Ripples advisory, Over 50% stocks in Morgan Stanley coverage outperform Sensex post their Q4 earnings
The earnings beat ratio stood at 53 percent, while relative stock performance, which is the proportion of Morgan Stanley coverage stocks that outperformed the Sensex a day before and after the results, stood at 58 percent.
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After a spell of lacklustre earnings, Indian Inc reported earnings, majority of which were ahead of analyst expectations. A Morgan Stanley report said early indicators suggest topline growth was ahead of expectations, while bottomline growth was inline.
A quarter of Morgan Stanley's covered companies in India have reported revenue and net profit growth of 18 percent on a year-on-year (YoY) basis and three percent YoY, respectively. This translates in a revenue growth beat of five percentage points but a net profit growth miss of six percentage points versus Morgan Stanley’s expectations.
Excluding Axis Bank, net profit growth was 12 percent YoY, broadly inline with its expectations. In totality, more than half of the companies have reported earnings ahead of its estimates.
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