Moneycontrol
Last Updated : Aug 20, 2018 12:30 PM IST | Source: Moneycontrol.com

Q1 sales growth for BSE 100 firms climbed to a six-year high of 20%: Credit Suisse

Only 14 Nifty companies missed Credit Suisse' estimates, the lowest in four years while 17 Nifty companies beat earnings estimates & 19 were in-line.

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The June quarter earnings season was in line or slightly better-than-expected and also marked a improvement over previous quarters, experts said, adding the downgrade fear is behind now.

Credit Suisse said Q1 sales growth for BSE 100 firms climbed to a six-year high of 20 percent year-on-year.

Only 14 Nifty companies missed Credit Suisse' estimates, the lowest in four years while 17 Nifty companies beat earnings estimates & 19 were in-line.

Staples, energy & materials had most beats while telecoms and healthcare were the worst, the research house said.

It further said consensus expects FY20 Nifty EPS to grow 24 percent on top of a 31 percent. "Headline growth estimates are high, but can be supported by upgrades to IT & Metals."

Credit Suisse said its preference remains for less expensive stocks like SBI, ICICI Bank, Tata Steel & L&T.
First Published on Aug 20, 2018 12:30 pm
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