2 days ago
Titan, SBI Lead August Earnings Upgrades Across Nifty Stocks
JM Financial studied how analysts changed their profit forecasts for Nifty 50 companies.
In August 2026, forecasts improved for 23 of the 50 companies.
Grasim Industries had the biggest increase in expected FY27 profits.
Bajaj Finserv, Hindalco Industries, State Bank of India and Titan Company were also among the biggest beneficiaries.
Overall, expected Nifty 50 profits rose slightly for FY27 and FY28.
This was a change from July, when both forecasts had fallen.
Cement companies had the strongest sector-wide improvement.
Consumer and automobile companies saw their expected profits reduced.
However, forecasts were still lower than they had been a year earlier.
JM Financial upgraded FY27 earnings-per-share estimates for 23 of 50 Nifty companies in August 2026.
Grasim Industries, Bajaj Finserv, Hindalco Industries, State Bank of India and Titan Company received the largest FY27 EPS upgrades.
Nifty 50 FY27 and FY28 EPS estimates rose 0.1% and 0.2% month-on-month in August.
Cement led sector upgrades at 9%, followed by NBFCs at 1.8%, and oil and gas and metals and mining at 0.5% each.
Consumer and automobile stocks faced the biggest sector cuts, at 4.7% and 2.2%, respectively.
- Who
- JM Financial and analysts covering 50 Nifty companies.
- What
- The brokerage revised FY27 and FY28 earnings-per-share estimates, upgrading 23 Nifty companies and cutting estimates for others.
- Where
- The Nifty 50 index and its constituent sectors and companies.
- When
- August 2026, compared with July 2026 and the previous 12-month period.
- Why
- The revisions reflected changing expectations for company and sector earnings.
Key facts
- Companies with FY27 upgrades
- 23 of 50 Nifty companies, or 46%, received upgrades in August 2026.
- Nifty FY27 EPS change
- Up 0.1% month-on-month in August 2026.
- Nifty FY28 EPS change
- Up 0.2% month-on-month in August 2026.
- Largest company upgrades
- Grasim Industries, Bajaj Finserv, Hindalco Industries, State Bank of India and Titan Company.
- Leading sector upgrade
- Cement, with a 9% month-on-month increase in FY27 EPS estimates.
- Largest sector cuts
- Consumer stocks fell 4.7% and automobiles fell 2.2% in FY27 EPS estimates.
- Longer-term trend
- From August 2025 to August 2026, FY27 and FY28 Nifty EPS estimates declined 9.3% and 7.5%.
Quotes
JM Financial
Brokerage firm whose August 2026 Nifty 50 analysis is discussed
“Stocks with the biggest EPS cuts were ITC, Tata Steel, Kotak Mahindra Bank, Maruti Suzuki and Adani Enterprises, whereas those with the largest upgrades were Grasim, Bajaj Finserv, Hindalco, SBI and Titan.”
financialexpress.com
“Key sectors that witnessed over 1% cut in FY27E EPS MoM are: i) Consumer (4.7%); and ii) Automobiles (2.2%).”
financialexpress.com
Sources
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