Stocks to watch on August 1: Infosys, Zomato, oil upstream firms, ITC, Dabur, Tata Motors

Here's a list of stocks that may remain in focus today:

Earnings today: Zomato, ITC, Tata Motors, Sun Pharma, Prince Pipes, Godrej Agrovet, Hikal, Adani Ports, Dabur, and Bombay Dyeing are among the companies that are slated to declare their June quarter earnings today. 

Infosys: India’s second-largest IT services company, Infosys, has been slapped with a ‘pre-show cause’ notice for alleged GST evasion to the tune of about ₹32,403 crore. In a BSE filing, the Bengaluru-headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.

Coal India: The country's largest state-run coal miner, Coal India Limited (CIL), posted a 4.24% rise in consolidated net profit year-on-year at ₹10,943.55 crore for Q1 of FY2024–25. In the June quarter of the previous fiscal, CIL recorded a net profit of ₹10,498.39 crore. On a quarter-on-quarter basis, Coal India improved its net profit by 26.7%.

Auto stocks are expected to remain in focus in today's session as automakers will start releasing their sales figures for July today. 

Tata Steel: Steel major Tata Steel on Wednesday reported a 75% rise in its consolidated net profit at ₹918.57 crore in the June 2024 quarter as the company managed to reduce its expenses. It had reported a net profit of ₹524.85 crore during the April-June period of the preceding 2023–24 fiscal, the company said in an exchange filing. The total income fell to ₹55,031.30 crore in the reporting period from ₹60,666.48 crore a year ago. During the quarter under review, the company reduced its expenses to ₹52,389.06 crore from ₹ 58,553.25 crore in the same period a year ago.

Bank of Baroda: Bank of Baroda on Wednesday reported 6.19% growth in June quarter consolidated net profit at ₹4,727.81 crore, as the state-run lender calibrated loan growth. On a standalone basis, the public sector bank's net profit grew 9.5% to ₹4,458 crore. Bank of Baroda said its core net interest income grew 5.5% on the lower advances growth of 8.1%, and the net interest margin narrowed by 0.09% to 3.18%. The overall deposit growth was 8.9%.

Oil upstream companies such as ONGC and Oil India are expected to hog the limelight today as the government has slashed the windfall tax on domestically produced crude oil to ₹4,600 per tonne from the previous ₹7,000 per tonne.