Stocks to Watch: M&M, Tata Coffee, Voda Idea, Coal India, Hindalco, REL

Stocks to Watch Today: The Aditya Birla Group has planned a massive Rs 77,000 crore capex; Meanwhile, this week the focus will be on rate sensitive sectors ahead of the RBI policy meet on Wednesday.

Stocks to Watch Today: The BSE Sensex and the NSE Nifty are likely to start trade for the week on a tepid note amid mixed global cues, with focus largely on the upcoming RBI policy meet on Wednesday. As of 07:10 AM, the SGX Nifty futures quoted at 16,510 as against the spot Nifty close of 16,584 on Friday.

According to a poll conducted by Business Standard, a majority of the participants expect the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) to raise the policy rate, or the repo rate, by 50 bps to 4.9 per cent this week. READ MORE

Meanwhile, these are the stocks that are likely to see some action in trades on Monday.

JSW Steel: The fate of JSW Steel's businesses in Italy largely depends on contracts from Italian railway authorities, a senior company official said.  The parent company has so far failed to revive the Italian company it acquired in 2018, and rising raw material cost and geo-political issues, has not helped matters either. READ MORE

Coal India: The fuel supply by Coal India to captive power plants dropped 39.74 per cent in May 2022 over the year-ago period.  However, supply to the steel sector and power sector increased by 67.83 per cent and 19.48 per cent last month, during the same period. READ MORE

Mahindra & Mahindra (M&M): Brokerages have revised their earnings expectations upwards and expect the company to achieve 18-20 per cent growth in revenue and earnings over the next two years. They say robust demand trends in the utility vehicle (UV) space, improving tractor sales, turnaround in performance of subsidiaries, and better capital allocation were some of the positives for M&M. READ FULL ANALYSIS

Aditya Birla Group: Led by metals major Hindalco, the Aditya Birla group would be investing a massive Rs 77,000 crore in creating new capacities and entering new sectors such as paints. This would be the group’s largest investment since 2007. READ MORE

Tata Coffee: Coffee chain operator Tata Starbucks has reported a 76 per cent growth in revenue to Rs 636 crore for FY22 and "significantly" reduced its net loss, driven by normalisation of operations following easing of Covid-related restrictions.

Sun Pharma: The drug major plans to increase its field force in the domestic market by 10 per cent in the current fiscal in order to drive twin objectives of brand focus and geographical expansion, according to a senior company official.

Vodafone Idea: The telecom player is is rolling out an ambitious digital play in the next 12 months by tying up with the top two-three players in each digital platform category. However, it will have to catch up with its rivals Reliance Jio and Bharti Airtel which are way ahead of it in the digital sweepstakes.

Aurobindo Pharma: Pegged back by a weak showing in the US and EU markets and cost pressures, the company delivered a weaker-than-expected performance in the March quarter (Q4). The muted performance and near-term margin outlook led to a downward revision of earnings estimates by up to 15 per cent. However, while valuations are now attractive, product approvals and progress on the injectable guidance are among key long-term term triggers. READ FULL ANALYSIS

Reliance Infrastructure (REL): The company’s board approved a proposal to raise up to $500 million by way of FCCBs.