Stocks to watch: ITC, Narayana Hrudayalaya, Magma Fincorp, auto stocks

Nifty futures on the Singapore Exchange traded 45 points higher at 15,625 around 8.30 am, indicating a firm start for the benchmark indices on Tuesday.

Here are the top stocks to watch in today's session:

Earnings Today: A total of 17 companies are slated to post their March quarter numbers today, including ITC, Balrampur Chini Mills, Gujarat Gas and Radico Khaitan.

Analysts expect ITC to post high single-digit revenue growth on a yearly basis during the quarter under review, although the profit after tax (PAT) is expected to fall. READ MORE

Auto stocks: Shares of auto companies will be in focus as automakers will report May sales figures between June 1-2. Experts eye a double-digit decline across segments, especially in the two-wheeler and commercial vehicles space, while the impact on tractors and the passenger vehicle segments could be lesser.

Defence stocks: Shares of defence equipmemt manufacturers will be on investor radar today after the Defence Ministry on Monday notified the second negative import list of 108 items that can now be only purchased from indigenous sources. 

Jammu & Kashmir Bank: The lender will consider the proposal of capital infusion in the bank by the state government as its promoter shareholder to the extent of Rs 500 crore on June 4.

Magma Fincorp: The non-banking finance company reported widening of its consolidated net loss to Rs 647.72 crore for the last quarter of FY21 on accelerated write-offs and provisions. The Board on Monday appointed Adar Poonawalla as the Chairman and Abhay Bhutada as the Managing Director. Vijay Deshwal, a seasoned banker currently with ICICI Bank, will take charge as CEO of Magma Fincorp from July. He will also be the Group CEO.

Greenply: City-based playboard major Greenply Industries on Monday said it will be investing a total of Rs 115 crore for setting up of greenfield plywood and its allied products manufacturing plant in Uttar Pradesh and the plant was expected to be operational by March-April quarter of 2022.

Canara Bank: State-owned Canara Bank on Monday said it has appointed S K Majumdar as its chief financial officer (CFO) with immediate effect.

Honeywell Automation India: The company reported a 6.4 per cent YoY decline in profit at Rs 104.02 crore for the fourth quarter of FY21 as against Rs 111.14 crore in the corresponding quarter last fiscal.

Narayana Hrudayalaya: The company's March quarter consolidated profit jumped over five folds to Rs 68.05 crore from Rs 11.99 crore posted in the same period a year ago. The revenue came in at Rs 837.76 crore as against Rs 742.95 crore YoY.

Rupa & Company: The company reported consolidated profit at Rs 65.9 crore in Q4FY21 as against a loss of Rs 4.28 crore in Q4FY20.

Trent: The company allotted 5,000 unsecured, redeemable NCDs of Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis.