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
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 →
Interested in the full report? Get in touch with our team.