Market Live: Sensex extends losses, Nifty tests 11,500; auto, metals, PSU banks fall

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For the Nifty50, EPS is likely to grow by 21.5 percent aided by strong growth in financials even as telecom and consumer discretionary remain a drag, it said, adding financials is likely to be the main driver of earnings growth thereby offseting the weakness in other sectors.

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JM Financial’s Results Preview on Financial Sector

“In Q1FY20, for the 167 companies under the coverage we expect a profit growth of 19.6 percent YoY, revenue growth of 7.3 percent YoY and EBITDA growth of 6 percent YoY. Excluding financials, we expect an almost zero PAT growth YoY while excluding corporate banks (SBI, Axis, ICICI and Yes) and Tata Motors the growth is expected to be 7.7 percent YoY. Excluding financials, profitability is expected to decline with overall EBITDA margin contraction of 86bps YoY driven by chemicals, metals and auto and auto ancillary companies,” JM Financial said.

For the Nifty50, EPS is likely to grow by 21.5 percent aided by strong growth in financials even as telecom and consumer discretionary remain a drag, it said, adding financials is likely to be the main driver of earnings growth thereby offseting the weakness in other sectors.





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