Revenue trend across all sectors companies should see a substantial decline. Sharpest decline is expected in case of Real Estate, whereas Offshore Service Providers should see maximum gains.
Operating profit and net earnings trends for the quarter are mixed we expect real estate, banking and telecom to report substantially below trend. Consumer (non-discretionary) and Oil and Gas (Reliance and Offshore services) should be above recent trend.
Mid cap Stocks under coverage largely are expected to report sales and profitability better than previous quarter.
Key sectors where we are below consensus in case of earnings are Telecom (largely on account of RCOM), Real Estate. In case of sectors such as Banking, Consumer (Non-Discretionary) and Oil and Gas (Reliance and Offshore) we are in-line or above consensus. Reliance expected to be above consensus.
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