The April-June quarter started on a soft note for Nifty with a sub 5% growth in profit after tax (PAT). This has led to a 2% earnings downgrade from Nuvama versus its earlier estimates of 15%. Cyclicals such as autos, industrials and metals faced earnings cuts while the same stabilised for IT and FMCG packs. … Read more
The corporate earnings scorecard for 4QFY24 has been in line so far. The earnings spread has been decent, with 70% of our Coverage Universe either meeting or exceeding profit expectations. However, growth has primarily been led by the BFSI and Automobile sectors. The earnings growth was fuelled by the domestic cyclicals, such as BFSI and … Read more
The 3QFY24 corporate earnings ended on a strong note, with widespread outperformance across aggregates, driven by continued margin tailwinds. Domestic cyclicals such as Autos and Financials, along with global cyclicals (i.e., Metals and O&G) drove the beat. Technology posted a marginal decline in earnings, its first in 26 quarters. The aggregate earnings of the MOFSL … Read more
