Pages

27 October 2010

India Strategy: QE Sep-10 Earnings Season thus Far :: Morgan Stanley

Bookmark and Share Visit http://indiaer.blogspot.com/ for complete details 􀂄 􀂄


India Strategy: QE Sep-10 Earnings Season thus Far



Revenue and earnings growth seem to be strong. Expectedly, the broad market is ahead of the narrow market on both parameters.

Surprise breadth is at its highest level since F1Q07. So far, 70% (23 out of 33 companies) of earnings reports have beaten MS analysts’ expectations (see slide 3 for the depth and breadth tracker).

Margin contraction is evident in five out of nine sectors.

Sensex companies rose 14% YoY (8 companies have reported, thus far), ahead of MS analyst expectations of 11% growth YoY.

F2011 earnings revisions were positive for three out of 10 sectors over the past week with Healthcare leading the pack (see slide 4 for details).

337 companies in the broad market have reported revenue and earnings growth of 22% and 27% YoY, respectively.

No comments:

Post a Comment