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IDBI Capital Report
In Q3 FY23, we expect healthy set of performance for banks led by loan growth and net interest margins. Cement and metal is expected to report improved margin on QoQ as energy costs is weakening.
Building construction companies with strong order book is expected to report mid to high teen growth in Q3 FY23.
In IT, Q3 is a seasonally weak quarter mainly due to higher furloughs and management commentary needs to be watch given weak economic scenario in the West.
At macro level in India, high frequency indicator like goods and services tax collection, power demand, Purchasing Managers' Index continues to report healthy set of numbers.
As we are entering Q3 FY23 result season, consensus Nifty-50 earnings per share is Rs 792 for FY23E and thus we need to watch its sustenance.
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