Two steelmakers Tata Steel and JSW Steel, IT major TechM, telecom operator Bharti Airtel Ltd and oil marketing company BPCL are seen reporting 10-60 per cent drop in YoY profit.
Tata Steel reported 82.5 per cent decline in bottom line at Rs 1,705 crore for the quarter against Rs 9,756 crore in the year-ago period. The company's revenue from operations fell 9 per cent to Rs 62,962 crore.
Stocks in focus today: PMI data from US, China and India would be keenly watched this week. On the domestic front, investors would continue to track Q4 results along with global cues and Auto monthly sales data. Tata Steel, Adani Green Energy, Tata Motors, NDTV among stocks to watch on Tuesday, May 2, 2023.
Tata Steel shares have dropped 10 per cent this year so far. This is against a 6 per cent fall in the BSE Metals index. In the last five days, the stock is up 2 per cent against a 1.3 per cent rise in the benchmark index