Stocks to watch today, April 12, 2023: BHEL, Titagarh Wagons, TCS, Sula Vineyards, HDFC Bank

Stocks to watch today: The domestic equity market is expected to open flat on April 12, 2023. At 08:28 am, the Nifty futures on the Singapore Exchange (SGX) traded 0.07 per cent higher at 17,799 levels. Asian stock markets were holding firm in the early trade - the MSCI Asia ex-Japan index rose 0.6 per cent, its third consecutive increase and its best performance this month, as per a report by Reuters. 

In the overnight trade, Wall Street stocks ended mixed, losing steam late in the session as investors awaited crucial inflation data and the unofficial kick-off of the first-quarter reporting season. Back home, the S&P BSE Sensex ended at 60,157.72, up 311 points or 0.52 per cent while the Nifty50 rose 98.25 points or 0.56 per cent to 17,722.30 levels. 

Let's take a look at some of the stocks that may remain in focus today - 

TCS: The IT bellwether is slated to release its March quarter results (Q4FY23) later in the day. The IT services companies are expected to post a muted performance for the March quarter due to increased macro uncertainty. Analysts at IDBI Capital expect QoQ revenue growth of 1 per cent in CC terms and a cross-currency tailwind of 98 bps. "Easing of supply-side challenges to aid margin expansion. We forecast 73 bps improvement in margins to 25.3 per cent," the brokerage wrote. Commentary on clients' tech budgets and the strategy of the new CEO will be keenly watched. 

BHEL, Titagarh Wagons: The consortium of Bharat Heavy Electricals Limited and Titagarh Wagons Limited (BHEL-TWL Consortium) has been awarded an order for 80 numbers of Vande Bharat trainsets in a tender of Indian Railways.

Sanofi India: The drug firm on Tuesday said the company will reduce the price of its insulin glargine brand Lantus by 21 per cent.

Delta Corp: The Mumbai-based company on Tuesday reported a net profit of Rs  51.2 crore for the January-March period, marking an increase of 6.4 per cent compared with the corresponding quarter a year ago. Its revenue increased 4.1 per cent on a year-on-year basis to Rs 227 crore, according to a regulatory filing. 

IndusInd Bank: Japanese lender JICA has teamed up with Citibank to provide a USD 125 million funding line to domestic private sector lender IndusInd Bank, PTI reported.

Sula Vineyards: Leading wine producer Sula Vineyards on Tuesday said sales volume from its own brands crossed 1 million cases in FY23. Besides, sales volumes in elite & premium wines went past the 5 lakh cases mark for the first time, it said in a sales update for Q4 & FY23 submitted to the bourses. "The company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business," the company said.

HDFC Bank: The private sector lender on Tuesday it would consider raising debt of Rs 50,000 crore (about $6 billion) over the next one year.

Vedanta: As per a Bloomberg report, Anil Agarwal’s commodities major is in talks with the US-based Farallon Capital Management to raise at least $1 billion.

Canara Bank: The public sector lender has hiked the six-month and one-year Marginal Cost of Funds Based Landing Rate (MCLR) by 5 bps.

Delhivery: The stock is expected to hog the limelight today as block deals data show that Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, offloaded Rs 387.87 crore worth of shares in the company on April 11.

Paras Defence: The company's subsidiary Paras Anti-drone Technologies has signed an MoU with Spacekawa Explorations for indigenous developments and deployment of space intelligence, surveillance and reconnaissance payloads, including RF wideband software defined radio.