Stocks to watch today: Tata Motors, Tech Mahindra, Axis Bank, Dr Reddy's, L&T, Cyient

Stocks to watch today: Indian equity benchmarks Nifty 50 and Sensex ended flat on Tuesday (July 25) amid selling in heavyweights Asian Paints, ITC, and L&T. The NSE Nifty 50 ended the day up 8.25 points at 19,680.6, while the S&P BSE Sensex closed at 66,355.71, down 29.07 points. 

Hindalco Industries, Tata Steel, JSW Steel, UltraTech Cement, and NTPC were among the top gainers on the Nifty, while Asian Paints, Britannia Industries, ITC, Larsen and Toubro, and IndusInd Bank were among the top losers.

Investors are also eyeing the Fed's rate outcome, which will be announced tomorrow (Wednesday) in the evening.

The Fed paused rates in its last announcement in June but gave an indication to raise it twice in this calendar year.

At around 8:45 AM on Wednesday, July 26, the Gift Nifty traded 20.5 points higher, or 0.10 per cent at 19,712.5; this indicates a positive start for the market.

Here's a list of stocks that may trade actively in Wednesday's session:

Results today, July 26 

Axis Bank, Bajaj Finance, Cipla, Dr. Reddy’s Laboratories, Tata Consumer Products, Tech Mahindra, BPCL, REC, Shree Cement, Syngene International, Oracle Financial Services Software, Colgate Palmolive and Punjab National Bank will announce their June quarter numbers today. 

Tata Motors

Tata Motors beat Zee Business Research estimates as it reported a consolidated net profit of Rs 3,202.8 crore for the quarter ended June 2023 in its first quarter.

The company's revenue also soared to Rs 1,01,528.5 crore for the three-month period, as against Rs 71,227.8 crore for the corresponding period last year, according to a regulatory filing.

Tata Motors has also appointed Rajesh Kannan as President and CDIO of the company.

The shares of the company were in rude health as they jumped 1.99 per cent to Rs 641.80 on the BSE on Tuesday.

Axis Bank

The lender is set to announce its first-quarter results on Wednesday.

On the eve of the results, Zee Biz Research estimated Axis Bank to report a standalone net profit of Rs 5,840 crore for the April-June quarter, which is an increase of 41.6 per cent compared to the corresponding period last year.

The analysts predict that the company's net interest income can grow by 27.9 per cent to Rs 12,000 crore YoY.

The company's share price on Tuesday ended 0.90 per cent down to Rs 962.85 at market close.  

Dr Reddy's Lab

Dr Reddy's Laboratories, India's third-largest drug maker by market capitalisation, is set to announce its results for the April-June period on Wednesday, July 26.

As per Zee Business Research, it is estimated to report a consolidated net profit of Rs 1,036 crore for the first quarter.

The company's revenue can jump 22.9 per cent to Rs 6,432 crore YoY for the first quarter of FY23-24. The company's share price ended the day (Tuesday) up 0.64 per cent to Rs 5,426.30.

Larsen & Toubro 

Larsen & Toubro (L&T) announced its first-quarter results on Tuesday, reporting a 46.4 per cent year-on-year (YoY) jump in its net profit at Rs 2,493 crore.

Revenue from operations came in at Rs 47,882 crore, up 34 per cent YoY.

The L & T board declared a special dividend of Rs 6 per share, while it also announced that its board had approved a share buyback of Rs 10,000 crore. 

The company's announced its result after the market close, but its share traded 1.67 per cent down to Rs 2561.95 on Tuesday. 

Tech Mahindra

The automaker will also announce its first-quarter results on Wednesday.

Zee Business Research is expecting the company to post marginally weak results due to a weakness in the Communication, Media and Entertainment (CME) vertical.

Tech Mahindra's profit after tax (PAT) is expected to decline 1.6 per cent to Rs 1,100 crore, while the company's revenue can also go down to Rs 13,450 crore against Rs 13,718 crore quarter-on-quarter (QoQ).

The company's share traded down 0.49 per cent to Rs 1,156.00 at market close on Tuesday.

Federal Bank 

Private sector lender Federal Bank on Tuesday said it has raised Rs 3,099 crore through a qualified institutional placement route to fund business growth. The board approved the allotment of 23.04 crore shares will be listed today. 

REC

The company's board will consider raising funds from private placement along with the results in the board meeting today. 

Delta Corp 

Delta Corp Limited reported a profit after tax (PAT) at Rs 68 crore on a year-on-year (YoY) basis compared to Rs 57 crore in FY2021-22, up  18.9 per cent. The revenue was up 9.2 per cent at Rs 273 crore in FY23 compared to Rs 250.3 crore in FY22. While the EBIDTA was up 10.3 percent at Rs 96 crore.

Alicon Castalloy

Alicon Castalloy reported a profit after tax (PAT) at Rs 9.5 crore on a year-on-year (YoY) basis compared to Rs 10.7 crore in FY2021-22, down 11 per cent. The revenue was up 2.9 per cent at Rs 354 crore in FY23 compared to Rs 344 crore in FY22. 

CEAT 

CEAT reported a profit after tax (PAT) at Rs 145 crore on a year-on-year (YoY) basis compared to Rs 9 crore in FY2021-22, up 16.1 times. The revenue was up 4.2 per cent at Rs 2,935 crore in FY23 compared to Rs  2,818 crore in FY22. 

Cyient

IT solutions provider Cyient on Tuesday posted a 46 per cent year-on-year rise in consolidated net profit to Rs 169 crore in the June quarter. The net profit rose from about Rs 116 crore in the year-ago period, the company said in a BSE filing.

Man Infraconstruction Ltd 

Man Infraconstruction Ltd reported a profit after tax (PAT) at Rs 87 crore on a year-on-year (YoY) basis compared to Rs 44 crore in FY2021-22, up 97.72 per cent. The revenue was up 44.88 per cent at Rs 510 crore in FY23 compared to Rs 352 crore in FY22. 

Ajmera Realty & Infra India

Ajmera Realty & Infra India reported a profit after tax (PAT) at Rs 21 crore on a year-on-year (YoY) basis compared to Rs 11.6 crore in FY2021-22, up 81 per cent. The revenue was up 2.2 times at Rs 116 crore in FY23 compared to Rs 52.3 crore in FY22. 

Triveni Engineering & Industries 

Triveni Engineering & Industries reported a profit after tax (PAT) at Rs 68 crore on a year-on-year (YoY) basis compared to Rs 67 crore in FY2021-22, up 1.5 per cent. The revenue was up 5.2 per cent at Rs 1,432 crore in FY23 compared to Rs 1,361 crore in FY22. 

UTI Asset Management Company

UTI Asset Management Company reported a profit after tax (PAT) at Rs 234.41 crore on a year-on-year (YoY) basis compared to Rs 91.51 crore in FY2021-22, up 156.2 per cent. The revenue was up 59.6 per cent at Rs 467.77 crore in FY23 compared to Rs 293.09 crore in FY22.

Can Fin Homes

Can Fin Homes Ltd on Tuesday said employees at one of its branches had committed fraud of nearly Rs 38.53 crore ($4.7 million) by transferring funds to different personal bank accounts.

Transformers and Rectifiers India 

Gujarat Energy Transmission Corporation Limited (GETCO had alleged lapses in the inspection of transformers in the company. The company is conducting an internal investigation into the matter and has suspended two people.

Bombay Burmah and Airline stocks 

Bombay Burmah which owns a stake in Go First will be in focus as Go First made a trial run in Mumbai after announcing it was grounded in May. the airlines will fly soon as per the order of the Delhi High Court and NCLAT. 

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