Dalal Street Breakfast: 19 April 2024

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

Today’s Markets

• Explosions have occurred near the cities of Isfahan and Natanz in central Iran, both housing significant facilities for the Iranian nuclear program.

• Most markets are down in the last hour or so.

• GIFT Nifty has witnessed aggressive selling at open and is now trading around 21800. It suggests a gap-down opening for Nifty.

• US Cash market ends mixed. Dow 🟢 +0.06%, S&P500 🔴 -0.22%, NASDAQ 🔴 -0.52%.

• However, US Futures are now trading significantly lower at 🔴 -1.34%

• Europe: London FTSE 🟢 0.37%, Paris CAC 🟢 0.52% , Frankfurt DAX 🟢 0.38%

• Asia opens down: Japan Nikkei 🔴 -3.00% , China Shanghai 🔴 -0.1%

• Commodities: Gold 🟢 +1.36% , Crude Oil 🟢 +3.36%

• Infosys ADR in the US was down 2.6% post-results.

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Key Stock Updates

New Orders & Projects:

• Mastek named supplier for UK Ministry of Defence's digital services.

• Ramkrishna Forgings secures approval to supply components for USA's largest electric vehicle producer.

Partnerships, Acquisitions & Investments:

• RVNL signs MoU with Turkish Engineering Consulting for Indian transportation and infrastructure projects collaboration.

• Indus Towers partners with NTPC Green Energy for renewable projects.

• SIS Limited completes INR 7.99 crore investment in Agarsha Senior Care Private Limited.

• Sterling Tools signs MoU with Yongin Electronics for EV Components Facility, targets Rs. 250 crore revenue by FY30.

• Torrent Power Limited acquires 100% equity share capital of MSKVY Ninth Solar SPV Limited.

• Bharti Airtel and Dialog Axiata merge operations in Sri Lanka, enhancing telecom services and efficiency.

• HGS subsidiary to acquire 51% stake in Seven Star Broadband.

• ITC's subsidiary to acquire Blazeclan Technologies, enhancing cloud capabilities.

• LTIMindtree and Vodafone join forces for IoT and Industry X.0 solutions.

Business Operations:

• HUDCO granted Navratna status by Department of Public Enterprises

• Dhanuka introduces LaNevo insecticide and MYCORe Super bio-fertilizer.

• Vesuvius India Limited inaugurates new Flux plant in Visakhapatnam, plans increased investment of up to Rs 1,000 crores.

• Mahindra Lifespaces: Bengaluru's 1st Net Zero Waste + Energy homes, ₹350cr booked.

• CONCOR and PSA Mesa sign MoU for logistics collaboration. Strategic partnership aims to enhance supply chain efficiency.

Key Deals:

• GMR Power and Urban Infra: Varanium India Opportunity Ltd sells ₹18.97Cr

• Coffee Day Enterprise: Tikri Investments sells ₹25.38Cr

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Today’s Results Announcements

• Jio Financial Services

• Wipro

• Hindustan Zinc

• HDFC Asset Management Company

• Elecon Engineering Company

• KP Green Engineering

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Today’s IPOs

Open for Bidding:

• Faalcon Concepts Limited (FAALCON)

• Vodafone Idea [Follow-on] (IDEAFPO)

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Today’s Economic Calendar

• 09:00 General Elections

• 11:30 Passenger Vehicles Sales YoY (Mar)

• 17:00 Foreign Exchange Reserves Data

• 17:00 Bank Loan & Deposit Growth Data YoY

• 17:00 Monetary Policy Meeting Minutes

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Nifty Futures - Key Levels

Bullish above 22131 and Bearish below 22028. 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.