Stocks to watch: Eicher Motors, Tata Consumer, Coal India, BoB, IRCTC

today: Better-than-expected US inflation data and supportive global cues are likely to cheer on Thursday. As of 7:10 AM, the SGX Futures quoted 17,745 levels, indicating a gap-up open of over 200 points on the Nifty50.

Globally, the US clocked strong gains on Wednesday after the US CPI eased from 40-year high to 8.5 per cent in July. Dow Jones jumped 500 points to 1.6 per cent, while the S&P 500 climbed 2.1 per cent, and NASDAQ Composite rose 2.8 per cent.

Asia-Pacific markets, too, were exuberant in trade on Thursday morning as Australia’s S&P 200 rose 0.6 per cent and South Korea’s Kospi advanced 1.1 per cent.

Meanwhile, back home, here is a list of stocks that may see some action in trade on Thursday:

Results today: Page Industries, Apollo Hospitals, Trent, Bharat Forge, Aurobindo Pharma, Bata India, Phoenix Mills, Sapphire Foods India, KNR Constructions, Sunteck Realty, Greaves Cotton, Shilpa Medicare, Wonderla Holidays, and West Coast Paper Mills will report their June quarter results (Q1FY23).

Eicher Motors: The auto major reported over two-fold jump in consolidated net profit to Rs 611 crore in Q1FY23 from Rs 237 crore from a year-ago period, driven by robust sales in international . The company’s revenue from operations, meanwhile, climbed to Rs 3,397 crore in Q1FY23 from Rs 1,974 crore in Q1FY22. READ MORE

Tata Consumer Products: FMCG major posted 38.2 per cent rise in consolidated net profit to Rs 276.72 crore for the June quarter 2022-23 from Rs 200.24 crore crore, a year ago. Revenue from operations, too, surged 10.58 per cent year-on-year (YoY) to Rs 3,326.83 crore in Q1FY23. Despite a challenging macro environment, the management said that the company recorded market share gains in both tea and salt categories in India. READ MORE

Coal India: The state-run firm saw 178 per cent jump YoY in consolidated net profit to Rs 8,834 crore from Rs Rs 3,174 crore in the corresponding quarter of previous fiscal. Despite higher production and despatches, the miner was able to control total expenses to Rs Rs 23,985 crore in Q1FY23. READ MORE

Bank of Baroda: The public sector lender plans to raise the marginal cost of fund-based lending rates (MCLR) by 5-20 basis points (bps) across tenors. The interest rate hike comes after the Reserve Bank of India (RBI) raised the benchmark repo rate by another 50 bps to 5.40 per cent. READ MORE

IRCTC: The company reported a 196 per cent surge YoY in net profit to Rs Rs 246 crore in Q1FY23 as against Rs 82.5 crore in the year-ago period. Revenue from operations, on the other hand, rose 251 per cent to Rs 853 crore in Q1FY23 from Rs 243 crore in Q1FY22. READ MORE

Infosys: Chief Executive Officer Salil Parekh expects moderation in attrition levels for Infosys over the coming quarters. Further, Parekh stressed that the attrition measured on a quarterly basis has already started to show signs of improvement and the same would reflect on an annualised basis soon. Earlier, Infosys attrition levels rose to 28.4 per cent in Q1FY23 from 27.7 per cent in the previous sequential quarter. READ MORE

Pidilite Industries: The company reported 64.27 per cent YoY rise in consolidated net profit at Rs 357.52 crore in Q1FY23 from Rs 217.64 crore. Revenue from operations was up 60.11 per cent at Rs 3,101.11 crore as against Rs 1,936.79 crore in the year-ago period. While the revenue from consumer and bazaar segment rose 63.9 per cent YoY, business to business segment climbed nearly 50 per cent YoY in Q1FY23.

Zomato: The food delivery platform plans to reach breakeven level in overall business by end of second quarter in FY24. The company trimmed their investment guidance to $320 million from $400 million. They expect food delivery business to aid adjusted Ebitda, asserting reduction in fixed costs as well.

Vedanta: In order to diversify operations across the natural resources spectrum, Vedanta CEO Anil Agarwal said that the company aims $100 billion revenue by 2030 and capex of around $3 billion over the next two years for growth and vertical integration.

Stocks in F&O ban: Balrampur Chini Mills and Delta Corporation were the stocks banned in the F&O ban period on Thursday, July 11.

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