Stock Market Live update on 6th April 2022. The Nifty futures were trading higher around 17,860 level on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the red, while the US market ended lower on Tuesday.
Levels for Nifty and Banknifty for 6th April 2022
Nifty Levels for the day:
Nifty Resistance at 17950
Nifty Support at 17600
Banknifty Levels for the day:
Banknifty Resistance at 38000
Banknifty Support at 37200
Stocks in Focus today
The company will consider raising funds on Friday, April 8.
Tata Steel India achieved highest-ever annual crude steel production of 19.06 million tons, with a growth of 13 percent YoY. Tata Steel India deliveries increased by 6 percent YoY in FY22, surpassing the previous best recorded in FY21. Tata Steel Europe steel production in FY22 grew by 6 percent YoY and total deliveries increased by 2 percent YoY, driven by broad-based improvement in most steel consuming sectors.
Tata Consultancy Services
Kansas Department of Labour has selected TCS to build a modern, secure, web-based system for the state’s unemployment insurance program. This will help transform a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents.
The lender’s advances as of March 31 rose 16 percent YoY while total deposits gained 24 percent YoY. CASA deposits were up 18 percent YoY.
Ruchi Soya Industries
The company’s board of directors has approved the allotment of 6.61 crore equity shares worth Rs 4,300 crore.
The FMCG company said revenue growth in Q4FY22 was in the low single digits, while volumes were marginally positive on an exceptionally high base (25 percent), leading to double-digit volume growth on a 2-year CAGR basis. Consolidated revenue growth in the quarter touched high-single digits.
A lower allocation of raw petroleum coke by the Directorate General of Foreign Trade for FY23 than in the previous years, the lack of sufficient raw materials has now reached a level necessitating that subsidiary RAIN shuts down one Kiln, until further notice. Subsidiary Rain CM Carbon (Vizag) (RAIN) is facing an RPC shortfall to the tune of 40 percent. Apart from calcined petroleum coke, the shutdown of RAIN’s Kiln will also result in a net loss of 20 MW of waste-heat power generation to the grid.
Tata Steel Long Products
Its crude steel production grew by 6 percent YoY in FY22, despite the disruption caused by the COVID 2nd wave and shutdown of one of the blast furnaces for few weeks during Q4FY22. Steel sales volumes have increased by 2 percent YoY in FY22, with a higher share of rolled product sales enabled by customer approval and continued mix enrichment.
TVS Motor Company
The company and Jio-bp have agreed to explore the creation of a robust public electric vehicle (EV) charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space. Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles.
Tata Power Company
Resurgent Power Ventures, co-sponsored by Tata Power and ICICI Bank and has other global reputed investors, has completed acquisition of NRSS XXXVI Transmission, a special purpose vehicle to establish and operate transmission system in the Northern Region along with LILO of SikarNeemrana 400kV D/C line at Babaion on build-own-operate-maintain basis. Resurgent Power Ventures was set up to acquire stressed assets in the Indian Power Sector.