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With the earnings season underway, 21 of the 34 Nifty 50 companies that have so far announced quarterly results have missed analysts’ estimates, while 12 have beaten or met, according to data compiled by Bloomberg.
“Raw material cost inflation is impacting margins,” Jefferies India analysts Mahesh Nandurkar and Abhinav Sinha wrote in a note dated yesterday. They downgraded earning estimates for the year through March 2022 for more than half of the 58 Indian companies under their coverage that have reported earnings so far.
Shares of Unichem Laboratories Ltd. rise most in more than three months after the U.S. FDA approves the Mumbai-based company’s application for a generic drug used in the treatment of depression.
Bosch India reported net income for the fourth quarter that beat the average analyst estimate.
Key Appointments
Shares of the search engine operator for different business categories climbed as much as 14.5% as its relative strength index slipped below 30, a level that some traders read as oversold.
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TCI Express Q4 Review - Margins Continue To Expand: ICICI Securities
Indian sovereign bonds are largely steady ahead of the central bank’s Rs 35,000 crore of government debt purchases.
IEX Q4 Review - Robust Performance, Volumes To Grow In Double Digit in Medium Term: ICICI Direct
“Raw material cost inflation is impacting margins,” Jefferies India analysts Mahesh Nandurkar and Abhinav Sinha wrote in a note dated yesterday. They downgraded earning estimates for the year through March 2022 for more than half of the 58 Indian companies under their coverage that have reported earnings so far.
Sovereign bond traders will wait for the cutoffs at RBI’s Rs 35,000 crore purchase of debt for indications of its market intent.
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