Tata Steel, Titan, Adani Wilmar, MRF among stocks to watch out for today

Domestic equity markets extended their gains for the straight eighth session and settled higher on Tuesday as headline peers defied the muted global sentiments on the back of positive economic data from the country. BSE Sensex gained 242.27 points, or 0.40 per cent, to close at 61,354.71, while NSE's Nifty50 rose 82.65 points, or 0.46 per cent, to settle at 18,147.65 for the day.

Here’s a look at stocks that are likely to remain in news today.

Tata Steel  

The steelmaker reported a 82.5% decline in net profit at Rs 1,705 crore for the quarter ending March 31, 2023. It reported net profit of Rs 9,756 crore in the year-ago period. The company's revenue from operations fell 9% to Rs 62,962 crore in Q4FY23 as compared to Rs 69,324 crore in Q4FY22.

DCM Shriram 

Chemicals company DCM Shriram's profit fell 53 percent to Rs 186.7 crore against Rs 401 crore in the same quarter last year. However, revenue dipped by 1 percent to Rs 2,948.7 crore against Rs 2,873.3 crore in the same quarter last year.

Home First Finance 

Affordable housing-focused shadow bank logged a 6.7 percent year-on-year jump in net profit at Rs 64 crore for the fourth quarter. In the corresponding quarter last year, the company posted a net profit of Rs 60 crore.

Ambuja Cements 

Adani-owned Ambuja Cements reported a marginal rise in net profit at Rs 502 crore for the quarter ending March 31, 2023. It was Rs 494 crore in the year-ago period. The cement maker's revenue from operations rose 8% to Rs 4,256 crore in Q4FY23 as compared to Rs 3,927 crore in Q4FY22.

Coforge  

Promoter Baring Private Equity Asia has offloaded 3.5% stake in Coforge Ltd through the open market for Rs 887 crore.

Titan, Adani Wilmar, MRF, Havells,  

Shares of Titan, Adani Wilmar, MRF, Havells, and Godrej Properties will be in focus today as the companies will announce their March quarter results.

Godrej Consumer  

Godrej Consumer Board will consider a proposal of raising of funds by way of issuance of NCDs aggregating to an amount upto Rs 5,000 crore in one or more tranches.

UCO Bank  

Public sector lender UCO Bank posted its highest-ever net profit of Rs 1,862.34 crore for the fourth quarter

IndoStar Capital Finance  

The promoters of IndoStar Capital Finance plan to sell about 14.2% stake in the company through an offer for sale (OFS), which opens on May 3.

Also read: ACC, Ambuja Cements shares: What analysts say on two Adani group stocks post March quarter results

Also read: Tata Steel shares in focus after Q4 results. Motilal Oswal says performance in-line, net debt reduction positive