“At the start of FY25, consensus expected Nifty50 earnings per share (EPS) growth of ~15%, but actual growth came in at only 3.4%. Similarly, at the start of FY26, earnings were expected to grow 12-15%, whereas actual growth was only 4.5% (6.9% if we assume the current reconstituted Nifty constituents),” JM Financial Institutional Securities said.
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