10 Nifty cos with highest earning upgrades post Q4. Do you own any?

NEW DELHI: The earnings season is over with Nifty50 companies together reporting a 21 per cent rise in net profit on a 23 per cent rise in sales. As many as 10 index constituents reported over 5 per cent upgrades in earnings per share (EPS) estimates, 11 others saw over 5 per cent EPS downgrades.

The maximum upgrade, as per a

report, was seen in the case of BPCL, whose EPS estimate for FY23 has been upgraded by 32.80 per cent to Rs 49.60 post March quarter results. This would still mean an 4.7 per cent EPS degrowth over FY22’s Rs 52.
saw a 14.5 per cent upgrade in FY23 EPS estimate at Rs 215.20. This would be 17.2 per cent growth over FY22’s EPS of Rs 183.60 for the two-wheeler maker.



(up 14 per cent), (up 13.3 per cent) and Mahindra & Mahindra (up 11.8 per cent) are three other stocks seeing over 1o per cent earning upgrades in FY23 estimates.

Coal India,

, , and are some of the companies seeing a 5-10 per cent jump in EPS estimates for FY23.

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Net-net, Nifty50 EPS for FY23 has seen a 0.7 per cent drop at Rs 864 from Rs 870 earlier, largely due to notable downgrades in earnings of ONGC, , , and Tata Motors.

“FY24 EPS was broadly unchanged at Rs 1,002 from Rs 1,003 earlier,” Motilal Oswal said in a note.

Hindalco and Tata Motors saw over 20 per cent downgrades in FY23 earning estimates. Post March quarter results, Hindalco saw 29.4 per cent cut in FY23 EPS estimate to Rs 55.60.

Tata Motors, on the other hand, saw 21.8 per cent drop in FY23 estimate at Rs 15.30.

JSW Steel, Divi’s Labs,

, , Cipla, ONGC, , Dr Reddy’s Labs and Infosys were other stocks seeing over 5 per cent downgrade in FY23 EPS estimates.

Agencies

Table 1 BAgencies

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)

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