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Informist, Tuesday, Jul. 7, 2026

--Nuvama estimates Nifty 50 Apr-Jun earnings to grow 9% on year 
--Nuvama says West Asia war likely to hurt Apr-Jun earnings of Indian cos 
--Nuvama says Q1 margins to take a hit on higher input costs

MUMBAI – Cumulative profits of Nifty 50 companies are expected to rise 9% on-year in the June quarter and by 14% in 2026-27 (Apr-Mar), according to Nuvama Institutional Equities. The impact of the war in West Asia is likely to affect the first half of FY27, with margins seen taking a hit due to higher input prices. In the second half of the financial year, focus is expected to shift to top-line growth, the brokerage said. 

In the second half of FY27, demand-related risks could rise, Nuvama said. The benefits of recent tax cuts and a low base are fading, while risks from El Nio are likely to rise, the brokerage said. These factors may lead to cuts in its earnings per share estimates for companies in FY27 with a defensive bias, it said. 

Excluding oil marketing companies, Nuvama forecasts the cumulative profit of the companies in its coverage to grow around 12% on year in the June quarter, while sales are estimated to increase 17% on year. "This is encouraging, but is partly influenced by the war-led supply shock and low base," the brokerage said.  More