MarketSmith and Industry Expert Raja Venkatraman Identify Five Stocks to Watch on April 24

Indian Stock Market Sees Decline Amidst Geopolitical Tensions

The Indian stock market experienced a significant downturn on Thursday, with the benchmark indices closing lower due to the rising crude oil prices above $100 per barrel. The Nifty 50 index dropped by 205 points to close at 24,173.05, marking a decrease of 0.84%. The BSE Sensex also decreased by 852.49 points to finish at 77,664.00, reflecting a decline of 1.09%.

The decline in the stock market can be attributed to the escalating geopolitical tensions and uncertainty surrounding the situation in West Asia. The Gift Nifty Live Chart is showing a muted start for the Indian stock market today, with the Gift Nifty trading around the 24,240 level, a premium of 77 points from the Nifty futures' previous close of 24,163.

Market analysts suggest that the Indian markets are likely to begin the session on a muted note, with early indications pointing toward a flat opening. The broader sentiment remains fragile, shaped largely by persistent geopolitical uncertainty. Global markets reflected this caution in the previous session, with the S&P 500 touching an intraday record high but failing to hold gains and ending lower.

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Stock analysts have recommended the following stocks for investment:

• Praj Industries Ltd (CMP ₹410.05) is a leading Indian process and project engineering company, specializing in biotechnology and engineering. The stock has been descending since last 9 months, but a strong thrust above the cloud region indicates fresh buying. The prices are holding the TS & KS, indicating a strong bullish possibility.
• Mankind Pharma Ltd (CMP ₹2,292.90) is a leading Indian multinational pharmaceutical company. The company has seen a strong surge in Open Interest, indicating a steady upward bias. The stock has a strong recovery with positive newsflow, auguring well for the prices.
• Computer Age Management Services Ltd (CAMS) (CMP ₹770.70) is India's largest technology-driven financial infrastructure and service provider. The stock has seen a nice rounding formation at lower levels and has revived subsequently after a bearish grip, indicating bullish possibilities.
• Sai Life Sciences Ltd (CMP ₹1,040) has a strong presence in the CRDMO segment and has a global pharma client base. The stock has a revenue visibility through long-term contracts, expansion in capacity and capabilities, and a focus on innovation and complex chemistry.
• Garware Hi-Tech Films Ltd (CMP ₹4,195) has a strong niche in specialty polyester films and a diversified product portfolio (CPD & IPD). The stock has a focus on value-added products improving margins, global presence with strong export share, leadership in sun control & paint protection films, and backward integration supporting cost efficiency.

The key metrics for these stocks are as follows:

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• Praj Industries Ltd: P/E Ratio 54.94, 2-week high ₹538.40, Volume 21.02M
• Mankind Pharma Ltd: P/E Ratio 55.35, 2-week high ₹2,726.75, Volume 1.06M
• Computer Age Management Services Ltd (CAMS): P/E Ratio 43.01, 2-week high ₹875, Volume 1.40M
• Sai Life Sciences Ltd: P/E Ratio 62.79, 52-week high ₹1,084.00, Volume ₹89.18 crore
• Garware Hi-Tech Films Ltd: P/E Ratio 30.58, 52-week high ₹4,782.90, Volume ₹61.81 crore