Ashok Leyland, Biocon, BPCL, Vedanta, PB Fintech and Bajaj Electricals among top stocks to watch today

The benchmark indices are likely to see a positive start on May 23, Tuesday. At 08:15 AM, the Nifty futures on the Singapore Exchange (SGX) traded 30.5 points, or 0.17 per cent higher at 18,366 levels. Besides, Wall Street shares were mixed and European stocks finished little-changed as talks in Washington resumed to avert a US default, while gold prices retreated under pressure from hawkish remarks by Federal Reserve officials.

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

BPCL: Bharat Petroleum Corporation Limited (BPCL) today (May 22) announced its fourth-quarter results, clocking a huge jump of 168.46 per cent in its consolidated net profit year on year. The company's consolidated income also jumped nearly 8 per cent from the year-ago period. READ MORE

Earnings today: Ashok Leyland, Biocon, NMDC and Galaxy Surfactants are among the top names that are slated to release their March quarter numbers later today.

Delta Corp and Nazara Tech are expected to hog the limelight today after the Central Board of Direct Taxes (CBDT) on Monday issued a new set of guidelines on online gaming platforms, stating that the platforms need not deduct tax at source (TDS) on winnings withdrawn by players if the amount is less than Rs 100 a month and meets certain riders. The CBDT said the guidelines were aimed at addressing difficulties faced by taxpayers.

Vedanta: The board of billionaire Anil Agarwal-led mining major Vedanta announced its first interim dividend of Rs 18.50 per equity share i.e. 1850 per cent payout on the face value of Re 1 per share for the Financial Year 2023-24 to its shareholders. 

Indiabulls Housing Finance Limited on Monday posted a 14 per cent decline in consolidated net profit to Rs 263 crore for the March quarter. This company had earned a net profit of Rs 307 crore in the year-ago period. Its revenue from operation fell to Rs 2,077 crore for the March quarter as compared to Rs 2,191 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.

PB Fintech, the parent company of Policybazaar, on May 22 reported a consolidated loss of Rs 8.95 crore for the March 2023 quarter against Rs 219.60 crore in the same quarter a year ago. Its revenue from operations came in at Rs 869.09 crore, up 60.85 per cent from Rs 540.29 crore in the corresponding quarter last year, the company said in an exchange filing.

Shree Cement on Friday reported a 15 per cent year-on-year (YoY) drop in net profit at Rs 546 crore for the quarter ended March 2023, compared with Rs 645 crore logged in the same quarter last year. Sales increased by 17 per cent YoY to Rs 4,785 crore.

Torrent Power: The company's board will meet on May 29 to consider raising funds by issuance of non-convertible debentures (NCDs) up to Rs 3,000 crore via a private placement basis.