What happened last week?
Nifty started positively last week but closed the week much lower at 22530. Nifty fell by 1.86% erasing the previous week’s gains.
Most Sectors were down except PSU Banks. IT sector tanked 4.35% bringing down the Nifty.
Most Global markets ended in the red. US Dow Jones has dropped to 38600 after it made an all-time high of 40000 a couple of weeks back.
Let us look at India-Specific developments.
The Indian GDP expanded by 7.8% (GDP YoY). India is now the world’s fastest-growing major economy, led by the sharp acceleration of manufacturing output (8.9% vs 0.9% in FYQ4 of 2023).
India Elections have reached Phase 7 and the results will be announced on June 04.
Q4 FY24 Results season is also coming to an end. Here is the list of stocks that posted good results last week.
Let us now dive deeper into FII DII Data.
FII DII Positions Analysis
FIIs sold ₹7754 Cr and DIIs bought ₹14935 Cr in the cash market last week.
FIIs carry significant shorts on the Index going into the election results week.
FIIs have added longs in Stock Derivatives. So, we can look for some stock-specific action.
DIIs maintain their Index hedges. They also continue to buy in the cash market on dips.
Nifty Analysis
Both Price and Max Pain headed lower last week. Nifty is back to 22500. We need to wait for the next directional move in Price and Max Pain and move along with it.
Stocks Coverage
Key Stock Announcements Last week
New Orders & Projects:
Excel Industries secures an INR 50-70 crore deal with a multinational corporation.
Goldiam International announces new export orders worth Rs. 20 crores.
Axiscades' subsidiary Mistral secures ₹90 crore order from BEL.
JNK India gets IOCL order for the Barauni Refinery Incinerator Package.
Power Mech Projects gets INR 563.23 crore BHEL contract for construction.
Trident Techlabs received INR 40.52 crore domestic work orders from DRDO.
RVNL received an INR 38.10 crore order from South East Central Railway.
Subex secures European telecom USD 1.1 mn deal for AI Fraud Management solution.
Partnerships, Acquisitions & Investments:
Amber Enterprises acquires a 20.22% stake in Ever Electronics for INR 68.63 crore.
IB Real Estate acquired projects from Fama Real Estate Limited.
Dr Reddy's Laboratories invested INR 649.99 crore in Aurigene Oncology.
Lumax Industries invested Rs. 2.92 Crores in Clean Max Nabia and Huoban Energy.
Macrotech Developers acquired a 50% stake in Siddhivinayak Realties for INR 415.59 crore.
Aster DM Healthcare expands Aster CMI Hospital, Bengaluru with INR 250 crore.
Honasa Consumer Ltd. acquires CosmoGenesis Labs, enhancing R&D capabilities.
Veranda Learning acquires TEIPL and ties up with Cambridge University Press.
Happiest Minds wholly owns PureSoftware after the acquisition.
IndiaMART invested INR 89.69 crore in IDfy, acquiring a 10% minority stake.
Ramco Systems partners with Ramssol Group for Southeast Asia expansion.
Kewal Kiran Clothing Limited acquires a 50% stake in Kraus Casuals.
Tube Investments of India acquires 89.46% stake in IPLTech Electric.
KIMS Hospitals to establish 350-bed Super Specialty Hospital in Bengaluru in collaboration with PES.
Nahar Industrial will develop a strategic logistics park for INR 105 crore.
TBO Tek invests INR 100 crore in Tek Travels DMCC, a Dubai-based travel technology firm.
HDFC Bank's subsidiary acquires 8.5% shares of Truboard Technologies.
Business Operations:
SOM Distilleries gains approval to supply beer brands in Telangana.
Radico Khaitan announces the sale of 1 million Morpheus Brandy cases.
Yatra launches AI-driven expense tool for streamlined corporate management.
Prakash Pipes Limited commissions 3rd extrusion coating lamination line.
Hero MotoCorp launches Splendor+ XTEC 2.0, with premium features.
Key Upcoming Events
Monday, June 3
India Automobile Sales Data
India Manufacturing PMI Data
Tuesday, June 4
India Election Results
US Job Openings Data
Wednesday, June 5
India Services PMI
Thursday, June 6
ECB Interest Rate Decision
US Jobless Claims Data
Friday, June 7
India RBI Interest Rate Decision
US Unemployment Rate
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