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Early Q2 results better than expected but market rally may lose steam

EPS for Nifty50 firms has risen just 1 per cent in the month so far

Q2 earnings, Q2 results
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However, after the TCS results, the market has moved in the narrow range of 11,900-12,100 | Illustration by Ajay Mohanty

Krishna Kant Mumbai
The early-bird results have been better than expected with companies showing gains from the unlock.
 
But they have done little to shore up the Nifty50 index’s underlying earnings per share. In the first two weeks of the earnings season since Tata Consultancy Services (TCS) declared its results on October 7, the Nifty earnings per share (EPS), on a trailing 12-month basis, is up just around 1 per cent from about Rs 344 at the beginning of the current month to Rs 347 at the end of Friday.
 
Analysts say a lack of an earnings momentum in the Nifty companies could

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First Published: Oct 26 2020 | 6:05 AM IST

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