As of 15th November 2019, all the nifty companies have reported their earnings for the September quarter. The Nifty 50 earnings have shown positive results and have helped the market to stay upbeat. On year-on-year basis (from Q2 FY 2019 to Q2 FY 2020), Nifty 50 earnings – Q2 FY20 have appreciated close to 29%.
Current PE Valuation of the Nifty 50 = 27.38 (14th November 2019)
The reduction in corporate tax has largely resulted in better-than-expected profit delivery.
Top Losers – Bharti Airtel, Mahindra & Mahindra, Tata Motors, Indian Oil, Axis Bank
Top Gainers – Grasim Industries, Dr. Reddy, HDFC, SBI
Nifty 50 Earnings – Q2 FY 2020