Stock Market Live update on 22nd March 2022. The Nifty futures were trading higher around 17,160 level on the Singaporean Exchange at 8:00 IST. Asian markets are trading mixed, while the US market ended lower on Monday.
Levels for Nifty and Banknifty for 22nd March 2022
Nifty Levels for the day:
Nifty Resistance at 17200
Nifty Support at 17000
Banknifty Levels for the day:
Banknifty Resistance at 36300
Banknifty Support at 35800
Stocks in Focus today
Wipro
The technology company will consider an interim dividend on March 25.
Sun Pharmaceutical Industries
The company will acquire an 11.28 percent stake in Zenotech Laboratories for Rs 5.32 crore.
Equitas Small Finance Bank
The board has approved a Scheme of Amalgamation between Equitas Holdings and Equitas Small Finance Bank.
Larsen & Toubro
The board on March 24 will seek approval for raising funds including through the issue of debt securities as part of the company’s refinancing program.
Zomato
The company has announced that it will soon launch a 10-min food delivery offering – Zomato Instant. It will pilot Zomato Instant with four stations in Gurugram from next month.
Shankara Building Products & APL Apollo Tubes
APL Apollo Tubes announced a minority equity investment by its subsidiary APL Apollo Mart in Shankara Building Products. The investment will be through a combination of purchase of secondary promoter shares and proposed preferential allotment of convertible warrants. Total investment by APL Apollo Mart in Shankara Building Products will be up to Rs 180.5 crore including an immediate investment of Rs 101.8 crore.
Godawari Power & Ispat
The company has signed an agreement with Hira infra-Tek (HITL) to acquire 44,54,621 equity shares of Hira Ferro Alloys (HFAL) from HITL at a price of Rs 224 per share. With this, the company’s stake in HFAL will be increased to 75.66 percent from 56.45 percent.
REC
The company approved the market borrowing program of Rs 85,000 crore under different debt segments for the financial year 2022-23.
Deepak Nitrite
ICRA has upgraded the long-term rating from ‘AA-‘ to ‘AA’, and re-affirmed the short-term rating at ‘A1+’ for Rs 756.27 crore bank facilities of Deepak Phenolics, a wholly-owned subsidiary of the company. The outlook on the long-term rating has been revised to Positive from Stable.
NHPC
Life Insurance Corporation of India sold a 2.03 percent stake in the company through open market transactions. With this, LIC’s stake in the power generation company stands at 7.23 percent, down from 9.26 percent earlier.