Pricol, Relaxo Footwears, L&T, Dr Reddy's, Hindalco, Eicher Motors and others that may remain in focus today

Domestic equities are likely to see a positive start on May 11, 2023. At 08:06 AM, the SGX Nifty traded 0.17 per cent higher at 18,390.5 levels. Asian stocks, too, traded with gains as investors cheered signs of easing inflationary pressure in the US after data showed consumer prices in April rose at a slower-than-expected pace. Further, China's consumer prices rose at the slowest pace in more than two years in April, suggesting more stimulus may be needed to boost a patchy post-COVID economic recovery, Reuters reported. 

Here's a look at the stocks that may remain in focus today:

Eicher Motors: The company is slated to release its March quarter results later. According to Zee Business research, Eicher Motors will likely report a 13.5 per cent increase in consolidated revenue to Rs 3,700 crore compared with the year's corresponding period. The New Delhi-based company is estimated to report Rs 880 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA), translating to growth of 16.3 per cent compared with the year-ago period. The analysts estimate its net profit at Rs 800 crore, an increase of 31.1 per cent on a year-on-year basis.

Other Q4 earnings: Apart from Eicher Motors, companies that are slated to announce their March quarter earnings today include Asian Paints, Intellect Design Arena, Medico Remedies, and Dr Lal Pathlabs, among others. 

Adani Enterprises: In its regulatory filing, the company said its board will meet on May 13 to consider fundraising. 

Hindalco: CLSA has maintained "BUY" on the stock with a target of Rs 550 post-Novelis Q4 nos. Novelis is a subsidiary of Hindalco Industries. The brokerage says Novelis 4Q is better than expected but there are near-term headwinds. 

L&T: Larsen & Toubro (L&T) on May 10, 2023, reported a 10 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 3,987 crore for the quarter ended March 31, 2023. The consolidated revenue for the quarter, too, rose 10 per cent YoY to Rs 58,335 crore. Both the top line and bottom line missed analysts' expectations. ZEE Business Research had projected L&T's consolidated revenue for the quarter under review to come in at Rs 59,311.1 crore, up 12.2 per cent year-on-year (YoY). The company's net profit was expected to rise 16 per cent YoY to Rs 4182.8 crore.

Dr Reddy's on Wednesday reported multifold growth (996 per cent) in its consolidated profit after tax to Rs 959.2 crore due to a low base during the same quarter the previous year. For the full financial year, PAT stood at Rs 4507 crore against Rs 2357 crore, a growth of 91 per cent while revenues during the last fiscal were up by 15 per cent to Rs 24, 588 crore against Rs 21439 crore in FY22.

Pricol: Pricol Ltd has reported a 126.96 per cent rise in its consolidated profit during the fourth quarter ending March 31, 2023, at Rs 29.80 crore, the company said on Wednesday. The Tamil Nadu-based automotive technology firm had registered a consolidated profit of Rs 13.13 crore in the corresponding quarter of the previous year.

Relaxo Footwears posted a 9.6 per cent jump in fourth-quarter revenue on Wednesday, as demand for its shoes and slippers remained strong despite high raw material costs.