Tata Steel shares rise ahead of Q4 results today; here's what to expect

Tata Steel share price NSE: The steelmaker’s revenue is expected to decline by 14.3 per cent to Rs 59,418 crore compared with the year-ago period. The company is likely to report EBITDA per ton at Rs 13,107 crore against Rs 11,241 crore in the previous quarter.

Tata Steel Q4 results expectations: The steelmaker’s revenue is expected to decline by 14.3 per cent to Rs 59,418 crore compared with the year-ago period. Image: Reuters

Tata Steel share price NSE, Tata Steel Q4 results 2023 date: Tata Steel shares on Tuesday surged nearly 2 per cent or Rs 1.45 to Rs 109.4 apiece at 11:11 AM on NSE ahead of quarterly results of the steel manufacturer. The steel company of Tata Group is likely to report a 97.1 per cent fall in profit after tax (PAT) to Rs 288 crore for the quarter that ended on March 31 compared with the corresponding period a year ago, according to Zee Business Research.

As Dalal Street returned to trade after a long weekend, the counter opened at Rs 108 on NSE. As many as 2,27,83,072 shares have exchanged hands of the stock of 24,897.34 lakhs so far on NSE.

Tata Steel Q4 results expectations: What to expect from the steel manufacturer?

The company's is expected to decline by 14.3 per cent to Rs 59,418 crore compared with the year-ago period. The company is likely to report EBITDA per ton at Rs 13,107 crore against Rs 11,241 crore in the previous quarter. On a year-on-year (YoY) basis, India's business' EBITDA might decline 46.8 per cent.

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The key measure of profitability for a business — the company's margin is likely to slump by 1,290 basis points to 9.1 per cent, with the Europe EBITDA per tonne estimated at $74 from $241 a year ago, according to Zee Business research.

The March quarter business update showed that sales grew 6 per cent QoQ. While the cost of Hot Roll Coil (HRC) declined by 12 per cent YoY, the cost rose 5 per cent QoQ.

According to the Zee Business report, the company will benefit from the price decline in coking coal – an essential input for the production of iron and steel.

At the time of filing this report, shares of Tata Steel were trading nearly 1 per cent on the upside on NSE and quoted Rs 107.75 apiece. On BSE the stock traded at Rs 107.7 apiece. Tata Steel shares declined nearly 10 per cent in value in the past six months, a period in which headline indices Sensex and Nifty50 rose 0.75 per cent each.

Tata Steel share price history

Tata Steel shares have corrected around 15.5 per cent in last year, a period in which headline index Nifty 50 has gained nearly 6 per cent.

Besides, as many as 32 companies are slated to announce their March quarter results later in the day. The list includes names such as Ambuja Cements, Home First Finance Company India, KEI Industries, and UCO Bank, among others.

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(Disclaimer: The stock recommendations given here are by brokerage(s). These are not the views of Zee Business. Consult a professional advisor before making an investment decision.)

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