Stock Market Live update on 29th April 2022. The Nifty futures were trading higher at around 17300 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the green, while the US market ended higher on Thursday.
Levels for Nifty and Banknifty for 29th April 2022
Nifty Levels for the day:
Nifty Resistance at 17400
Nifty Support at 17200
Banknifty Levels for the day:
Banknifty Resistance at 36900
Banknifty Support at 36200
Stocks in Focus today
Axis Bank
The private sector lender registered a 54 percent YoY growth in standalone profit at Rs 4,118 crore. Net interest income grew by 16.7 percent YoY to Rs 8,819 crore with credit growth of 15 percent and deposits growth of 19 percent for March 2022 quarter.
Biocon
The company reported a higher-than-estimated net profit at Rs 284 crore in Q4 FY22 while revenue came in at Rs 2,409 crore which was also slightly above CNBC-TV18 Poll estimate
Vedanta
Vedanta posted a 4.8 percent YoY decline in net profit at Rs 7,261 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 7,629 crore. The company achieved the highest ever consolidated EBITDA of Rs 13,768 crore in 4QFY22. This is a 51 percent YoY and 26 percent QoQ growth while EBITDA margin stood robust at 39 percent.
Fineotex Chemical
Profit after tax of the group has increased by 42 percent YoY to Rs 17 crore on strong topline and operating income. Revenue rose by 62 percent YoY to Rs 121.4 crore in the quarter ended March 2022, and operating EBITDA surged 67 percent to Rs 21.52 crore in the same period.
Ambuja Cements
Ambuja Cements reported a standalone net profit of Rs 495.2 crore for the first quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 664.6 crore. Net sales during the quarter increased to Rs 3,855 crore compared to Rs 3,579 crore in the corresponding quarter of the previous year.
Tata Power Company
The company has collaborated with National Real Estate Development Council to install 5,000 electric vehicle charging points across Maharashtra.
Jindal Poly Films
The company’s subsidiary will acquire a 100 percent stake in SMI Coated Products which is engaged in the manufacturing of pressure-sensitive label stocks.
Sterlite Technologies
The company’s board has approved the raising of funds up to Rs 1,000 crore.
IIFL Finance
The company clocked nearly 30 percent YoY growth in consolidated profit at Rs 321 crore on healthy growth in topline and operating profit. Revenue from operations during the quarter grew by 16 percent to Rs 1,856.2 crore compared to the year-ago period.