Metals - Tata Steel likely to support robust earnings performance - Angel Broking

Our coverage metal companies are expected to report a robust earnings growth of 57.7% yoy buoyed by the performance of Tata Steel (aided by its operating profit). Excluding the performance of Tata Steel, earnings are likely to post a growth of 12.3% yoy. For steel companies under our coverage (except SAIL) we expect an improvement in earnings as their revenue and operating profits are aided mainly by higher volume growth. We expect our coverage non-ferrous companies (except Hindalco) to report an improvement in earnings performance. For Hindalco, we expect the bottom-line to decline by 22.5% yoy due to higher interest and depreciation costs.

Source : Equity Bulls

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