Results today (Nifty stocks only):
- ONGC shows an EPS growth of 50%. Bumps up nifty EPS as it has a huge weightage in the Nifty.
- LT gives major bhaav and shows EPS growth of 41.46%.
- Sunpharma shows an EPS growth of 120% (!)
- BPCL goes from EPS of +6.6 to -28.45. I have no idea how bad that is but BPCL is only 0.44% of the Nifty.
- HDFCBank’s EPS is up a whopping 8%. I was thinking it will be a drop in EPS so this is actually quite good.
- Hindalco does 13%.
- Tata Comm (VSNL) shifts results out to 30th. Bad news there?
Nifty EPS has now moved to Rs. 238. It was 220 as of Aug 1, 07 – which means for a 10% growth (please, at least 10%!) we need to go to Rs. 242. The remaining stocks account for 28.65% of the Nifty – and as of now, not considering them, the Nifty has grown 11.62% on EPS. P/E is still 18.