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IDBI Capital Report
In the upcoming Q4 FY24 result season, For banks net interest income growth to be strong led by loan growth and net interest margin pressure to ease. Deposit growth has increased and asset quality to improve given moderation in slippages.
In IT, Q4 FY24 we don't expect upgrade as delayed decision making, slower ramp up in deals and slower deal conversion to be key hindrance. Crude is inching up and thus could impact margin for sector which are commodity consumers in FY25E.
In Q4 cement Ebitda to be weak given price cut by the company to push the volume. Overall Nifty-50 is largely range bound and is up ~3% in Q4 FY24 and trades at valuation of 20 times 12 months forward earning per share versus historical average of 18 times.
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