India Inc Q1 report card meets expectations, but can it support premium valuation?
The sharp rally in Indian equities in the past few months, which took benchmark indices to all-time highs, was primarily led by sectors such as automobiles, capital goods, and fast-moving consumer goods, while sectors such as metals and information technology lagged. While consensus estimates for Nifty50 earnings growth for FY24 witnessed a cut, it wasn’t steep enough to cloud growth prospects.
