Moneycontrol News
As the earnings season for India Inc gets underway, brokerage house CLSA expects June quarter earnings to be helped by low base of GST.
Going forward, it expects Nifty earnings to grow 21 percent YoY, while pre-ex earnings growth of 5 percent is seen for its coverage.
On segments, it expects autos, consumer and media to benefit from weak GST, while telecom and cement are likely to see a sharp decline.
Oil public sector units will have large inventory gains, it said, adding that IT or pharma could gain from forex tailwinds.
Financials, on the other hand, it said will remain weak, with 90% YoY earnings decline on higher NPL provisioning, treasury losses.
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