Q2 FY23 Earnings Review - Marginal Beat In A Tough Backdrop: Motilal Oswal
Corporate earnings for Q2 FY23 were better than our expectations, despite several headwinds, with financials driving the quarter.
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 Q2 FY23 were better than our expectations, despite several headwinds, with financials driving the quarter once again.
The spread of earnings has been decent with 66% of our universe either meeting or exceeding profit expectations.
Markets have bounced back smartly and wiped out the entire year-to-date’CY22 decline. The Nifty is now up ~6% ytd-CY22.
With this rally, Nifty now trades at 22 tmes FY23E, comfortably above the LPA and offers limited upside in the near term, in our view.
We reckon the upside from hereon will be a function of stability in global and local macros and earnings delivery.
In our model portfolio, we maintain our overweight stance on banking, financial services and insurance, auto, consumer and IT and undeweight stance on energy, pharma and utilities.
Click on the attachment to read the full report:
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.