Metal companies Tata Steel and Hindalco did a good run ahead of their March quarter results later in the day.
Tata Steel was 0.70 per cent up at Rs 628.40 early today whereas Hindalco ran up 1.46 per cent to Rs 249.65.
Brokerage firm Prabhudas Lilladher expects 4 per cent annual rise in consolidated profit for Tata Steel. EBITDA and sales are seen to grow 5.50 per cent and 9 per cent, year-on-year.
On a standalone basis, the brokerage firm sees 25.60 per cent rise in PAT whereas sales may dip 2.30 per cent.
Phillip Capital sees 24.80 per cent growth in consolidated PAT of Tata Steel in Q4 FY18. “Lower Indian volumes offset by higher realisations lead to flat revenues,” the brokerage house said in a report.
On the other hand, Prabhudas Lilladher expects Hindalco to post 12.50 per cent increase in adjusted PAT on 7.1 per cent jump in sales. However, Phillip Capital sees 12.60 per cent fall in net profit of Hindalco. However, PAT is expected to jump 17.10 per cent on a quarter-on-quarter basis.
“Higher LME to drive revenues for Hindalco on qoq as well as yoy basis. Higher cost, chiefly alumina, will impact standalone profitability. However, this will benefit Utkal Alumina,” Phillip Capital said in a report.
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