President—Technical Research at Anand Rathi, believes the Indian stock market sentiment turned cautious following news from Kashmir, triggering some panic on Dalal Street. Mehul Kothari of Anand Rathi said a correction was due on the Nifty 50, BSE Sensex, and other Indian indices after the sharp rebound in the Indian stock market post-Trump’s 90-day pause on tariffs.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari said, “Technically, the Nifty index was exhibiting multiple negative divergences on the hourly chart, indicating that a corrective move was due. In line with this setup, we witnessed a pullback in the index, which retested the previous breakout zone near 23,800. So far, this key support level has held firm, but a decisive breach below 23,800 may trigger further profit booking, potentially dragging the index towards the 23,500 mark, which coincides with the placement of the 200-day EMA. Conversely, a sustained move above 24,400 would reignite bullish momentum, possibly paving the way for a rally towards the 24,800 – 25,000 zone. Given the ongoing geopolitical tensions, we prefer to wait for clearer signals before becoming aggressive. While the broader structure remains bullish, traders are advised to stay light and manage risk in the near term.”
“The Bank Nifty index has been phenomenal over the past few weeks, and this week, it extended its rally towards the 56,000 mark in the initial sessions. However, this move was accompanied by negative divergence, indicating exhaustion and calling for a healthy pullback. In line with this, the index corrected back to the 54,000 zone and ended the week with only a marginal change. A decisive move below 54,000 could lead to further downside towards the 53,000 to 52,500 zone. On the upside, a breakout above 55,500 would likely reignite momentum in banking stocks, bringing bulls back into action,” said Kothari.
Mehul Kothari’s stock recommendations
Regarding stocks to buy under ₹200, Mehul Kothari recommended these three shares buy or sell: CESC, Bandhan Bank, and GAIL India.
Upcoming IPOs: One mainboard, four SME public issues scheduled for next week; check full list here
The market will also witness opening of four new issues in the small and medium enterprise (SME) segment as well.
Upcoming IPOs: One mainboard, four SME public issues scheduled for next week; check full list here
The market will also witness opening of four new issues in the small and medium enterprise (SME) segment as well.
The primary market is all set to be back in action as one new initial public offering (IPO) in the mainboard segment will be opening for subscription next week after more than a month.
The market will also witness opening of four new issues in the small and medium enterprise (SME) segment as well.
“Q1 2025 witnessed a significant downturn, reflecting weak public market sentiment. IPO activity dropped by 41% in volumes and 77% in values, with 16 IPOs raising USD 2.6 billion, marking the second lowest quarterly volumes in last seven quarters. Despite this slowdown, the quarter saw one billion-dollar IPO—Hexaware Technologies raising USD 1 billion in January,” said Grant Thornton Bharat report.
Other than new IPOs, the market will also witness listing of Tankup Engineers Limited IPO on Wednesday, April 30.
Here’s a list of IPOs which will remain open for subscription next week –
Ather Energy IPO
Ather Energy IPO will open for subscription on April 28 and close on April 30. The IPO is a book-building of ₹2,981.06 crore and is a combination of fresh issue of 8.18 crore shares aggregating to ₹2,626.30 crore and offer for sale of 1.11 crore shares aggregating to ₹354.76 crore.
Ather Energy IPO price band is set at ₹304 to ₹321 per share. Axis Capital Limited, Hsbc Securities & Capital Markets Pvt Ltd, Jm Financial Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Ather Energy IPO, while Link Intime India Private Ltd is the registrar for the issue.
Iware Supplychain Services IPO
Iware Supplychain Services IPO will open for subscription on April 28 and close on April 30. The IPO is a fixed price of ₹27.13 crore and is entirely a fresh issue of 28.56 lakh shares.
Iware Supplychain Services IPO price is ₹95 per share. GetFive Advisors Private Limited is the book-running lead manager of the Iware Supplychain Services IPO, while Kfin Technologies Limited is the registrar for the issue.The market maker for Iware Supplychain Services IPO is Smc Global Securities Ltd.
Arunaya Organics IPO
Arunaya Organics IPO will open for subscription on April 29 and close on May 2. The SME IPO is a book-building of ₹33.99 crore and is a combination of fresh issue of 52.60 lakh shares aggregating to ₹30.51 crore and offer for sale of 6 lakh shares aggregating to ₹3.48 crore.
Arunaya Organics IPO price band is set at ₹55 to ₹58 per share. Unistone Capital Pvt Ltd is the book-running lead manager of the Arunaya Organics IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for Arunaya Organics IPO is R.K.Stock Holding Private Limited.
Kenrik Industries IPO
Kenrik Industries IPO will open for subscription on April 29 and close on May 6. The SME IPO is a fixed price of ₹8.75 crore and is entirely a fresh issue of 34.98 lakh shares.
The SME IPO price band has been fixed at ₹25 per share. Turnaround Corporate Advisors Private Limited is the book-running lead manager of the Kenrik Industries IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.The market maker for Kenrik Industries IPO is Mnm Stock Broking Private Limited.
Wagons Learning IPO
Wagons Learning IPO will open for subscription on May 2 and close on May 6. The SME IPO is a book-building of ₹38.38 crore and is a combination of fresh issue of 30.80 lakh shares aggregating to ₹25.26 crore and offer for sale of 16 lakh shares aggregating to ₹13.12 crore.
Wagons Learning IPO price band is set at ₹78 to ₹82 per share. Khandwala Securities Limited is the book-running lead manager of the Wagons Learning IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Wagons Learning IPO is Rikhav Securities Limited.
New Listings –
Tankup Engineers IPO: Tankup Engineers IPO is expected to be finalized on Monday, April 28. The IPO will be list on NSE SME with a tentative listing date fixed as Wednesday, April 30.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Week Ahead: Q4 results, auto sales, India-Pak tensions, global cues among key triggers for Indian stock market
Stock market triggers: Q4 results, India-Pakistan tensions, foreign fund flow, monthly auto sales, and global cues will dictate trends this week. D-Street experts say the Nifty 50 could pick up bullish momentum if it breaks above 24,400.
The Indian stock market extended its recovery for the second consecutive week, registering nearly a one per cent gain amid a phase of consolidation. Gains were capped by profit booking amid escalating geopolitical tensions between India and Pakistan following the Pahalgam terrorist attack.
Next, investors will monitor key market triggers in the upcoming holiday-shortened week, marking the end of the new fiscal year’s first month. The next set of March quarter earnings for fiscal 2024-25 (Q4FY25), India-Pakistan geopolitical tensions, monthly auto sales, foreign capital inflows, and global cues will dictate the market direction in the coming week.
Domestic equity benchmarks Sensex and Nifty 50 rose one per cent in the last five days. The Nifty 50 and BSE Sensex advanced 0.80 per cent for the week, closing at 24,039.35 and 79,212.53, respectively. Market volatility edged higher, with the India VIX rising by 11 per cent, reversing part of the 23 per cent drop the previous week.
“The positive momentum was supported by progress in the India-US bilateral trade agreement and easing concerns over the US–China trade dispute, both of which lifted investor sentiment. Stronger-than-expected quarterly results from key banking majors contributed to the market’s upward trajectory,” said Puneet Singhania, Director at Master Trust Group.