- Wealth PMS
Some results are out, and all Nifty stocks would have announced their Q1 results by Aug 1. Here’s a primer:
As of now, the EPS is still 229 (of the Nifty). Bad results expected from Hero Honda, BPCL, PNB, Tata Steel, Tata Motors, M&M. Good from DLF, Unitech, RCOM, Sterlite.
Without surprises, the Nifty EPS should probably grow about 10% over last year. The current P/E is 18. At some point this stuff needs to converge. It can take years so don’t jump to buy or sell. But not looking good at all. Will revisit after August 1.