Stock Market Live update on 11th May 2022. The Nifty futures were trading higher at around 16200 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading mixed, while the US market ended lower on Tuesday.
Levels for Nifty and Banknifty for 11th May 2022
Nifty Levels for the day:
Nifty Resistance at 16350
Nifty Support at 16000
Banknifty Levels for the day:
Banknifty Resistance at 34500
Banknifty Support at 33500
Stocks in Focus today
State Bank of India
SBI’s board of directors has approved raising up to $2 billion in FY23.
The pharmaceutical company reported a 10 percent YoY fall in consolidated profit at Rs 370.7 crore in the quarter ended March 2022 while revenue rose 14 percent to Rs 5,260.33 crore compared to the year-ago period.
The company posted a consolidated loss of Rs 487.4 crore in the fourth quarter ended March 2022 against a profit of Rs 398 crore in the same period last year. Revenue from operations surged 21 percent year-on-year (YoY) to Rs 3,744 crore.
The telecom operator posted a consolidated loss of Rs 6,563.1 crore in the quarter ended March 2022. Revenue came in at Rs 10,239.50 crore, up 5.4 percent quarter-on-quarter (QoQ).
The company clocked a near 28 percent YoY growth in consolidated profit at Rs 444.4 crore in the quarter ended March 2022. Revenue rose 36.5 percent to Rs 4,773.4 crore during the same period.
The gas company’s profit for the fourth quarter ended March 2022 came in at Rs 131.8 crore, higher than the estimate. Meanwhile, revenue for the reporting quarter missed expectations at Rs 1,086.8 crore.
The company reported a 62 percent YoY fall in consolidated profit at Rs 51.25 crore in the quarter ended March 2022. However, revenue was up 4 percent at Rs 2,227 crore.
Jammu & Kashmir Bank
The Central Bureau of Investigation (CBI) on Tuesday conducted searches at multiple locations in Mumbai, Delhi, Jammu and Srinagar – including residences of former bank chairman Haseeb Drabu – in connection with the Bank buying 65,000 sq ft office space in Mumbai in 2010.
Sachin Zute has been appointed as the company’s Chief Financial Officer. The company has also reappointed Harsh Mariwala as Independent Director.
The IT company has extended its strategic agreement with Crédit Agricole CIB, the corporate and investment bank division of Crédit Agricole Group, to support its IT infrastructure transformation.