Nifty results continue to be HORRIBLE. I can’t even begin to tell you how bad the situation is, but see this today. Three Nifty companies announced results. And they were like this:
This is just serious suckage.
At this point, this is simply the worst quarter I’ve seen in recent times with respect to results and profit growth. 38 Nifty companies have announced results and this time, they’ve dropped aggregate profits by as much as 55%.
If you remove that big one timer by Sterlite (Vedanta), you still have a huge 21.1% drop in aggregate profits.
This is not a scorecard you want to see from an economy that has quoted at 20 P/E for the last year or so.
Even RBI is starting to say the worst is yet to come. Whatever happens, don’t ignore your stop losses. And remember that in such a market, investing in a consistently profitable company is probably even more important than ever before.