印度市场呈现复苏迹象,Q2收入强劲,估值稳定,以及改革驱动的增长前景。 Indian markets show recovery signs with strong Q2 earnings, stable valuations, and reform-driven growth outlook.

印度股市基本面与去年相比有所改善, 尼菲公司的第二季度财年收入符合预期, 销售额高出9%, EBITDA高出8%, PBT和PAT增长高于预期5%. Indian stock markets show improved fundamentals compared to last year, with second-quarter FY26 earnings for Nifty companies in line with expectations, driven by 9% sales, 8% EBITDA, and 5% PBT and PAT growth—above estimates. 收入削减有所减缓,估值仍然合理,为收入的21.4倍,接近长期平均值。 Earnings cuts have moderated, and valuations remain reasonable at 21.4 times earnings, near the long-term average. 虽然煤炭印度公司、轴心银行和印度联合利华公司等公司业绩不佳,但总体结果表明可能出现复苏。 While firms like Coal India, Axis Bank, and Hindustan Unilever underperformed, overall results signal a potential recovery. 政府改革和解决全球关税争端被视为关键的增长催化剂。 Government reforms and resolution of global tariff disputes are seen as key growth catalysts. 尽管中值和中值和小值估值上升,但Motilal Oswal仍然将重点放在高定罪股票上,期望收入增长加快和支持进一步市场收益。 Despite elevated mid- and small-cap valuations, Motilal Oswal remains focused on high-conviction stocks, expecting earnings growth to accelerate and support further market gains.