Tata Steel, Bajaj Housing Finance, Coal India, Union Bank: How stocks are faring ahead of Q3 results

Shares of Tata Steel Ltd, Bajaj Housing Finance Ltd, Coal India Ltd and Union Bank are trading on a mixed note ahead of their Q3 earnings set to be announced today. Tata Group firm Tata Steel's stock was trading lower in the afternoon session today. Tata Steel shares slipped 0.92% to Rs 128.80 on BSE against the previous close of Rs 130. Market cap of the firm stood at Rs 1.62 lakh crore. Total 15.24 lakh shares changed hands amounting to a turnover of Rs 19.67 crore on BSE.

The Tata Group stock is trading near its 52-week low of Rs 122.60 reached on January 13 this year.
In a year, the Tata Steel stock has fallen 3.63%. Tata Steel shares have rallied just 6.76% in two years and 18% in three years.

Antique Broking sees a 7.6 per cent Y-o-Y growth in Tata Steel's standalone volume, led by the Kalinganagar expansion. However, consolidated EBITDA is may fall 28 per cent Y-o-Y, signaling lower profitability in Indian operations and continued losses in Europe. 
 
Brokerage Anand Rathi expects a 5.3 per cent Y-o-Y fall in revenue due to weaker domestic steel prices and ongoing challenges in European markets. 
 
Shares of Bajaj Housing Finance were also trading lower in the afternoon session today.

Bajaj Housing Finance stock slipped 2.70% to Rs 106.20 against the previous close of Rs 109.15 on BSE. 
Market cap of the Bajaj Group firm fell to Rs 88,444 crore. Total 12.81 lakh shares changed hands amounting to a turnover of Rs 13.59 crore.

Kotak Equities expects net interest income (NII) to rise 24% year-on-year (YoY) to Rs 798 crore in Q3. Profit is seen rising 31% YoY to Rs 574 crore. Provisions are likley to rise multifold in Q3 while pre-provision operating profit is likely to rise 30% YoY to Rs 746 crore.

Shares of Union Bank were trading on a flat note at Rs 106.75 against the previous close of Rs 107.25 on BSE. Market cap of Union Bank stood at Rs 81,526 crore. Total 2.52 lakh shares changed hands amounting to a turnover of Rs 2.65 crore.

Kotak Institutional Equities sees net interest income (NII) at Rs 9,347.6 crore, up flat on both yearly and sequential basis. PPOP is seen at Rs 7,054.6 crore, down 13 per cent QoQ and 3.1 per cent YoY.

Equirus Securities expects NIIs at Rs 9,133.3 crore, flat on both yearly and sequential basis. Pre-provisioning income is seen at Rs 6,855.9 crore, down 15.5 per cent QoQ and 5.8 per cent on a yearly basis. NIMs may contract to 2.8 per cent, while net profit is seen at Rs 3,783.4 crore, falling 19.8 per cent QoQ and 5.4 per cent YoY.

Coal India shares were trading on a flat note at Rs 379.85 on BSE. Market cap of Coal India stood at Rs 2.34 lakh crore. Total 2.96 lakh shares changed hands amounting to a turnover of Rs 11.21 crore.

The company will declare second interim dividend with Q3 results today.

Nuvama expects Coal India’s EBITDA to fall 7% YoY on lower e-auction prices, said Nuvama Research. The brokerage sees flat volume (+1% YoY; 193mt), lower blended realisation (-2% YoY; Rs 1,690/t) and a marginal rise in CoP ex-employee cost (+2% YoY). "E-auction prices continue to be weak (down 19% YoY to ?2,700/t), partially offset by higher e-auction volume (up 21% YoY to 19mt)," said the brokerage.