Stock Market Live update on 13th May 2022. The Nifty futures were trading at around 15990 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the green, while the US market ended lower on Thursday.
Levels for Nifty and Banknifty for 13th May 2022
Nifty Levels for the day:
Nifty Resistance at 16200
Nifty Support at 15900
Banknifty Levels for the day:
Banknifty Resistance at 34300
Banknifty Support at 33700
Stocks in Focus today
The auto major reported a consolidated net loss of Rs 1,032 crore for the fourth quarter ended March 31, 2022 as against a loss of Rs 7,605 crore last year. Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter as compared to Rs 88,627.90 crore in the year-ago period.
Larsen & Toubro
The company’s net profit surged 10 percent year-on-year (YoY) to Rs 3,620.69 crore for the fourth quarter of FY22 while revenue was also up 10 percent at Rs 52,850.67 crore.
Private sector lender RBL Bank reported a net profit of Rs 197.8 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the bank posted a net profit of Rs 75.3 crore. Gross NPA stood at 4.40 percent in the quarter against 4.84 percent in the December quarter. Net NPA came at 1.34 percent against 1.95 percent quarter-on-quarter (QoQ).
The company’s profit for the quarter ended March came in below expectation at Rs 113.4 crore while revenue was slightly higher than the estimated at Rs 5,578.3 crore.
Ujjivan Small Finance Bank
The bank reported a 7 percent YoY decline in profit at Rs 127 crore in quarter ended March 2022 while net interest income grew 48 percent to Rs 544 crore.
Cement-maker Dalmia Cement (Bharat) Ltd, a subsidiary of Dalmia Bharat Ltd, has chalked out a Rs 2,600-crore investment plan spread over the next four years to take up expansion of its existing facilities and also set up new manufacturing units in Tamil Nadu, a top official reportedly said.
The company posted a 2.5 percent YoY rise in its consolidated net profit at Rs 340 crore in the quarter ended March 2022. Revenue came in at Rs 3,628.5 crore for the reporting quarter as compared to Rs 3,354.3 crore.
Debt-ridden telecom operator Vodafone Idea expects the government to complete conversion of around Rs 16,100 crore dues into 33 percent stake in the company in the coming weeks, a top official of the Telcom reportedly said.
The company’s board of directors has given approval to buyback shares worth up to Rs 75 crore of the company, at a price of Rs 1,150 per share.