Market resilience in a pill: Pharma's formula for Q3 earnings upgrades

Rx for returns: Pharma firms' dominance in market recovery prescription

Pharmaceutical firms dominate the list of National Stock Exchange Nifty companies with the highest earnings upgrades after the announcement of the 2023–24 (FY24) October–December quarter (third quarter, or Q3) earnings.

On the other hand, information technology (IT), fast-moving consumer goods, and banking stocks dominate the list of downgrades.

The 2024–25 (FY25) earnings estimates for Cipla, Dr Reddy’s Laboratories, and Sun Pharmaceutical Industries have been upgraded by 8.2 per cent, 4.6 per cent, and 3.7 per cent, respectively.

HCLTech is an outlier in the IT pack with a 3.8 per cent earnings growth.

LTIMindtree, ITC, Hindustan Unilever, Axis Bank, and IndusInd Bank have seen their