Expect FY18 Nifty earnings growth at 17%, add HCL Tech: CLSA
Mahesh Nandurkar of CLSA expects FY18 Nifty earnings growth of 17 percent with small downside risk due to margin concern.
Mahesh Nandurkar of CLSA says demonetisation hit the December 2016 quarter though it turned out to be a better quarter generally for all domestic-oriented companies barring power and telecom.
Nifty earnings growth of 6 percent turned out to be a tad weaker due to a drag from Tata Motors and Axis Bank, he adds.
He now expects FY18 Nifty earnings growth of 17 percent with small downside risk due to margin concern.
Nandurkar removed ITC and Maruti from high-conviction list but added HCL Technologies.