Abstract: We analyzed earnings revisions for component stocks of the MSCI India index in October 2026, where the index's 2027E EPS rose 0.35% month on month to ₹135.4. Stock-level EPS revisions contributed ₹0.380 to the index EPS change, with 78 stocks revised up versus 73 revised down. ICICI Bank was the largest positive contributor, adding ₹0.60 to index EPS on a 3.9% EPS increase, while HDFC Bank was the largest drag, subtracting ₹0.34 on a 0.7% EPS cut. Among individual movers, Hindustan Petroleum's 2027E EPS rose 75.8% and Punjab National Bank's rose 20.1%, while InterGlobe Aviation's EPS fell 37.2% and Eternal's fell 29.0%. On revenue, Grasim Industries posted the largest 2027E revenue increase at 34.1%, while NHPC saw the largest revenue decrease at 6.73%.
HDFC Bank, InterGlobe Aviation, JSW Steel, Maruti Suzuki India, Punjab National Bank, Vedanta
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