Foreign brokerages cut India Inc’s earnings, index targets

Foreign broking major Goldman Sachs has cut the Nifty target to 25,900 points from 29,300 points earlier while Citigroup has revised down their target for the index to 27,000 points from 28,500 points earlier. On its part, HSBC said that historical trend shows that a 20% rise in oil price could drag down earnings of India Inc by 1.3 percentage points.

Key takeaways

Quick scan — what you need to know:

• Foreign broking major Goldman Sachs has cut the Nifty target to 25,900 points from 29,300 points earlier while Citigroup has revised down their target for the index to 27,000 points from 28,500…
• On its part, HSBC said that historical trend shows that a 20% rise in oil price could drag down earnings of India Inc by 1.3 percentage points.
• Since the war started crude oil prices are up about 50-55%.

Background

What led here, in plain terms:

• On its part, HSBC said that historical trend shows that a 20% rise in oil price could drag down earnings of India Inc by 1.3 percentage points.
• Since the war started crude oil prices are up about 50-55%.

Why it matters

Why readers and decision-makers should care:

• Since the war started crude oil prices are up about 50-55%.
• Foreign broking major Goldman Sachs has cut the Nifty target to 25,900 points from 29,300 points earlier while Citigroup has revised down their target for the index to 27,000 points from 28,500…
• On its part, HSBC said that historical trend shows that a 20% rise in oil price could drag down earnings of India Inc by 1.3 percentage points.