Stock Market Live update on 10th May 2022. The Nifty futures were trading higher at around 16200 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the red, while the US market ended lower on Monday.
Levels for Nifty and Banknifty for 10th May 2022
Nifty Levels for the day:
Nifty Resistance at 16400
Nifty Support at 16100
Banknifty Levels for the day:
Banknifty Resistance at 34600
Banknifty Support at 34000
Stocks in Focus today
Rainbow Children’s Medicare
The company will make its debut on the bourses today. The issue price has been fixed at Rs 542 per share.
VST Tillers and Tractors
The company registered a 71 percent YoY growth in profit at Rs 22.1 crore in the quarter ended March 2022 while its revenue went up 12 percent at Rs 218.4 crore during the period.
The company recorded a 45.3 percent YoY growth in consolidated profit at Rs 108.2 crore in the quarter ended March 2022 while revenue during the period grew 22 percent to Rs 821 crore. The firm announced the issue of bonus equity shares in the proportion of one equity share for every two existing equity shares held by the shareholders as of the record date
The IT company announced a partnership with Syniti and will adopt the Syniti Knowledge Platform (SKP) as its strategic data migration platform to provide customers with improved data management strategies and higher quality data. The acquisition will happen in an all-cash deal and is expected to close before July 31, 2022.
The company clocked a 35 percent YoY growth in consolidated profit at Rs 116 crore in the quarter ended March 2022 and revenue during the quarter rose 44 percent to Rs 1,792 crore.
The company’s profit for Q4 FY22 fell 6 percent YoY to Rs 600 crore but revenue was up 7 percent at Rs 3,380 crore.
The wagon manufacturer is reportedly planning a post-pandemic turnaround that involves growing revenue three times over the next three years and targeting new markets in Africa, West Asia, South East Asia, Australia and the US with its made-in-India freight wagons and transit trains.
Gujarat Narmada Valley Fertilizers & Chemicals
The company more than doubled its consolidated profit to Rs 643 crore in Q4FY22, up from Rs 310.5 crore in the same period last year. Meanwhile, revenue jumped 60 percent to Rs 2,772 crore compared to the year-ago period.
The company’s consolidated net profit for Q4 FY22 soared 120.6 percent YoY to Rs 140 crore. Revenue rose 42 percent to Rs 2,081 crore compared to the year-ago period.