BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Corporate earnings for Nifty and our universe were below our expectation. Miss in heavyweights such as Reliance Industries Ltd., Tata Motors Ltd. and oil marketing companies like Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd. drove the aggregate miss.
However, the spread of earnings has been decent, with 68% of our universe either meeting or exceeding our profit expectations. 14 out of 20 sectors have met/beaten expectations.
Like in 4 QFY22, profit in Q1 FY23 was entirely driven by banking, financial services and insurance, aided by a moderation in credit cost. Oil and gas dragged the aggregates while consumer, metals and cement have beaten expectations.
Metals, healthcare, and cement reported an earnings decline YoY, while IT earnings were flat in Q1 FY23.
The earnings downgrade/upgrade ratio for our universe for FY23 stands balanced as 78 companies have seen upgrades of more than 3%, while 79 companies have been downgrades of over 3%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR