Q3 Earnings Review - Big Beats And Upgrades: Motilal Oswal
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Motilal Oswal Report
The Q3 FY21 corporate earnings season revved up from Q2 FY21, with big beats and upgrades reported across the Motilal Oswal Financial Services Ltd. coverage universe.
Sharp demand recovery was seen during the festive season – with the opening up of the economy and the number of Covid-19 cases being contained, coupled with continued cost-saving initiatives.
With an upgrade (more than 5%) to downgrade ratio (less than -5%) of 7:2, Q3 FY21 has been a blockbuster earnings season.
57% of the companies in our MOFSL coverage universe beat Q3 FY21 estimates, while 24% reported below-estimate results.
This has resulted in the second consecutive quarter of material upgrades for Nifty earnings per share.
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