Stocks to watch: Tata Motors, HCL Tech, Cyient, steel firms, Mastek, NBCC

After falling for three straight days, the domestic indices are likely to see a positive start on April 20, as indicated by SGX Nifty. At 08:15 am, the Nifty futures contract on the Singapore Exchange (SGX) was trading 0.24 per cent higher at 17,696 levels.

Here's a list of the stocks that may remain in focus today:

HCL Tech: The IT services firm is slated to release its March quarter earnings today. According to Zee Business Research, HCL Tech is likely to report a net profit of Rs 3,850 crore for the final three months of the financial year gone by compared with the quarter ended March 2022, translating to a sequential decline of six per cent.

Other earnings: Apart from HCL Tech, 12 other companies are also scheduled to announce their Q4 earnings today. Some of the notable names include Cyient, RIIL, and Bodhi Tree Multimedia.

Technology stocks are expected to be on the investors' radar as the government gave a go-ahead to the National Quantum Mission last evening. The purpose is to accelerate quantum technology-led economic growth and leverage India into a leading nation in the same direction. The mission received cabinet approval at a total cost of Rs 6,003.65 crore, to scale up scientific and industrial R&D, official sources said.

JSPL, Tata Steel: Global brokerage firm CLSA, in its latest report, says that pick-up in China demand and soft coking coal prices could drive re-rating for steel companies. However, quantum will hinge on the outlook for coal prices, the brokerage added. Tata Steel and JSPL and the brokerage's top picks.

Tata Motors: Brokerage Morgan Stanley has given an overweight rating on Tata Motors with a target price of Rs 513. It says as part of EV announcements, JLR reiterated its bullish margin & FCF guidance which reflected confidence in business.

Mastek: The company's profit rose by 13.1 per cent QoQ to Rs 72.6 crore while the revenue increased by 7.7 per cent to Rs 709.2 crore. The company has announced a final dividend of Rs 12 per share.

AU Small Finance Bank on Wednesday said it has received permission from the Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023, has granted a Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, the lender said in a regulatory filing.

UltraTech Cement announced an increase in the capacity of its grinding unit at Patliputra, Bihar to 4.7 mtpa with the successful commissioning of its 2.2 mtpa brownfield expansion. This additional capacity will help the company to service the fast-growing cement demand in the East region and will also help to increase its blended cement ratio. 

Bank of Maharashtra to consider fundraising of up to Rs 7,500 cr via QIP for FY24 on April 24.

NBCC (India): The company has been awarded work orders from Public Works Department, Puducherry for providing comprehensive design, engineering and Project Management Consultancy (PMC) services for planning, designing and executing of disable accessible platforms along roads, iconic cycle tracks, remodelling sewage systems, and providing tertiary treatment plant works.

Tata Communications on Wednesday reported around an 11 per cent decline in the consolidated net profit to Rs 326.03 crore in the fourth quarter ending March 31, 2023. The company posted a profit of Rs 365.06 crore in the same period a year ago. The consolidated income from operations increased marginally to Rs 4,586.66 crore during the reported quarter from 4,263.03 crore in the March 2022 quarter.

ICICI Securities: The stock is likely to react post its Q4 numbers, which were released yesterday. The company's Q4 consolidated profit after tax stood at Rs 263 crore, which was down by 23 per cent compared to the profit logged in the year-ago period.