India’s earnings season: big picture fine, details less so | beyondbrics:
"Indian markets have been upbeat of late. Investors appear to have put concerns over liquidity and EM currencies behind them, while many expect a stable government to emerge after this year’s general election.
As the country’s earnings season begins on Friday the upbeat mood is expected to continue, with analysts at Bank of America Merrill Lynch expecting profits to rise 22 per cent year-on-year for Sensex listed companies on a consolidated basis.
Before labelling this a turning point however, analysts at the bank point out that just five companies are responsible for almost 70 per cent of that growth, and that profits are expected to drop for six of the 30 companies included in their calculations."
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