Motilal Oswal Securities, which expects Nifty constituents to log a 6 per cent growth in combined March quarter earnings expects HDFC Bank Ltd, ONGC Ltd, ICICI Bank Ltd, Maruti Suzuki India Ltd, Coal India Ltd and Tata Consultancy Services Ltd (TCS) are likely to drive Nifty earnings,
Tata Steel Ltd, BPCL Ltd, Reliance Industries Ltd and JSW Steel are seen dragging Nifty earnings, the brokerage said. In total, 17 Nifty companies are likely to report a profit growth of 20 per cent YoY and more. A total of 15 Nifty companies are expected to report a YoY decline in profit after tax.
Excluding oil marketing companies, Motilal Oswal pegs Nifty earnings growth at 7 per cent YoY. Excluding metals and oil and gas companies, it sees growth at 9 per cent YoY in 4QFY24. For the full financial year, MOFSL expects Nifty earnings to grow at 23 per cent.
For HDFC Bank, Motilal Oswal sees profit growing 29.90 per cent a Rs 15,700 crore. Net interest income (NII) is seen rising 24.80 per cent at Rs 29,100 crore. ONGC is seen reporting a 40.8 per cent YoY surge in profit at Rs 8,700 crore on a 3.9 per cent drop in sales at Rs 34,900 crore. ICICI Bank is seen reporting 16.5 per cent YoY jump in profit on 8.6 per cent rise in NII. Maruti Suzuki India may log 51.4 per cent YoY jump in profit at Rs 4,000 crore, Coal India 23.4 per cent rise at Rs 6,800 crore and TCS 8.1 per cent YoY rise at Rs 12,400 crore.
On the flip side, Motilal Oswal sees RIL reporting 8.9 per cent drop in profit at Rs 17,600 crore. It sees Tata Steel reporting 37.70 per cent drop in profit at Rs 1,100 crore. Here the complete list of Nifty stocks and expected earnings: