High inflation and the continuous rate hike cycle by the Central bank had put a damper on the earnings this season. K Ramanathan, chief investment officer of ING Investment Management India joins CNBC-TV18 to tell what he has made of both the earnings season as well as the trends in the market.
Below is the verbatim transcript. Also watch the accompanying video Q: We have had some serious disappointments from companies like Exide and Crompton yesterday, good ones also, Petronet LNG, Mindtree. What is the composite you are getting from companies like Crompton showing such severe fall in volumes and margins? Do you think the Sensex has priced the bad news in?A: Market today is trading at around 15 times. I feel most of the earnings expectation, earnings growth of 17% is in the price. I would say the earnings so far are been below expectations on an average. There are couple of stocks which have surprised positively significantly, but at least on the largecap space, the earnings declared so far have been in line or below expectations. So, I don
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