The Q2FY24 earnings of Nifty 50 companies have been in line with expectations, with domestic cyclicals fueling growth, according to Motilal Oswal Financial Services.
The healthy earnings growth for Sun Pharma was aided by strong global specialty sales and an industry-beating performance in the domestic market even as US sales faltered sequentially.
Vinit Sambre, head of equities at DSP Mutual Fund, says Q2 earnings of Indian companies have been in line with estimates, but downside risks may materialize if consumer demand and the IT sector remain weak.