Stock Market Live update on 17th May 2022. The Nifty futures were trading at around 15870 levels on the Singaporean Exchange at 8:00 IST. Asian markets are trading in the green, while the US market ended higher on Monday.
Levels for Nifty and Banknifty for 17th May 2022
Nifty Levels for the day:
Nifty Resistance at 15980
Nifty Support at 15780
Banknifty Levels for the day:
Banknifty Resistance at 33820
Banknifty Support at 33000
Stocks in Focus today
Life Insurance Corporation of India
Shares of LIC will make a debut on exchanges on Tuesday, May 17.
The company’s April gross toll collections stood at Rs 327 crore versus Rs 306.66 crore in March. The gross toll collections in April last year was at Rs 196.64 crore. The firm said on April 21 the toll collection was suspended on account of farmers agitation.
Bharat Petroleum Corporation of India
A government official told CNBC-TV18 that the Government has decided to withdraw BPCL divestment in its current form, and it has been informed to the companies which had submitted Expression of Interest. It is difficult to say that fresh process will be initiated in current condition, but a fresh proposal for its stake sale will be drafted by DIPAM. The stake sale will now require fresh cabinet approval.
The company’s net profit stood at Rs 264.97 crore for the fourth quarter ended March 31. Revenue was up 43.4 percent at Rs 1,958.1 crore. Its operating margin expanded to 14.52 percent as compared to 11.34 percent on-year.
The company’s consolidated net loss from continuing operations for the fourth quarter of FY21 came in at Rs 55 crore. The drug firm had reported a net profit of Rs 4 crore for the January-March quarter of the 2020-21 fiscal. Revenue from operations rose to Rs 810 crore from Rs 744 crore in the year-ago period.
The company reported a profit of Rs 12 crore in the March quarter from a loss of Rs 4 crore a year ago. Revenue for the quarter stood at Rs 356 crore versus Rs 243 crore last year.
Aditya Birla Capital
The company has received whistleblower complaint where allegations were made against Aditya Birla Sun Life and employees. The firm said an independent committee investigating the complaint did not find any merit in any allegations.
The company has won orders worth Rs 1,150 crore across its various businesses.
An agreement for development of 490 MW Arun-4 project in Nepal has been signed in Lumbini, Nepal. The Project will be developed in a Joint Venture by SJVN and Nepal Electricity Authority with the company having majority share and is expected to generate around 2100 Million Units of energy per annum. The expected cost of this project is Rs 4,900 crore.
The airline got DGCA communications on handling of special child at Ranchi Airport. DGCA prima facie found Indigo’s handling of special child at Ranchi Airport inappropriate. DGCA will issue a show cause notice to Indigo to explain. The aviation company said it will respond to the matter in due course.