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Results: Bad for Nifty EPS, Mixed bag though

2 comments Written on July 26th, 2008 by
Categories: Commentary, Results
Some results are out, and all Nifty stocks would have announced their Q1 results by Aug 1. Here's a primer: Bad Stuff:
  • ICICI Bank down 24% on EPS. (Yeah they raised capital but so what)
  • SBI down 26% on EPS. (Also raised capital, again, so what)
  • Dr. Reddys down 50%, and Ranbaxy down 43% - bad, bad, bad.
  • Cement unhappy: ACC and Ambuja down 22 and 34%, Grasim up 0.3%. Not good.
  • Tata power down 18%.
  • Maruti down 6.7%. Indicative of auto results?
Good stuff:
  • Bharti up 52%
  • BHEL up 33%
  • Infy, Wipro, and Satyam: 20, 34 and 44% respectively.
  • ZEE Media: up 100%
  • ABB up 21%.
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.

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This entry was posted on Saturday, July 26th, 2008 at 8:45 PM and is filed under Commentary, Results. You can subscribe to any comments to this entry via RSS 2.0. You can leave a response, or trackback from your own site.

About the Author: Deepak Shenoy
http://www.capitalmind.in
The man behind Capital Mind. Deepak is a co-founder at MarketVision, a financial knowledge company in Gurgaon. He also provides data research and consulting services in the financial markets space. Connect with him at deepakshenoy@gmail.com.

2 comments “Results: Bad for Nifty EPS, Mixed bag though”

>Maruti had already declared result (you are saying – yet to)..dismal by all accounts, I mean Maruti’s

Crick_Love
07.27.08 at 4:21 AM
Permalink Reply

>Crick: Good catch, thanks! I have fixed the post.

Deepak Shenoy
07.27.08 at 6:40 AM
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