Stock Market Live update on 7th April 2022. The Nifty futures were trading higher around 17,770 level on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the red, while the US market ended lower on Wednesday.
Levels for Nifty and Banknifty for 7th April 2022
Nifty Levels for the day:
Nifty Resistance at 17900
Nifty Support at 17650
Banknifty Levels for the day:
Banknifty Resistance at 37860
Banknifty Support at 37100
Stocks in Focus today
The company will make its debut on the bourses today.
The lender’s board of directors will consider raising up to Rs 50,000 crore through bonds on April 16.
Motherson Sumi Systems
The company has completed the acquisition of a 55 percent stake in CIM Tools, one of the leading suppliers in the aerospace supply chain based in Bengaluru.
The company’s jewellery business in Q4FY22 declined by 4 percent YoY, with the addition of 16 stores during the quarter, but the watches & wearables business registered 12 percent growth YoY with the addition of 34 stores. Its Eyecare segment reported 5 percent growth YoY with the addition of 51 stores during the quarter.
Coffee Day Enterprises
The company has defaulted on Rs 479.68 crore repayment of loans and unlisted debt securities in the quarter ended March 31, 2022. The company said that the delay in debt servicing is due to Liquidity Crisis.
Zee Entertainment Enterprises
Invesco Developing Market Funds will launch a block deal to sell a 7.8 percent stake in the company on April 7 but will continue to hold the remaining 11 percent stake. Invesco reaffirmed the belief that the Zee-Sony deal has great potential.
IDFC and a consortium comprising Bandhan Financial Holdings, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company, from IDFC, for Rs 4,500 crore. The company has declared an interim dividend of Re 1 per equity share.
Godrej Consumer Products
In India, the company expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. In Godrej Africa, USA and the Middle East, it continued growth momentum across most of the key countries of operations and expects to deliver a constant currency sales growth close to the mid-teens.
Murali Natrajan has been reappointed as Managing Director & CEO for 2 more years from April 29 to April 28, 2024
Asian Granito India
The company’s Rights issue worth Rs 441 crore will open for eligible shareholders on April 25. The company has fixed April 12 as the record date for the purpose of determining the equity shareholders eligible to receive the rights entitlement in the rights issue. The Rights Entitlement Ratio is 37:30. The company will offer 7 crore equity shares through this Rights issue.