Stock Market Live update on 5th May 2022. The Nifty futures were trading higher at around 16840 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading mixed, while the US market ended higher on Wednesday.
Levels for Nifty and Banknifty for 5th May 2022
Nifty Levels for the day:
Nifty Resistance at 16900
Nifty Support at 16680
Banknifty Levels for the day:
Banknifty Resistance at 35900
Banknifty Support at 35200
Stocks in Focus today
Tata Consumer Products
The company clocked 304 percent YoY growth in consolidated profit at Rs 217.54 crore in the quarter ended March 2022. Revenue grew 4.5 percent YoY to Rs 3,175.4 crore during the quarter. Additionally, Sivakumar Sivasankaran has been appointed as Chief Financial Officer, India and as key managerial personnel of the company, in place of John Jacob, who is retiring from the services of the company.
Adani Total Gas
The Adani Group company reported a 44 percent YoY decline in consolidated profit at Rs 81 crore in the quarter ended March 2022. Meanwhile, revenue rose 73 percent YoY to Rs 1,065.5 crore during the quarter.
The company’s profit jumped 145 percent YoY to Rs 370 crore. Revenue during the first quarter of 2022 grew by 21 percent to Rs 1,968 crore compared to the year-ago period
The company recorded a consolidated profit of Rs 97.4 crore for the quarter ended March 2022, down 4.7 percent compared to the year-ago period while revenue during the quarter grew by 8.3 percent YoY to Rs 2,648 crore
State Bank of India
SBI’s executive committee will meet on May 10 to consider raising upto $2 billion in single or multiple tranches for FY23
The company’s consolidated net profit for Q4 stood at Rs 2.77 billion as against a profit of Rs 2.3 billion in the year-ago period and Rs 969.6 million in the previous quarter. Meanwhile, revenue rose to Rs 44.37 billion in the fourth quarter from Rs 30.08 billion a year ago and Rs 40.3 billion sequentially.
The electrical equipment manufacturer registered a16 percent YoY growth in Q4FY22 profit at Rs 352.48 crore whereas revenue was up 33 percent at Rs 4,426.3 crore compared to the corresponding period last fiscal.
The company posted a loss of Rs 21.39 crore for the quarter ended March 2022 against a profit of Rs 15.95 crore in the corresponding period last fiscal. Revenue was up 13 percent at Rs 93.1 crore during the same period.
The company said the road project ‘four laning of Sangli- Solapur section of NH-166′ in Maharashtra on Hybrid Annuity Mode’ has been provisionally completed. The authority has issued a Provisional Completion Certificate for the said project, saying the project is fit for entry into commercial operation as of April 25, 2022.