"Top line and PAT of Nifty companies are estimated to grow 3 per cent and 2 per cent YoY, respectively. Jay Bharat Maruti clocked 11.67 per cent YoY drop in June quarter profit on a 7 per cent drop in net sales. The stock is down 12 per cent month to date.NIIT Technologies, Infosys, Bharat Bijlee, Network 18 Media, Mastek and Wipro have fallen up to 9 per cent this month amid less-than-expected quarterly numbers. We now expect Sensex EPS to post 12.3 per cent growth in FY17 and 24.2 per cent growth in FY18," said brokerage Motilal Oswal Securities.Sensex's price-to-book value at 2.6 times too is near the 10-year average of 2.7 times. "We have revised our FY17/18E Sensex EPS downwards by 1.7 per cent/0.9 per cent to Rs 1,493/1,854 from 4QFY16 review.

Source: Economic Times July 21, 2016 09:45 UTC