Nifty cos set for robust Q1 show; IT majors, banks & Bajaj Auto to lead earnings growth
MUMBAI | NEW DELHI: Bajaj Auto, Axis Bank and miner Sesa Goa will lead the S&P CNX Nifty companies’ June quarter earnings rise by a fifth and a 26% surge in sales, validating Reserve Bank of India governor Duvvuri Subbarao’s belief that the economy is still humming. Profits of companies in the most-tracked index may rise, but their profitability is poised to shrink due to higher raw material prices, wages, and increased funding costs, an analysis by ET Intelligence Group shows.
Technology companies led by Tata Consultancy Services and HCL Technologies , which are enjoying abundant order flows from the US and Europe, would contribute to growth numbers. Domestic demand will drive earnings at Bajaj Auto and lender HDFC Bank .
Among the worst hit may be state-run oil companies as they partly subsidise petroleum products consumption, including cooking gas. A fall in cement prices due to slackening construction and price competition in telecom services may result in these companies reporting a fall in profits. For more visit: Economic times.
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
