Tata Steel share price added 2 percent intraday on November 11 ahead of the company's scheduled earnings announcement for the second quarter of FY22 later today.
Tata Steel is expected to post a sevenfold increase in net profit from a year ago and a 60 percent rise in revenue in the three months ended September, aided by higher volumes and realisations, analysts said.
On a quarterly basis, profit may improve by 25-30 percent while revenue could increase by about 13 percent, they said.
Steel realisation is expected to increase 2 percent q-o-q and 71 percent y-o-y led by higher steel prices in the domestic market, sequential increase in exports and a price reset in contracted volumes, Kotak Institutional Equities said.
Volumes are expected to rise 18 percent q-o-q to 4.5 million tonnes on the easing of pandemic restrictions. However, on a yearly basis, this 8 percent lower on a high base and a price-led pushback, it added.
ICICI Securities expects Tata Steel to record revenue of Rs 60,254 crore for the quarter, a rise of 62 percent from a year earlier and a 13 percent increase from the previous quarter.
Standalone steel sales volume are expected at 3.5 million tonnes, European steel sales are likely to come in at 2.2 million tonnes, and Bhushan Steel is expected to report sales volumes of 1.1 million tonnes, according to the brokerage.
At 12:09 hrs, Tata Steel was quoting at Rs 1,322.25, up Rs 23.70, or 1.83 percent on the BSE.