Stocks to watch: TechM, SBI Card, Axis Bank, Maruti, Britannia, TaMo

Nifty futures on the SGX traded 40 points down at 14,448 at around 8.45 am, indicating a weak start for D-Street.

Here are the top stocks to track today:

Tech Mahindra: The IT major on Monday reported net profit of Rs 1,081 crore for the fourth quarter ended March 31, 2021, up 34.6 per cent year-on-year (YoY). On a sequential basis, the figure was down 17.4 per cent from Rs 1,309.8 crore. The company misses estimates of over 50 per cent jump in Q4 PAT.

SBI Card: SBI Cards and Payment Services (SBI Card) reported a net profit of Rs 175 crore in the March quarter of FY21, up 110 per cent compared to Rs 84 crore in the same period last year due to lower provisions and a significant jump in other income and income from fees and services.

HDFC Life Insurance: The private sector insurer reported a 2 per cent YoY increase in its standalone profit after tax to Rs 318 crore in the quarter ended on March 31, 2021, compared to Rs 312 crore in the year-ago period.

Earnings Today: A total of 28 companies are set to report their March quarter results today including largecap names such as Axis Bank, Maruti Suzuki, Bajaj Finance, Britannia and HDFC AMC.

Axis Bank may report a subdued earning show for Q4FY21 as analysts believe the lender may see a single-digit loan growth, deterioration in asset quality, and slippages at 4.5 per cent of loan book. It may, nonetheless, report net profit as against net loss posted in the year-ago period. READ PREVIEW HERE

As regards Maruti Suzuki, higher realisation on account of price increases, lower discounts and benign mix could aid the automobile manufacturers revenue growth during the quarter under review. READ PREVIEW HERE

Britannia Industries is expected to report a strong set of numbers for January-March quarter of FY21 as consumer goods' demand reaches pre-Covid levels. Analysts forecast a high, single-digit growth in sales volume along with up to 25 per cent YoY growth in net profit. READ PREVIEW HERE

Private banks: The RBI on Monday capped the tenure of managing directors and chief executive officers of private banks at 15 years. Promoters or major shareholders, however, cannot hold these posts for more than 12 years, but the RBI can choose to give them a three-year extension under extraordinary circumstances. 

AstraZeneca Pharma: The United States will start to share up to 60 million doses of AstraZeneca Plc's Covid-19 vaccine doses with other countries, White House senior Covid-19 adviser Andy Slavitt said on Monday. 

63 Moons: The Securities Appellate Tribunal (SAT) has dismissed an appeal filed by 63 Moons Technologies challenging a Sebi order that disallowed it from providing Straight Through Processing gate services.

Tata Teleservices: The company reported a substantial narrowing of its losses to about Rs 288.3 crore for the fourth quarter ended on March 31, 2021. The losses were at Rs 873.9 crore in the corresponding period previous year.

Castrol: Leading lubes player Castrol India on Monday reported near doubling of net income for the quarter to March at Rs 243.6 crore as against Rs 125.2 crore a year ago, driven by robust revenue growth.

Tata Motors: The lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. Hence, the company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers, the company said on Monday.

NTPC: State-owned power giant NTPC has invited expression of interest (EoI) for the sale of desalinated water produced at its joint venture project NTECL Vallur in Tamil Nadu. NTECL is a 50:50 Joint Venture Company formed between NTPC and Tamil Nadu Generation and Distribution Company Ltd (TANGEDCO).

Bank of Maharashtra: The board will consider raising capital by issuing Basel III bonds either through a follow-on public offer, rights issue, qualified institutional placement, preferential issue or a combination of these. The board will meet on April 29 to consider the proposal.

Union Bank of India: The board of the bank will meet on April 29 to consider an extension of the validity of its fundraising plan for FY21.

Shalby: Offer for sale  (OFS) by promoter Shah Family Trust has been subscribed 193 per cent by non-retail investors on the first day of the issue. Promoters plan to sell up to 58.1 lakh equity shares, or a 5.38 per cent stake, at a floor price of Rs 111 per share. The issue will open for retail investors today. 

Federal-Mogul Goetze: OFS got subscribed 395 per cent by non-retail investors on the first day. Promoter IEH FMGI Holdings LLC plans to sell up to 55.4 lakh equity shares, or a 9.95 per cent stake, a floor price of Rs 250 per share. 

Hathway Cable and Datacom: OFS received 151 per cent bids by non-retail investors on the first day. Three promoters--Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings--plan to sell up to 20.5 crore shares of the company, representing an 11.6 per cent stake, at a floor price of Rs 21.5 apiece. 

Sagar Cements: The board of the company has approved a proposal to merge a wholly-owned subsidiary - Sagar Cements (R) - with itself. SCRL has cement manufacturing and power generation facilities in Andhra Pradesh.