Stocks to watch: ICICI Lombard, Tata Coffee, Piramal Pharma, Bank of India

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The SGX Nifty indicates a subdued opening for the Sensex and Nifty today. US market cues were modest on Tuesday, with the Dow Jones, S&P 500, and Nasdaq all finishing flat. Markets in India fell further for the second consecutive session on Tuesday, with no new triggers or major indications from the results season thus far.

ICICI Lombard, Tata Coffee, Piramal Pharma, and Bank of India are among the top stocks to watch today.

ICICI Lombard: ICICI Lombard shares will be scrutinised after the business posts a mixed set of Q4 results. The company’s net profit for the quarter was Rs 437 crore, compared to a CNBC-TV18 poll of Rs 377 crore.

Tata Coffee: Tata Coffee announced mixed fourth-quarter profits. The company’s consolidated sales increased 10% year on year in Q4 to Rs 723 crore, up from Rs 656 crore in the same quarter last year. However, its EBITDA declined 5% to Rs 106 crore from Rs 111 crore in the same period last year.

Piramal Pharma: Piramal Pharma shares will be scrutinised after the US FDA completes its inspection at the company’s Sellersville manufacturing facility. In addition, the regulator issued an Establishment Inspection Report (EIR) for the Sellersville Manufacturing Facility.

Bank of India announced that its board of directors has approved a capital increase of up to Rs 6,500 crore for FY24, including Rs 4,500 crore through the issuance of new equity capital in the form of an FPO, QIP, rights issue, or preferential issue and/or Basel III-compliant additional Tier-1 (AT-1) bonds and Rs 2,000 crore through Basel III-compliant Tier-2 bonds.

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