“A quarter of the Sensex companies are expected to a show a drop in profits. This is in-line with our view that earnings will recover gradually and show sharp growth from H2FY16,†says Jyotivardhan Jaipuria, Bank of America Merrill Lynch.
Over the past week, the stock market benchmark Sensex lost 530.66 points or 2.5% to 20,666.15. While TCS, RIL, ITC, ONGC, CIL, HDFC Bank, Bharti, HUL and HDFC saw losses in their market value, Infosys on the other hand made gains.
The combined market capitalization of top seven Sensex companies fell by Rs 19,398 crore last week, led by software companies TCS and Infosys which together took a hit of Rs 9,969 crore.
Angel Broking has come out with its market strategy report - June 2012. According to the research firm, for FY2013, corporate earnings are expected to be aided at the revenue level.
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