Stocks to Watch: ACC, Mastek, PCBL, L&T Infotech, NBFCs, Sugar

Stocks to watch today: Shares of brokerage firms Angel One and ICICI Securities are also likely to be in focus ahead of the corporate earnings on Wednesday.

The heavy sell-off in late trades on Tuesday may prompt the key benchmark indices start on a nervous note. Investor sentiment seems to be hit with markets sliding in the last five straight trading sessions. As of 07:20 AM, the SGX Nifty April futures quoted at 16,988 as against the spot Nifty close of 17,959 on Tuesday.

Meanwhile, the International Monetary Fund (IMF), in its latest World Economic Outlook report, has slashed its forecast for India's FY23 gross domestic product (GDP) growth to 8.2 per cent from 9 per cent, saying that higher commodity prices will weigh on private consumption and investment. 

However, even at 8.2 per cent, it is still a more bullish outlook compared to other agencies, including the RBI, which earlier this month cut its FY23 GDP forecast to 7.2 per cent from 7.8 per cent. READ MORE

Earnings Watch: Angel One, Glenmark Life Science, Indbank Merchant Banking Services, Ind Bank Housing, ICICI Securities, Reliance Industrial Infrastructure and Tata Elxsi are among the 14 companies scheduled to announce Q4 results on Wednesday.

NBFCs: The Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies (NBFCs), in line with commercial banks. The Central Banker has put a cap on aggregate exposure to single entity at 20 per cent of the capital base; and 25 per cent in case of group entities. NBFCs have been asked to report divergence in asset classification and provisioning. Further, it has also tightened norms for lending to board members and their relatives. READ MORE

ACC: The cement major reported 25.9 per cent drop in Q4 net profit at Rs 527.61 crore on a standalone basis for the quarter ended March 2022 as against Rs 748.89 crore in Q4 of March 2021. Total income, however, was up 3.4 per cent at Rs 4,484.05 crore from Rs 4,335.03 crore.

Mastek: The company posted 16.5 per cent growth in Q4FY22 consolidated net profit at Rs 88.23 crore when compared with Rs 75.71 crore in Q4FY21. Total income was up 23.2 per cent YoY at Rs 599.46 crore from Rs 486.45 crore in the same period.

Tata Steel Long Products: The company’s Q4 net profit plunged 82.5 per cent to Rs 59.62 crore for the quarter ended March 2022 as against Rs 339.85 crore in the year ago period, mainly on account of sharp rise in input costs. Total income, however, was up 16.7 per cent YoY at Rs 1,823.67 crore from Rs 1,562.21 crore.

PCBL: The company formerly known as Phillips Carbon Black reported a 29.1 per cent decline in Q4FY22 net profit at Rs 90.27 crore when compared with Rs 127.38 crore in Q4FY21. Total income, however, surged 40.3 per cent to Rs 1,230.52 crore from Rs 877.32 crore.

Punjab & Sind Bank: The state-run bank has declared outstanding dues of SREI companies - SREI Infrastructure Finance (SIFL) dues worth Rs 510.16 crore and SREI Equipment Finance Limited (SEFL) Rs 724.18 crore as fraud and reported to the RBI as per regulatory requirement. READ MORE

Larsen & Toubro Infotech (LTI): The company reported 16.8 per cent YoY jump in net profit at Rs 637.5 crore for the fourth quarter of FY22. Revenue was up 31.6 per cent at Rs 4,301.6 crore.

Coal India: India's largest coal producer said it has upped its supplies by 14.2 per cent to coal-based electricity generating plants in the first half of the current month, but soaring power demand due to hotter-than-normal summer seems to have dwarfed the upsurge in supplies.

Dabur India: The homegrown FMCG major plans to induct a fleet of 100 electric vehicles (EVs) in its supply chain for last-mile product distribution in the next 12 months.

Sugar: Exports in the current marketing season that started in October is expected to be a record 9.5 million tonnes, but it might not lead to sharp escalation in domestic prices as production is expected to be better than anticipated, the Central government hoped.

Moneyboxx Finance: The company formerly known as Dhanuka Commercial has scheduled its board meeting on April 23 to consider a proposal to raise funds via issue of preferential shares/ NCDs.

Benares Hotels: The company’s Q4 net profit soared 197 per cent to Rs 3.03 crore for the quarter ended March 2022 when compared with Rs 1.02 crore in the year ago period. Total income was up 46.3 per cent YoY at Rs 16.18 crore from Rs 11.06 crore.

Stocks in F&O ban: Tata Power is the only stock in the F&O ban period on Wednesday.