The shares of Tata Steel surged almost 3 percent in intraday trade on Friday as the company is due to report its quarterly earnings for the October to December 2021 period later in the day.

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A CNBC-TV18 poll of analysts expects a good financial result from the steelmaker for December 31, 2021, ended quarter. The Street expects a more than 50 percent growth in top line consolidated numbers. The EBITDA (earnings before interest, taxes, depreciation, and amortization) is likely to jump up by close to 60 percent.

Margins will improve on a year-on-year basis. However, on a sequential basis, there will be some pressure whereas the profit number is going to be quite massive, according to the analysts' poll.

Ahead of the Q3 earnings announcement, Tata Steel stock rose 2.75 percent intraday to Rs 1,197.75 on BSE. The stock was up 1.4 percent to Rs 1,183.05 on NSE. Tata Steel shares were among the top gainers in the Sensex pack and also one of the volume toppers.

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Amid the market rally leading to the Budget 2022 announcement and in the run-up to Q3 results, the stock gained 7.44 percent in the past five days as against the benchmark Sensex index which has risen 1.26 percent during the period.

In the one-year period, the Tata Steel shares have given a return of more than 80 percent to investors against Sensex which gained nearly 16 percent during the period.

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Meanwhile, Dutch public prosecutors, earlier this week said they had launched a criminal investigation into the Dutch arm of Tata Steel and another company for "intentional and unlawful" pollution of surface water. In a statement, they said they had informed Tata and Harsco Metals Holland BV of the investigation following a number of complaints.

(With agency inputs)

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First Published:Feb 4, 2022 3:12 PM IST