Ahead of Q2 results, SAIL shares rise 7% to reach a new 52-week high.

On Wednesday, October 29, Steel Authority of India Ltd. (SAIL) shares surged more than 7% to reach a new 52-week high ahead of their second quarter earnings. According to a CNBC-TV18 survey, SAIL's operating revenue increased by 0.6% to ₹24,822 crore in the September quarter from ₹24,675 crore in the same period last year. Margins are predicted to drop to 8.04% from 11.81%, while operating profit is predicted to drop 32% year over year to ₹1,995 crore from ₹2,913 crore. According to the poll, net profit is predicted to drop precipitously by 85% to ₹136 crore from ₹897 crore. According to The Street, SAIL's margins will drop from 11.81% in the same period last year to 8.04%.