Shares of Tata Steel, Bajaj Auto and Larsen & Toubro (L&T) traded higher on Wednesday ahead of their fourth quarter earnings announcement.

Here’s what you should know ahead of earnings announcement:

Bajaj Auto: The two-wheeler maker’s Q4 net is expected to rise 29 per cent to Rs 804 crore, while sales growth is seen up 14 per cent at Rs 5,256 crore, according to brokers polled by NDTV Profit. Bajaj Auto’s sales volume is expected to rise 12 per cent in the March quarter. Bajaj Auto had reported a net profit of Rs 621 crore on sale of Rs 4,623 crore in the corresponding quarter of last fiscal. Bajaj Auto’s EBITDA or operating margin is seen rising nearly 300 basis points to 20.6 per cent in Q4 compared to 17.7 per cent in the year-ago quarter. Bajaj Auto’s realisation (average selling price) is expected to fall 2 per cent year-on-year.

Larsen & Toubro: The infrastructure major is likely to report 6 per cent decline in its net profit at Rs 1,950 crore on the back of weak order inflows, according to brokers polled by NDTV Profit. L&T received order worth Rs 34,809 crore in the March quarter, down 12 per cent year-on-year. L&T’s revenue is seen rising 8 per cent to Rs 30,248 crore, which is sharply lower than the 15-20 per cent revenue growth guided by the management earlier. L&T’s EBITDA is likely to grow 9 per cent to Rs 3,925 crore in Q4, while its EBITDA margin is seen nearly flat at 12.9 per cent. Investors will closely track L&T’s earnings for management’s guidance for FY17 and its outlook on the hydrocarbon and heavy engineering business.

Tata Steel: India’s biggest steel producer is likely to report a net profit of Rs 757 crore on sales of Rs 9,925 crore in the March quarter. Tata Steel had reported a net profit of Rs 814 crore on sales of Rs 10,522 crore in the corresponding quarter of FY15. Tata Steel’s EBITDA is seen growing 14 per cent to Rs 1,916 crore in the March quarter on the back of strong performance of its India business. Tata Steel’s India business’ EBITDA/tonne (a profitability metric) is likely to grow 19 per cent sequentially to Rs 7,327 in March quarter from Rs 6,172 in the December quarter. However, Tata Steel’s Europe business is expected to weigh on its overall performance on the back of poor demand environment. Tata Steel is expected to report an EBITDA/tonne loss of $35 for its Europe business.

As of 12.04 p.m., Tata Steel shares traded 1.46 per cent higher at Rs 322.35, while L&T and Bajaj Auto shares traded 2.48 per cent and 1.3 per cent higher at Rs 1273.50 and Rs 2,410.35 respectively. In comparison the broader Nifty traded 1.82 per cent higher.