Stocks to watch: Mastek, ICICI Securities, ICICI Lombard, Tata Coffee, SBI, IT stocks, BEML Land Assets

The domestic equities are expected to see a muted start on April 19, 2023, as indicated by SGX Nifty. At 08:11 am, the Nifty futures on the Singapore Exchange (SGX) were trading 0.05 per cent lower at 17,712.5 levels. Global stocks, meanwhile, eased in the early morning trade, while the dollar was under a little pressure, as traders shifted focus from US banking stress to expectations for an imminent peak in the Federal Reserve's interest rate cycle, Reuters reported. 

In the overnight trade, the US stocks were mostly lower. The S&P 500 eked out a slim gain after strength in some big technology stocks countered disappointing quarterly reports from Johnson & Johnson and Goldman Sachs. The Dow and Nasdaq ended with fractional declines on the day. Back home, the S&P BSE Sensex slipped 184 points to 59,727.01 while the NSE's Nifty ended at 17,660.15, down 47 points. 

Let's take a look at key stocks that may remain in focus today:

Earnings today: As many as 12 companies are slated to announce their March quarter results later in the day. Some of the prominent names include Mastek, ICICI Securities, and Tata Communications.

ICICI Lombard: The company reported a 40 per cent rise in its net profit at Rs 437 crore for the fourth quarter ended March 2023. The non-life insurer had posted a net profit of Rs 313 crore in the corresponding period of 2021-22. In the March quarter, underwriting losses came at Rs 250.78 crore, down from Rs 308.98 crore a year ago. 

SBI: The public sector lender on Tuesday, post market hours, announced that it would issue senior unsecured notes to raise up to $2 billion for the fiscal year 2023-24.

BEML Land Assets: BEML, the state-run manufacturer of mining and construction equipment, is all set to list its non-core business on Wednesday. BEML Land Assets shares will be listed separately on the bourses on April 19. 

Tata Coffee: Tata Coffee on Tuesday reported a 19.66% growth in consolidated net profit during the quarter ending March 31, 2023, at Rs 48.80 crore as compared with the same period of the previous fiscal. The company's net profit stood at Rs 40.78 crore during the corresponding quarter of FY22, Tata Coffee said in a regulatory filing.

IT stocks are expected to hog the limelight today as well as Gartner has maintained FY23 global IT guidance at 5.5 per cent.

Zydus Lifesciences: The company received final approval from the US FDA to manufacture and market the Estradiol Transdermal System, used for the prevention of postmenopausal osteoporosis.

Oil refiners: The government has revised the windfall tax on domestic crude oil production. The revised tax rate is set at Rs 6,400 per tonne. The new price regime comes into effect today, April 19. 

Rattan India Enterprises has launched a direct-to-consumer fashion brands business with Neobrands.

Pidilite Industries: The company entered into an assets purchase agreement with the US-based Basic Adhesives LLC for the purchase of certain assets comprising technology, design, trademark, copyright, domain name and trade dress.

Prestige Estates Projects: The company’s wholly-owned subsidiary Prestige Exora Business Parks Limited acquired a 51% stake in commercial office space developer Dashanya Tech Parkz for a cash consideration of Rs 66.07 crore.