Abstract: We analyzed consensus EPS revisions for NIFTY 50 component stocks in May 2026, estimating the index 2027E EPS at 1,235, up 0.18% month on month from 1,232 in April, even as the index fell 1.9% to 23,548. Breadth was negative, with 12 stocks seeing upward EPS revisions versus 34 revised down. On the positive side, Grasim Industries led with a 2027E EPS revision of +198%, followed by Hindalco Industries (+19.4%) and Oil & Natural Gas (+11.4%), contributing index EPS impacts of +₹2.3, +₹5.2, and +₹3.9 respectively. On the negative side, InterGlobe Aviation saw the steepest EPS cut at -12.8%, while Bharti Airtel (-4.8%) and State Bank of India (-2.0%) were the largest detractors from index EPS, reducing it by ₹2.1 and ₹1.6 respectively.
Bharti Airtel, Oil & Natural Gas, Max Healthcare Institute, Tata Motors Passenger Vehicles, Adani Enterprises, Cipla
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