Dalal Street Breakfast: 06 May 2024

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

Today’s Markets

• US Futures are in green 🟢 +0.11%

• Asia opens mixed: Japan Nikkei 🔴 -0.1% , China Shanghai 🟢 1.02%

• Commodities: Gold 🟢 +0.65% , Crude Oil 🟢 +0.25%

• After falling 400 points on Friday, GIFT Nifty has bounced back up by 200 points. Currently, it is trading around 22680 indicating a positive opening for Nifty.

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Key Stock Updates

New Orders & Projects:

• Paras Defence and Space Technologies receives Rs. 20 crore contract from IFFCO for drone-based agricultural spraying.

• Kernex Microsystems (India) Ltd. receives Rs. 5.77 crore order for Train Collision Avoidance System (TCAS) from Integral Coach Factory, Chennai.

Partnerships, Acquisitions & Investments:

• Craftsman Automation acquires DR Axion, strengthening passenger vehicle segment.

• Tata Power Renewable Energy signs PPA with SJVN for 460 MW project.

• Adani Energy Solutions acquires Pointleap Projects Private Limited.

• Coromandel acquires 3.13% stake in Ecozen for climate-smart solutions.

• Sun Pharma acquires Valstar and Kemipharm for Moroccan expansion.

• Amber Enterprises acquires 50% stake in Resojet Private Limited, Hyderabad.

• Firstsource acquires Quintessence, enhancing healthcare RCM solutions globally.

Business Operations:

• Dr. Reddy's Laboratories launches Doxycycline Capsules, 40 mg in the U.S.

• Sentynl Therapeutics, a Zydus Group company, acquires Zokinvy® from Eiger Biopharmaceuticals, expanding rare disease portfolio.

• Rallis establishes automated 8000 MT WSF plant in Maharashtra.

• MedPlus Health Services' subsidiary, Optival Health Solutions, faces temporary suspension orders for three stores.

• VA Tech WABAG launches BLUE SEED to support water sector startups.

Key Deals:

• Cigniti Technologies Ltd: Rajasthan Global Securities Pvt Ltd buys ₹37.45Cr

• Grasim Industries Limited: Morgan Stanley Asia Singapore Pte buys ₹38.36Cr; Mirae Asset Mutual Fund sells ₹36.02Cr

• Gravita India Limited: Abudhabi Investment Authority Monsoon (Iedpasive/Emiindia) buys ₹70.08Cr

• Yes Bank Limited: Goldman Sachs (Singapore) Pte.- Odi buys ₹895.79Cr; Ca Basque Investments sells ₹1441.64Cr

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Today’s Results Announcements

• CG Power and Industrial Solutions

• DCM Shriram

• Arvind

• Choice International

• Fusion Micro Finance

• The Bombay Dyeing Co.

• CarTrade Tech

• Arvind SmartSpaces

• Apcotex Industries

• Aeroflex Industries

• Automotive Stampings and Assemblies

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Results Coverage

Stocks that posted good results last week (April 27 to May 04, 2024)

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Today’s IPOs

Open for Bidding:

• Winsol Engineers Limited (WINSOL)

• Refractory Shapes Limited (REFRACTORY)

• Indegene Limited (INDGN)

• Slone Infosystems Limited (SLONE)

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Today’s Economic Calendar

• 10:30 - HSBC Services PMI Final (Apr)

• 10:30 - HSBC Composite PMI Final (Apr)

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Nifty Futures - Key Levels

Bullish above 22597 and Bearish below 22529. 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.