Stock Market Live update on 4th May 2022. The Nifty futures were trading higher at around 17075 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading mixed, while the US market ended higher on Tuesday.
Levels for Nifty and Banknifty for 4th May 2022
Nifty Levels for the day:
Nifty Resistance at 17150
Nifty Support at 16950
Banknifty Levels for the day:
Banknifty Resistance at 36400
Banknifty Support at 35900
Stocks in Focus today
The jewellery-to-watch major registered a 7.2 percent YoY decline in standalone profit at Rs 491 crore in the quarter ended March 2022. Revenue rose 2 percent to Rs 7,276 crore during the same period.
The company reported a consolidated net profit of Rs 9,835.12 crore in Q4FY22, up 37 percent YoY, and revenue grew by 39 percent to Rs 69,323.50 crore. The steelmaker also announced a stock split at 10:1.
The motorcycle company reported lower than estimated profit and revenue for Q4 FY22. Hero MotoCorp’s profit fell nearly 28 percent YoY to Rs 627 crore while revenue was down about 15 percent to Rs 7,421.7 crore
The power generation company posted 8 times YoY growth in consolidated profit at Rs 864.3 crore in Q4FY22. Revenue during the quarter was up 55.5 percent to Rs 2,440.7 crore compared to the corresponding period last fiscal.
The Wadia group FMCG company registered a 5 percent YoY growth in consolidated profit at Rs 378 crore for the quarter ended March 2022. Revenue from operations rose 13.4 percent to Rs 3,550.5 crore
The company’s profit soared 156 percent YoY in Q4FY22 to Rs 750 crore with revenue climbing 68 percent to Rs 6,564 crore compared to the year-ago period.
The packaged food company has acquired the Kohinoor brand from McCormick Switzerland GMBH for an undisclosed amount. The acquisition would give Adani Wilmar exclusive rights over the brand ‘Kohinoor’ basmati rice along with ‘Ready to Cook’, ‘Ready to Eat’ curries and meal portfolio in India.
Astec Life Sciences
The agrochemical active manufacturer clocked 80 percent YoY growth in profit at Rs 43 crore for the quarter ended March 2022 while revenue rose 58 percent to Rs 272 crore.
RailTel Corporation of India
The state-owned telecom infrastructure provider has received work order worth Rs 97.64 crore from Madhya Pradesh State Electronics Development Corporation. The company will act as a system integrator for the expansion of SDC and the establishment of a disaster recovery centre.
The home appliances company has executed the joint venture agreement with Hong Kong-based Highly International, a wholly-owned subsidiary of Shanghai Highly (Group) Company. The company will design, manufacture, sell and service inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts.