Nifty 50 companies may see V-shape recovery in Q2; Bharti Airtel, ICICI Bank, Axis Bank to HCL Tech, see what is in store

A brokers' poll suggests that many companies are likely to report better results for the Quarter ended 30 September. This will likely be a positive trigger for the markets and aid the upward movement of markets. Zee Business’ Varun Dubey has a detailed report on this! 

Dubey said that the recovery will likely be V-shaped and be much better than expectations. A few brokerage houses in their reports have suggested that the profits of all the Nifty 50 companies for the September quarter will fall by only 6.5 per cent as against the fall reported over the last two quarters where the fall was by as much as 50 per cent, he added. 

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निफ्टी 50 कंपनियों के सितंबर तिमाही नतीजों में आएगी V-शेप रिकवरी! #Nifty50 #ResultsOnZee @AnilSinghvi_ @VarunDubey85 pic.twitter.com/b60f6j1ypo

— Zee Business (@ZeeBusiness) October 9, 2020

While other NSE companies may see a similar trend, this phenomenon will likely be there in the Nifty-50 companies, Dubey said. 

Out of the 50 companies, 33 may see a rise in their profits while 15 could see a fall.  

He also said that the investors should keep an eye on the results of Bharti Airtel which may see a profit of over 24 per cent during the Q2 FY21. 

The other companies which may see profit growth would be ICICI Bank, Axis Bank, HCL Technologies. The companies which could see a dip in profits include Tata Motors, ONGC, Bajaj Finance and ITC. 

He further said that the incomes are also likely to go up for many companies including HDFC Life, Hero MotoCorp, Maruti Suzuki and Britannia. The companies which may take a hit in their incomes include ONGC, Reliance Industries and GAIL.  

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Dubey reiterated that the results in Q2 quarter would see a V shape recovery in comparison to the Q1 quarter.