More hits than misses spur most upgrades in six quarters, shows data

The Street is now expecting Nifty earnings per share (EPS) of around Rs 980 in FY24 and Rs 1,130 in FY25

Samie Modak Mumbai

Listen to This Article

More companies managed to surpass analysts’ estimates during the March 2023 quarter of the 2022-23 financial year (Q4FY23) – spurring the best percentage of upgrades vis-à-vis downgrades since Q2FY22.
“Of the 63 March 2023 quarter results we analysed from our coverage universe, 49 per cent came above analyst estimates, highest in four quarters, while 37 per cent came below. The remaining 14 per cent were in line. Earnings upgrades (at 49 per cent) were the same as earnings downgrades (49 per cent); though upgrade percentage is highest in the past six quarters,” said Jefferies in a note.
However, due to disappointing results by IT majors, the projected Nifty50 earnings for FY24 and FY25 got scaled back slightly. “Nifty50 consensus earnings for FY24/25 have seen change of -1.1 per cent/-1.2 per cent during the results season. On the year-to-date basis, earnings are flat thus far and bulk of the

Also Read

O2C segment may drive RIL's Q4FY23 revenue; retail, telco stable: Analysts

Improving outlook, upgrades to keep wheels turning for auto companies

TCS Q4 Preview: Revenue may rise up to 18% YoY; EBIT margin seen at 25%

In a first, Softbank-backed OYO turns cash flow-positive in Q4FY23

Adani Wilmar reports 60% fall in net profit in Q4FY23, revenue up 7%

BSE, NSE to remove 3 Adani Group stocks from ASM framework on Monday

In a first, Sebi mulls rules for fractional ownership in real estate

Novelis' disappointing Q4 suggests near-term weakness for Hindalco stock

Sebi cancels Bharat Bhushan Finance and Commodity Brokers registration

Adani-Hindenburg: May grant Sebi a three-month extension for probe, says SC

First Published: May 12 2023 | 11:15 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to