06 August 2011

India Strategy Weekly Earnings Tracker:: Morgan Stanley Research,

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India Strategy
Weekly Earnings Tracker


Summary of changes to earnings estimates:
•  This week, the F12 Sensex EPS by MS analysts stood
at 1311 vs. consensus expectations of 1298.
•  Over the past week, consensus revised up the F12
growth estimate by 0.3ppt while MS analysts revised
down growth by 0.4ppt. Over the past month, MS
analysts have revised down the F12 earnings growth by
1.5% vs. 0.9% by consensus.
•  At the sector level, consensus revised growth estimates
down in 7 out of ten sectors in the past month with
Materials seeing the most downward revisions and
Consumer Staples most upward revisions. Consensus
remains most negative on Telecoms and most positive
on Industrials in terms of F12 growth expectations.
•  During this week, the 1- and 2-year forward earnings
breadth fell to a 4-month low – at -17.3% and -16.4%,
respectively.


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