Nifty50's earnings per share rises 8% in 10 days after falling for 2 qtrs

The rally on Dalal Street this week has been spurred by an equally sharp turnaround in the Nifty50’s underlying earnings per share (EPS). The index EPS has risen 8 per cent in 10 days as heavyweights such as Bharti Airtel, Indian Oil Corporation, Larsen & Toubro, and ICICI Bank saw large increases in net profit during the September quarter (Q2).

Though the swing was largely because of external factors and exceptional gains and losses, it boosted the index’s headline earnings and EPS. As a result, the index EPS jumped to Rs 371 on trailing 12-months basis as of Friday from six-year