Abstract: We analyzed consensus earnings revisions for MSCI India index constituents for August 2026, with the index 2027E EPS declining -1.6% month on month to 134.0 from 136.2, while the index itself fell -0.68% to 2,951. Of 144 stocks reviewed, 74 saw upward EPS revisions versus 70 downward, with individual stock EPS changes attributing -₹0.254 to the index EPS. The largest negative index EPS impacts came from HDFC Bank (-₹0.40), Axis Bank (-₹0.36), ICICI Bank (-₹0.32), and Reliance Industries (-₹0.30), while Hindalco Industries was the top positive contributor (+₹0.20, stock EPS +7.8%). At the stock level, Grasim Industries led EPS upgrades (+17.0%), followed by Bosch (+12.7%) and Lenskart Solutions (+10.1%), while Adani Enterprises saw the sharpest EPS cut (-28.8%), followed by Tata Motors Passenger Vehicles (-13.0%) and Indian Oil (-11.7%).
Hindalco Industries, Bosch, Tata Motors, GMR Airports, Tata Steel, Grasim Industries
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