BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Global equity markets witnessed a sharp correction since our last report with Indian markets being no exception. It was primarily driven by the elongated geopolitical conflict, consequent rise in key commodity prices namely crude, metals, agri commodities and resultant central banks action to tame unprecedented inflation.
Corporate earnings, a true barometer of economic health, on the other hand, have been quite resilient with Nifty earnings per share for Q4 FY22 coming in on broadly expected lines at Rs 207/share, up 10% QoQ and YoY.
The margin pressure for the manufacturing businesses as well as wage inflation for IT domain was successfully made good by the earnings outperformance in the banking, financial services and insurance domain on the back of better-than-expected credit growth and improving asset quality.
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