Nifty100

Adani Green, Nykaa, APSEZ among firms with maximum cut in TPs in Jan-March 2023, shows Bloomberg data. Canara Bank, JSW Steel and Bank of Baroda have seen highest increase in TPs

2022 INERTIA Weak returns from minority allocation in small- and mid-caps, limited Adani exposure

The Nifty Smallcap 100 Index rose 4.9 per cent. By comparison, the Nifty50 Index rose 3.5 per cent and the Nifty Midcap 100 soared 6.2 per cent

17 of 37 schemes beat index's returns of -6.4%, but only 3 were positive

Factoring in the likely disruption due to the introduction of the goods and services tax (GST), the Street had lowered its estimates for the June quarter (Q1) earnings.Yet, to the surprise of investors, the performance of more than six out of 10 CNX Nifty100 companies fell short of even these reduced estimates. What's more, there are an equally large number of companies that saw their earnings estimates lowered. And analysts say there could be more bad news.To begin with, only 40 per cent of the companies in the Nifty100 universe managed to meet or outperform Street expectations. Sun Pharma, Emami, Dr Reddy's Laboratories, GlaxoSmithKline Pharmaceuticals and Hindalco are among the companies whose Q1 earnings were significantly short of expectations. A deeper reading of the numbers suggests that much of the underperformance was because of sectors such as pharmaceuticals; banks, including non-bank finance companies; heavy engineering; and automobiles. The outperformers, which included ..