Stocks in Focus On October 31: Tata Steel, Airtel, L&T

Stocks in Focus Today, October 31:  Indian benchmark indices BSE Sensex and NSE Nifty50 are likely to have a positive start on Monday amid strong global cues. The SGX Nifty - which is traded on the Singapore stock exchange - was up by 183.5 points, or 1.03 per cent, at 18,018 in early trade today. Asian-Pacific markets are also hinting towards a positive start as most markets traded in the green in early trade. While Japan's Nikkei 225 surged over 399 points or 1.47 per cent, South Korea’s Kospi gained over points or 0.89 per cent at 7:40 am. The Hang Seng index in Hong Kong too traded in green and was up by over 87 points or 0.59  per cent.

Meanwhile, Dow Jones had a terrific week and was up a massive 1779.24 points or 5.72 per cent to close at 32,861.80 points. All major US indices had gained around 2.5 per cent on Friday. The Dow Jones Industrial Average rose 2.59 per cent, the S&P 500 gained 2.46 per cent, and the Nasdaq Composite added 2.87 per cent.

Stocks in Focus Today, On October 31

Tata Steel: Tata Steel, iron and steel company of Tata Group, will announce its second quarter results today. There are speculations of weak results due to the company's weak operations in India as well as in Europe. The decline in steel prices are expected to be a key factor in company's Q2 results. In the last quarter, Tata Steel's Profit After Tax (PAT) came in lower year on year (YoY) by 13 per cent. 

Airtel: Telecom major Bharti Airtel is expected to report healthy second-quarter results for the financial year 2022-23 (Q2FY23) today. Among all, profit may witness double-digit growth quarter-on-quarter (QoQ), while margins may expand marginally during the quarter. According to Zee Business Senior Research Analyst Kushal Gupta, the consolidated profit after tax (PAT) of Bharti Airtel may grow by 44.8 per cent QoQ.

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Larsen and Toubro (L&T): Defence and construction company Larsen and Toubro (L&T) Limited will announce its second quarter results today and the company is expected to report robust second-quarter earnings for the financial year 2022-23. Both the top and bottom lines may grow in double-digit, while margins are likely to expand marginally in Q2. “Strong tender pipeline from domestic as well as exports market expected to boost order inflows. The company announced orders of Rs 6500-13500 crore during the quarter and order execution and inflows are in line with the company’s guidance,” Zee Business research report noted.

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