Dalal Street Breakfast: 17 May 2024

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

Today’s Markets

• US Cash market ends mixed.

• US Futures are now trading flat at +0.03%.

• Europe ended lower.

• Asia opens mixed.

• GIFT Nifty is trading at 22475 indicating a flat opening for Nifty.

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Key Stock Updates

New Orders & Projects:

• GE Power India secures INR 195.93 crore contract from Torrent Power.

• GRSE accepts a Bangladesh dredger contract valued at USD 16.58 mn.

• Chaman Metallics Limited received orders for Fume Extraction Systems from IAEC (Calcutta) Pvt Ltd.

• Sadhav Shipping Limited secures a 3-year contract with ONGC Limited, worth INR 102 crore.

• ITI Limited secures INR 37.5 crore contracts for Solar Street Lights in Bihar.

• Chemplast Sanmar signs LoI for new pipeline Active Ingredient.

Partnerships, Acquisitions & Investments:

• UPL forms UPL Agricultural Product Trading FZE in Dubai, investing AED 50,000.

• JK Paper Ltd. acquires 15% equity in Horizon Packs and Securipax.

• SIHL invests INR 15 crore in the agritech platform, Gramophone.

• Jagsonpal Pharmaceuticals to acquire the India and Bhutan business of Yash Pharma for INR 92.47 crore.

• TVS SCS partners with Manchester Metropolitan for AI innovation.

• Artemis Medicare raises INR 3300 mn for healthcare expansion.

• Coforge partners with Fiorano for ISO 20022 Compliance as a Service (ICaaS).

• Mahindra & Mahindra plans Rs. 12,000 crore investment in MEAL for EV journey.

Business Operations:

• GAIL signs a 14-year charter with CoolCo for LNG carrier.

Key Deals:

• Jindal Saw Limited: Cresta Fund Ltd sells ₹108.29Cr; Nippon India Small Cap Fund buys ₹97.46Cr

• TruCap Finance Limited: Ind Swift Laboratories Limited buys ₹6.66Cr

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Today’s Results Announcements

• Astral Limited

• Balkrishna Industries

• Delhivery

• Bandhan Bank

• Amber Enterprises India Limited

• Balrampur Chini Mills

• Bharat Bijlee

• Centrum Capital

• Atul Auto

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Today’s IPOs

Open for Bidding:

• Rulka Electricals Limited (RULKA)

• Go Digit General Insurance Limited (GODIGIT)

Listing:

• None

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Today’s Economic Calendar

• 17:00 Foreign Exchange Reserves May Data

• 17:00 Deposit Growth YoY May Data

• 17:00 Bank Loan Growth YoY May Data

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Nifty Futures - Key Levels

Bullish above 22486 and Bearish below 22431. 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.