India enters long-awaited earnings upgrade cycle, Nifty poised for 29,000 level
MUMBAI: India appears to be entering a long-awaited earnings upgrade cycle, driven by resilient corporate performance, strong festive demand, supportive policy actions, and an improving macroeconomic environment, a report said on Wednesday.
After five consecutive quarters of downward revisions, Nifty earnings have finally reversed course, showing upgrades of 0.7 per cent, 0.9 per cent and 1.3 per cent for FY26, FY27 and FY28, respectively.
"This marks a significant shift in sentiment and establishes early but clear signals of a broad-based revival in corporate profitability," according to the report by PL Capital.
Nifty has risen 4 per cent in the past three months, breaking out of a prolonged consolidation phase.
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