According to IIFL, Tata Steel numbers are likely to be sequentially weaker due to lower steel prices and higher coking coal costs.
Shares of Tata Steel advanced over 4 per cent and hit fresh 52-week high of Rs 601.50 on Monday ahead of its first quarter results to be announced later in the day.
The stock gained 4.26 per cent to end the day at Rs 600 on BSE. Shares of the company opened at Rs 585 and touched a high and low of Rs 601.50 and Rs 583.50, respectively, in trade.
According to brokerage firm Motilal Oswal, Tata Steel is likely to report net profit of Rs 709.10 crore for the quarter ended June 30, 2017 against net loss of Rs 3,197.30 crore in the corresponding quarter last year.
One should watch imports from China and global iron ore prices in the upcoming quarterly numbers of steel major.
"Consolidated EBITDA is estimated to increase 17 per cent YoY to Rs 3,800 crore," the brokerage house said in a research report.
The scrip had hit 52-week low of Rs 355.30 on September 19, 2016.