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Tata Steel Q3 earnings: Prabhudas Lilladher, which sees profit at Rs 250 crore, said TSE contribution to deteriorate further sequentially on GBP 30-35 QoQ drop in European prices and weak volumes at Tata Steel UK (down 10 per cent QoQ).
In the mainstay jewellery business, which accounts for a large share of Titan’s revenue, average ticket sizes saw steady improvement y-o-y.
Apollo Tyres surged for the third day in a row to hit a fresh 52-week high of Rs 318. CEAT jumped for the fourth consecutive day to hit a fresh one-year high of Rs 1,952.80. JK Tyre gained hit a 52-week high of Rs 203.95.
The outperformance during the March quarter has given wings to much expectations, as analysts now hope for even better performance next quarter as the full impact of the price hikes kicks in.