Tata Steel has surged 6% to Rs 451, its highest level since July 2012 on the BSE, ahead of its January-March (Q4FY14) quarter earnings due for release later today.
The stock opened at Rs 430 and has seen huge trading activity. At 1435 hours, a combined 9.84 million shares already changed hands against an average sub-7 million shares that were traded daily in the past two weeks.
Tata Steel may post strong fourth-quarter earnings on the back of volume growth in both domestic and European operations.
Prabhudas Lilladher expects consolidated EBITDA to grow 28% QoQ at Rs 5,120 crore on the back of strong earnings in Tata Steel Europe and Indian operations.
"We expect Tata Steel’s net profit to improve by 24.2% yoy due to an improvement in profitability from its European operations, " an analyst at Angel Broking said in a note.
Meanwhile, Tata Steel expects metal consumption in India to grow by about 5% to 75 million tonnes in 2014-15 on hopes that the economy will kick-start once the new government is in place after the general elections, a PTI report suggests.
The stock opened at Rs 430 and has seen huge trading activity. At 1435 hours, a combined 9.84 million shares already changed hands against an average sub-7 million shares that were traded daily in the past two weeks.
Tata Steel may post strong fourth-quarter earnings on the back of volume growth in both domestic and European operations.
Prabhudas Lilladher expects consolidated EBITDA to grow 28% QoQ at Rs 5,120 crore on the back of strong earnings in Tata Steel Europe and Indian operations.
"We expect Tata Steel’s net profit to improve by 24.2% yoy due to an improvement in profitability from its European operations, " an analyst at Angel Broking said in a note.
Meanwhile, Tata Steel expects metal consumption in India to grow by about 5% to 75 million tonnes in 2014-15 on hopes that the economy will kick-start once the new government is in place after the general elections, a PTI report suggests.
