Dalal Street Breakfast: 24 April 2024

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

Today’s Markets

• US Cash market ends higher. Dow 🟢 +0.69%, S&P500 🟢 +1.20%, NASDAQ 🟢 +1.59%.

• US Futures are now trading higher at 🟢 +0.26%

• Europe up: London FTSE 🟢 0.26%, Paris CAC 🟢 0.81% , Frankfurt DAX 🟢 1.55%

• Asian markets trading in green: Japan Nikkei 🟢 +1.77%, China Shanghai 🟢 +0.02%

• Commodities: Gold 🔴 -0.36% , Crude Oil 🔴 -0.01%

• GIFT Nifty is trading higher above the open at 22450 indicating a positive start for Nifty.

Key Stock Updates

New Orders & Projects:

• Mastek secures contract with Yanbu Cement, strengthens Middle East presence.

• RPP Infra wins ₹412.81 crore Raipur Railway Station upgradation contract.

• Sakuma Exports secures Rs 150 Cr sugar supply deal domestically.

• Vikas Lifecare Limited's Agro Division secures ₹10 Crore nuts order.

• Kernex Microsystems awarded Rs. 8.26 Cr train collision system contract.

• Puravankara appointed for Pali Hill redevelopment; estimated GDV Rs 2,000 Cr.

Partnerships, Acquisitions & Investments:

• Tata Power Solar Systems partners with Indian Bank to promote solar rooftop adoption.

• NHPC signs agreement for partial stake sale in NHPTL.

• Adroit Infotech to acquire US ERP solutions company, enhancing North American presence.

Business Operations:

• Tata Elxsi delivers 13% revenue growth in FY24; EBITDA margin at 29.5%

• Zydus' Desidustat NDA accepted in China, treating Chronic Kidney Disease.

• Dr. Reddy's recalls Sapropterin Dihydrochloride due to sub-potency concerns.

• SBI Card introduces SBI Card MILES, catering to travel enthusiasts with exclusive benefits and rewards.

• Fire incident at SH Kelkar facility, no casualties, assessing damage.

• Lupin's Aurangabad facility receives FDA approval; VAI status achieved.

• MedPlus subsidiary faces temporary suspension by drug control authorities.

Key Deals:

• Ujjivan Fin. Servc. Ltd.: Ardisia Limited sells ₹96.4Cr

• TruCap Finance Limited: Osc Global Processing Private Limited sells ₹6.48Cr

• Orient Paper & Ind Ltd: Everdeliver Logistics Private Limited sells ₹8.98Cr

• Manappuram Finance Ltd:

  • Societe Generale buys ₹140.55Cr;

  • Marshall Wace Investment Strategies - Eureka Fund sells ₹136.19Cr

• Bank of Baroda:

  • Marshall Wace Investment Strategies - Eureka Fund sells ₹826.37Cr;

  • Societe Generale buys ₹852.84Cr

• Bandhan Bank Limited:

  • Marshall Wace Investment Strategies - Eureka Fund sells ₹212.42Cr;

  • Societe Generale buys ₹219.06Cr

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Today’s Results Announcements

• Hindustan Unilever

• Axis Bank

• LTIMindtree

• Macrotech Developers

• Indian Hotels Company

• AU Small Finance Bank

• Dalmia Bharat

• Nippon Life India Asset Management

• Chennai Petroleum Corporation

• Equitas Small Finance Bank

• Maharashtra Scooters

• MAS Financial Services

• DCB Bank

• Oracle Financial Services Software

• Tata Investment Corporation

• Syngene International

• Supreme Petrochem

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Today’s IPOs

Open for Bidding:

• Emmforce Autotech Limited (EMMFORCE)

• JNK India Limited (JNKINDIA)

• Shivam Chemicals Limited (SHIVAMCHEM)

• Varyaa Creations Limited (VARYAA)

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Nifty Futures - Key Levels

Bullish above 22384 and Bearish below 22348. 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.