Cyclicals To Drive Q3 Earnings, Another Upgrade In FY21/FY22 Nifty EPS, Says Motilal Oswal 
A pedestrian looks on while an electronic stock board displays a graph. (Photographer: Kiyoshi Ota/Bloomberg)

Cyclicals To Drive Q3 Earnings, Another Upgrade In FY21/FY22 Nifty EPS, Says Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

As we enter CY21, the backdrop to the market and corporate earnings has evolved considerably in the last three months.

After a good 9%/15% run-up in Nifty/NSE Midcap 100 in Q2 FY21, these indices have rallied 24%/23% in Q3 FY21, led by corporate earnings, supportive liquidity conditions, low interest rates, and a sharp spike in foreign institutional investor inflows in November and December 2020.

Opening up of the economy, 80% reduction in active Covid-19 cases since September 2020, and strong high frequency macro data have lifted sentiment.

Recent approvals for the Covid-19 vaccines have provided a booster shot to the Indian market, which has since then been on steroids, with a much broader participation from mid-caps and small-caps.

Click on the attachment to read the full report:

Motilal Oswal India Strategy Q3FY21 Earnings Preview.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.