2 stocks that may contribute 65% of incremental Nifty earnings in Q1

Motilal Oswal said, excluding the two companies, net profit for Nifty50, as a pack, may grow 13 per cent YoY in the June quarter. Including them, Nifty50 earnings for the quarter may rise 31 per cent YoY.

“These two companies contribute 65 per cent to Nifty’s incremental earnings,” said Motilal Oswal. The brokerage is expecting sales for Nifty50 to grow at 35 per cent, Ebitda at 19 per cent and profit before tax at 29 per cent. Kotak said it sees Nifty50 profit growing 27 per cent YoY but down 11 per cent sequentially.

This brokerage said

may report a 98.7 per cent YoY rise in net profit at Rs 24,390.60 crore on a 67.6 per cent YoY rise in net sales at Rs 2,34,500 crore.

It sees ONGC reporting a 235.20 per cent YoY rise in net profit at Rs 14,531.60 crore. Sales are seen rising 96.3 per cent YoY to Rs 45,182 crore.

If not for the recent imposition of windfall tax and export duty in the oil and gas sector, said Motilal Oswal Securities, there might have been an earnings upgrade in FY23 EPS.

Among other brokerages, sees Reliance Industries’ Q1 profits rising 89.8 per cent YoY to Rs 23,288 crore on a 61.2 per cent YoY rise in sales at Rs 2,25,590 crore. This brokerage anticipated 82 per cent YoY growth in O2C Ebita, largely driven by robust refining offset by modest petchem.

This brokerage sees ONGC’s profit surging 190.90 per cent YoY to Rs 12,611 crore. It sees revenues climbing 89.3 per cent YoY to Rs 43,571 crore.

Emkay Global said Reliance should post strong earnings growth, led by O2C (refining bump-up) and upstream gains. Retail should also continue to witness recovery while Jio’s earnings would be led by

ARPU growth, it said, while pegging RIL profit at Rs 25,504 crore, up 107.80 per cent. It sees ONGC’s quarterly profit at Rs 13,541 crore, 212 per cent YoY.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)