Dalal Street Breakfast: 23 April 2024

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

Today’s Markets

• The US Cash market ends in green. Dow 🟢 +0.67%, S&P500 🟢 +0.87%, NASDAQ 🟢 +1.11%.

• US Futures are now trading slightly lower at 🔴 -0.06%

• Europe ends in green: London FTSE 🟢 1.62%%, Paris CAC 🟢 0.22% , Frankfurt DAX 🟢 0.7%

• Asian Markets in red: Japan Nikkei 🔴 -0.01% , China Shanghai 🔴 -0.6%

• Commodities: Gold 🔴 -1.04% , Crude Oil 🔴 -0.14%

• GIFT Nifty closed around 22458 yesterday. But it has opened lower and is now trading at 22380 levels. It indicates a neutral start for Nifty.

---

Key Stock Updates

New Orders & Projects:

• Intellect Design Arena: Jordan Kuwait Bank adopts iGTB Intellect platform.

• K.P. Energy Limited secures 9MW wind power project order.

• Vikas Lifecare Limited wins an order of ₹50 crores (Agro Products)

Partnerships, Acquisitions & Investments:

• Max Healthcare increases stake in Sandhya Hydro, now owns 5.51%.

Business Operations:

• Reliance Industries Ltd (RIL) becomes the first Indian company to cross the Rs 1 lakh crore mark in annual pre-tax profit.

• IndusInd Bank announces successful execution of RBI’s programmable CBDC pilot, first in India.

• GSPL shares in a 20% lower circuit after PNGRB nearly halves HP Pipeline tariff.

Management Changes:

• Hero MotoCorp: Dr. Arun Jaura resigns, Vikram Kasbekar appointed as CTO.

• Karnataka Bank appoints Mr. Padmanaban T. A. as Head-Digital Banking Project.

• Arvind SmartSpaces Limited's CFO, Mr. Ankit Jain, resigned effective April 22, 2024.

• SRM Contractors Limited appoints Mr. Rupesh Kumar as Chief Executive Officer, effective from May 1, 2024.

Key Deals:

• Indraprastha Med Corp: Quant Small Cap Fund buys ₹13.73Cr

---

Today’s Results Announcements

• TATA Consumer Products - After Market Hours

• ICICI Prudential Life Insurance Company

• Tata Elxsi

• MCX

• Cyient DLM

• Huhtamaki India

• NELCO

---

Today’s IPOs

Open for Bidding:

• Emmforce Autotech Limited (EMMFORCE)

• JNK India Limited (JNKINDIA)

• Shivam Chemicals Limited (SHIVAMCHEM)

• Varyaa Creations Limited (VARYAA)

• Faalcon Concepts Limited (FAALCON)

Listing:

• Grill Splendour Services Limited (BIRDYS)

• Ramdevbaba Solvent Limited (RBSL)

---

Today’s Economic Calendar

• 10:30 HSBC Manufacturing PMI Flash (Apr)

• 10:30 HSBC Services PMI Flash (Apr)

• 10:30 HSBC Composite PMI Flash (Apr)

---

Nifty Futures - Key Levels

• Bullish above 22393 and Bearish below 22316. 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.