Abstract: We analyzed the consensus EPS revisions of NIFTY 50 component stocks for April 2026, estimating the index's 2027E EPS at 1,232 as of end-April, up 0.48% month-on-month from 1,227 in March, while the NIFTY index itself rose 7.5% over the month from 22,331 to 23,998. Individual stock EPS revisions attributed a net -₹11.0 to index EPS, with 14 stocks revised up and 34 revised down. The largest positive index EPS contributor was Tata Motors Passenger Vehicles (+₹16.4, driven by weighting change from index inclusion), while the largest detractors were HDFC Bank (-₹2.23, EPS -1.1%), InterGlobe Aviation (-₹2.22, EPS -22.5%), and Reliance Industries (-₹2.17, EPS -2.1%). At the stock level, the steepest EPS cuts were in InterGlobe Aviation (-22.5%), JIO Financial Services (-14.7%), UltraTech Cement (-10.2%), and Maruti Suzuki India (-7.3%), while Adani Enterprises (+3.3%), Nestle India (+3.1%), and Tech Mahindra (+2.8%) led EPS upgrades.
Adani Enterprises, JIO Financial Services, InterGlobe Aviation, Nestle India, Tech Mahindra, Oil & Natural Gas
A monthly review of consensus earnings revisions for NIFTY constituents. Each issue estimates how the index's forward EPS changed over the month, and tabulates the stocks with the largest impact on index EPS alongside their EPS and revenue revisions. All issues of Index Earnings Revision Monthly →
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