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IDBI Capital Report
We expect mix set of earnings in the upcoming quarterly season with more hits than misses. Sector wise; auto, banks and fmcg is expected to post result better than our estimate and weak number is expected from metal, cement.
On positive side, commodities have seen weakness which could have positive bearing on margin and management commentary. At macro level, high frequency indicator like goods and services tax collection, power demand, purchasing managers index has been healthy.
In the previous quarter, Nifty-50 earnings per share of FY23E of Rs 846 is largely maintained and thus we need to watch the trend in the upcoming quarterly result season.
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