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YES Bank, Reliance Capital, TVS Motor and Ajanta Pharma top stocks to watch

Here's a look at the top stocks that may remain in focus today -

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, Trade

March quarter earnings and US Federal Reserve's monetary policy decision will be on investors' radar on Tuesday. Moreover, global cues such as China macroeconomic data and oil prices will also play a key role. Asian shares slipped in the early trade on Tuesday as investors await the US Fed's policy decision for clues of whether it will continue to take a “patient” approach to interest rate policy.

Here's a look at the top stocks that may remain in focus today -

YES Bank: YES Bank shares are likely to face pressure when the trading resumes on Tuesday after the lender reported a surprise loss of a whopping Rs 1,506 crore for the March quarter under a new management led by Ravneet Gill. Post this, Australian brokerage Macquarie said on Monday its assessment of YES Bank's structured finance business was "all wrong" and downgraded the bank's stock to "underperform".

Earnings today: As many as 44 companies including Ajanta Pharma, Ambuja Cements, Can Fin Homes, Godrej Properties, Indian Hotels, Gruh Finance, TVS Motor Company and Monsanto are slated to release their Q4 earnings today.

Reliance Capital: Debt-ridden Reliance Capital (RCap) is planning to bring in strategic investors in two group entities — home finance and commercial finance businesses, said a Business Standard report. Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance (RHFL), the report said citing sources.

ITC: According to reports, ITC is being probed for not passing on GST benefits to customers.

Hero MotoCorp: The country's largest two-wheeler maker Hero MotoCorp Friday reported 24.5 per cent decline in its standalone net profit at Rs 730.32 crore for the fourth quarter ended March 31, 2019. Results were announced post market hours.

Reliance Nippon Life Asset Management: The company on Monday reported 34 per cent jump in its net profit at Rs 151 crore during the fourth quarter of 2018-19.

Castrol India: It reported a 2 per cent rise in net profit in the March quarter on back of higher revenues.

Bank of Maharashtra: The state-owned lender on April 29 posted a net profit of Rs 72.38 crore in the quarter ended March 31. It had posted a net loss of Rs 113.51 crore in the corresponding quarter of the previous financial year.

Orient Cement: The company's Q4 net jumped over four-fold to Rs 61.98 crore. Orient Cement's total income rose 21.14 per cent to Rs 754.89 crore during the quarter under review as against Rs 623.13 crore in the corresponding quarter last year.

Trent: Tata group retail firm Trent on April 29 reported an increase of 36.79 per cent in standalone net profit at Rs 15.95 crore for the fourth quarter ended March 31, 2019.

L&T Finance Holdings: The company's consolidated net profit rose by 94 per cent to Rs 548 crore for fourth quarter ended March 2019 (Q4Fy19) on rise in interest margins. The net interest margins (NIMs) rose to 5.08 per cent in Q4 Fy19 from 4.64 per cent in Q4FY18.

HPCL, MRPL, ONGC: Hindustan Petroleum Corp Ltd's plans to acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) has hit a cash hurdle, with parent ONGC preferring a cash deal rather than a share-swap, reports said.

Ajanta Pharma: The company has received USFDA nod for anti-bacterial antibiotic, Clarithromycin (250-500 mg).

Voltas: The brokerage firm has maintained buy rating on Voltas and raised target price to Rs 675 from Rs 640. Despite delayed summer and weak growth outlook for auto companies, AC industry should post decent growth in FY20, it said.

Biocon: CLSA has retained sell rating on Biocon with a target price of Rs 470.

HDFC Life Insurance Company: Citigroup Global Markets has 'sell' rating on the stock with the target price of Rs 350.

PNB Housing: According to reports, CARE ratings has assigned 'AAA' rating to PNB Housing, has also put the company on credit watch with developing implications.

Garden Reach Shipbuilders: Kolkata-based defence shipyard Garden Reach Shipbuilders & Engineers (GRSE) signed a Rs 6,311-crore contract with the defence ministry on Monday to build eight anti-submarine warfare shallow water craft (ASWSWCs) for the Indian Navy.

Cipla: gets US FDA for generic version of Letairis

Persistent Systems: IT firm Persistent Systems on Saturday reported over 14 per cent rise in its consolidated net profit to Rs 84.5 crore during the quarter ended March 31. The company had posted Rs 73.7 crore net profit during the same period a year ago.

Inox Leisure: It will be adding 80-90 screens each year as it aims to achieve 850 screens in the next few years. The company currently operates 578 screens at 140 multiplexes across 67 cities in India.

Minda Industries: Minda Industries has issued the Commercial Paper (CP) of Rs. 30 crore with issue date 26 April, 2019 and due for maturity on 25 July, 2019. This is in line with the management efforts to bring down the finance cost.

Axis Bank is planning to raise Rs 35,000 crore debt instrument, including in foreign currency.

NIIT Technologies: The Competition Commission of India (CCI) has cleared Baring Private Equity Asia's 30 per cent stake purchase in NIIT Technologies in a Rs 2,627 crore deal.

First Published: Tue, April 30 2019. 07:27 IST