Dalal Street Breakfast: 03 May 2024

Pre-Market Report for the Indian Stock Market with Nifty Key Levels at 8 AM

Today’s Markets

• US Cash market ends in green. Dow 🟢 +0.85%, S&P500 🟢 +0.91%, NASDAQ 🟢 +1.51%.

• US Futures are now trading higher at 🟢 +0.33%

• Europe ended mixed: London FTSE 🟢 +0.63%, Paris CAC 🔴 -0.88% , Frankfurt DAX 🔴 -0.2%

• Asia opens mixed: Japan Nikkei 🔴 -0.1% , China Shanghai 🔴 -0.26%

• Commodities: Gold 🟢 +0.09% , Crude Oil 🟢 +0.25%

• GIFT Nifty is trading 100 points higher from yesterday’s 3:30 PM close at 22890. It indicates a positive opening for Nifty.

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Key Stock Updates

New Orders & Projects:

• Wipro to implement Medicare Prescription Payment Plan with Independent Health, enhancing healthcare accessibility.

• Mazagon Dock secures $42 million contract to build three 7,500 DWT Multi-Purpose Hybrid Powered Vessels.

• Happy Forgings secures US contract for Electric SUV components worth Rs. 50 Cr. annually, diversifying revenue.

Partnerships, Acquisitions & Investments:

• L&T Technology Services and FORVIA join forces for ultra-low emissions engineering in Germany and India, enhancing automotive innovation.

• Coromandel International acquires 3.13% stake in Ecozen Solutions for Rs. 23.99 Cr.

• Coforge acquires 54% of Cigniti Technologies, enhancing industry presence.

• TVS Holdings Limited acquires 10.77% shares of Emerald Haven Life Spaces (Radial Road) Limited.

Business Operations:

• Max Estates to expand luxury residential portfolio in Gurugram.

• Thomas Cook India opens new outlets in Goregaon and Panvel, expanding Mumbai presence.

• MOIL reports best April production, 22% growth.

• Indian Energy Exchange reports April 2024 Power Market Update, including increased volumes, and record low REC prices.

Fund Raising:

• Adani Green secures $400M for solar projects from international banks.

• UGRO Capital raises INR 1,332.66 Cr from investors and family offices.

Management Changes:

• Jubilant Pharmova Limited appoints Harsher Singh as CEO of its Radiopharma Business, succeeding Pramod Yadav.

Key Deals:

• HDFC Mutual Fund acquires 11,33,893 equity shares of Cyient, representing 1% of paid-up equity, at Rs 1,800 per share, totalling Rs 204.1 crore.

• Zaggle Prepaid: Ventureast Proactive Fund Llc sells ₹67.27Cr; ICICI Prudential Mutual Fund buys ₹35Cr.

• Inox Green Energy Ser Ltd: Sixteenth Street Asian Gems Fund buys ₹57.8Cr

• TruCap Finance Limited: Ind Swift Laboratories Limited buys ₹5.56Cr

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Today’s Results Announcements

• Adani Green Energy Limited

• Britannia Industries

• Godrej Properties

• MRF

• JSW Infrastructure

• Mangalore Refinery and Petrochemicals

• Carborundum Universal

• Inox Wind

• Aptus Value Housing Finance India

• HFCL

• Firstsource Solutions

• Inox Wind Energy

• Go Fashion India

• Aarti Drugs

• Inox Green Energy Services

• Kabra Extrusion Technik

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Today’s IPOs

Open for Bidding:

• Storage Technologies & Automation Limited (STAL)

• Amkay Products Limited (AMKAY)

• Sai Swami Metals & Alloys Limited (SAI)

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Today’s Economic Calendar

• 17:00 - Foreign Exchange Reserves (Apr)

• 17:00 - Deposit Growth YoY (Apr)

• 17:00 - Bank Loan Growth YoY (Apr)

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Nifty Futures - Key Levels

Bullish above 22809 and Bearish below 22751. Please note that these levels are plotted in the Nifty Futures chart. To know how to use the key level system, please check this post.

That’s all for today.