Tata Elxsi, Bandhan Bank, PNB, NTPC, Power Grid, and Jet Airways among top stocks that may remain in focus today

Stocks to watch today: The Nifty50 is expected to open in the green on May 19, Friday. At 08:23 AM, the Nifty futures on the Singapore Exchange (SGX) traded 0.18 per cent higher at 18,211 levels. In the overnight trade, US stocks rallied and the dollar reached a seven-week peak as discount retail giant Walmart Inc raised its sales outlook and strong economic data calmed recession fears while also dampening hopes the Federal Reserve would cut interest rates before year-end. In Asia, Japan's Nikkei clocked a nearly 33-year peak, Reuters reported. 

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

Earnings today: A slew of companies are slated to release their March quarter numbers today. The list includes names such as Bandhan Bank, PNB, Muthoot Finance, Minda Corp, and Power Grid, among others.

Wipro on Thursday, announced a five-year business partnership with ServiceNow to invest in and bring new offerings to market that will empower clients to drive business transformation, overcome business challenges, and deliver greater value. The agreement expands on the two companies existing partnership and is expected to help accelerate Wipro’s goal of building a $1 billion business with ServiceNow by the end of 2026, the company said in its earnings release.

United Spirits posted a consolidated net profit of Rs 204 crore for the March quarter, up 7.36 per cent from Rs 190 crore, a year ago. The company’s consolidated revenue from operation fell 25.20 per cent to Rs 5,783 crore for the March quarter as compared to Rs 7,732 crore in the year-ago period.

Bata India: The footwear maker on Tuesday reported a 4.5 per cent increase in consolidated net profit to Rs 65.5 crore for the quarter ended March 2023. Its revenue from operations came in at Rs 778.6 crore for the three-month period compared with the year-ago quarter, according to a regulatory filing. Bata India's total income rose 15.7 per cent on a year-on-year basis to Rs 791.2 crore.

ITC: The diversified conglomerate on May 18, 2023, reported a standalone net profit of Rs 5,090 crore for the quarter ended March 2023. The profit was better than estimates as Zee Business Research had projected it to rise 16 per cent YoY to Rs 4,850 crore against Rs 4,191 crore reported in the year-ago period. The company also announced a final dividend of Rs 6.75 and a Special Dividend of Rs 2.75 per ordinary share of Re 1 each for the financial year ended March 31, 2023

SBI: The country's largest bank SBI on Thursday reported an 83 per cent jump in net profit at Rs 16,694.51 crore for the fourth quarter of the 2022-23 fiscal on higher interest income and low provisioning. In the January-March quarter of the 2021-22 financial year, the lender's net profit on a standalone basis was Rs 9,113.53 crore. During the March quarter of 2022-23 fiscal, the bank's interest income rose 31 per cent to Rs 92,951 crore, SBI said in a regulatory filing.

IndiGo: Interglobe Aviation — the owner and operator of airline IndiGo — on Thursday reported a net profit of Rs 919.2 crore for the quarter ended March 2023, marking a sequential fall of 35.4 per cent but better than analysts' estimates. It was IndiGo's highest profit ever in a March quarter. 

Jet Airways on Thursday, reported a consolidated loss of Rs 54.94 crore for the March quarter. The company reported a net loss of Rs 234 crore a year ago. Its consolidated net revenue from operation rose by 12.45 per cent to Rs 12.37 crore for the March quarter as compared to Rs 11 crore in the year-ago period.

Tata Elxsi Ltd, on Thursday, posted a consolidated net profit of Rs 202 crore for the March 2023 quarter against Rs 160 crore a year ago, the company statement said. The company’s consolidated revenue from operation rose by 22.87 per cent YoY to Rs 838 crore.