Stock Market Live update on 22nd April 2022. The Nifty futures were trading higher at around 17,200 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the red, while the US market ended lower on Thursday.
Levels for Nifty and Banknifty for 22nd April 2022
Nifty Levels for the day:
Nifty Resistance at 17350
Nifty Support at 17050
Banknifty Levels for the day:
Banknifty Resistance at 36600
Banknifty Support at 36100
Stocks in Focus today
HCL Technologies
The IT firm reported a 226 percent YoY jump in net profit at Rs 3,593 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 1,102 crore. CNBC-TV18 Poll had predicted a profit of Rs 3,334 crore for the quarter under review. While revenue from operations for Q4 FY22 came in at Rs 22,597 crore, 15 percent higher than a year ago.
TVS Motor Company
The company announced an additional investment of 100 million pound in Norton Motorcycle, Britain’s most iconic sporting motorcycle brand.
Tata Communications
Profit in Q4FY22 grew by 23.2 percent YoY to Rs 369 crore while revenue was up 4.6 percent to Rs 4,263 crore. The board has recommended a dividend of Rs 20.7 per share for the year, as a result of the company reporting strong profitability.
ICICI Lombard General Insurance Company
The company reported 9.6 percent YoY decline in profit at Rs 312.5 crore, but net premium earned during the quarter jumped 27 percent to Rs 3,318 crore and total income grew by 33 percent to Rs 4,636 crore compared to year-ago period. Even operating profit surged 29 percent YoY to Rs 1,009.6 crore during the quarter.
L&T Technology Services
The IT company clocked 5.3 percent sequential growth in profit at Rs 262 crore on better EBIT that grew by 4.1 percent with flat margin at 18.6 percent QoQ, while revenue increased 4.1 percent to Rs 1,756.1 crore compared to previous quarter
SAIL
The company has appointed Brijendra Pratap Singh as the Executive Director.
Rallis India
The company reported a net loss of Rs 14.19 crore in Q4 FY22 as compared to profit of Rs 8.12 crore a year ago. While revenue stood at Rs 507.5 crore against Rs 471.3 crore on a YoY basis.
JSW Energy
Subsidiary JSW Neo Energy (JSWNEL) is going to set up 1,500 MW capacity of hydro pumped storage project (PSPs) – Komoram Bheem Pumped Storage Project, in Telangana. The company has entered into an agreement with the state government, for the said project.
RailTel Corporation of India
The company has received work order from National Informatics Centre Services. The work order was worth Rs 29.75 crore
Cyient
The company has reported better-than-expected numbers for the quarter ended March. It reported a profit of 154.2 crore as compared to CNBC-TV18 Poll estimate of Rs 128.5 crore. Meanwhile, revenue of Rs 1,181.2 crore was marginally higher than the expected Rs 1,175 crore.