Stock Market Live update on 11th April 2022. The Nifty futures were trading higher around 17,780 level on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the red, while the US market ended higher on Friday.
Levels for Nifty and Banknifty for 11th April 2022
Nifty Levels for the day:
Nifty Resistance at 17825
Nifty Support at 17700
Banknifty Levels for the day:
Banknifty Resistance at 37880
Banknifty Support at 37600
Stocks in Focus today
Veranda Learning Solutions
The company will make its debut on the bourses today.
The company has completed the further sale of 19.50 percent of its stake in Crossword Bookstores. Accordingly, the company’s equity stake in Crossword stands reduced to 29.50 percent. In October 2021, Shoppers Stop had sold a 51 percent stake in Crossword.
The company’s profit after tax for March 2022 quarter declined 4 percent to Rs 54.5 crore and revenue fell 17.5 percent to Rs 617.3 crore compared to the year-ago period.
SMS Lifesciences India
The US FDA has completed an inspection of the company’s API manufacturing facility located at Sangareddy district, Telangana (Unit I) without any observations. The inspection commenced on April 4 and concluded on April 8.
The company has appointed Anis Chenchah as CEO for 4 regions. Chenchah will be the head for Asia, Africa, India, Middle East.
Dr Reddy’s Laboratories
The company will execute an amalgamation scheme with the promoter group on April 22.
The company along with consortium partner Posh India Offshore has entered into an agreement with Larsen & Toubro. The consortium will undertake diving-related and other associated work through the deployment of vessel “SEAMEC PRINCESS” for ONGC work of pipeline replacement project VII. The total combined value of the contract to the consortium is $101 million.
The National Company Law Tribunal has approved the Resolution Plan submitted by Tata Steel Mining, a wholly-owned subsidiary of Tata Steel, for the acquisition of Rohit Ferro-Tech.
Luxury carmaker Jaguar Land Rover continued to face the risk of global semiconductor shortage, as its retail sales fell sharply by 36 percent year-on-year to 79,008 vehicles in Q4FY22 and the sequential decline was just 1.4 percent. Jaguar brand recorded sales of 14,574 units for the March 2022 quarter, down 37.9 percent and Land Rover reported sales of 64,434 units, down 35.6 percent compared to year-ago period.