Nifty Q4 FY26 Earnings: BHARTIARTL, JSWSTEEL, HDFCBANK Lead Growth

The Nifty 50 recorded a 5% year-on-year EPS growth for FY26, reaching ₹1,065, marking the second consecutive year of single-digit expansion. Notably, five key Nifty constituents – Bharti Airtel, JSW Steel, HDFC Bank, Infosys, and Tata Consultancy Services – were responsible for 75% of this incremental earnings accretion.

This data highlights a concentrated earnings growth within the Nifty 50, indicating that while the headline EPS growth is modest, a significant portion is driven by a select few large-cap companies. This suggests that the broader market, beyond these five, might be experiencing more subdued earnings, which could lead to divergence in stock performance.

Stocks like BHARTIARTL, JSWSTEEL, HDFCBANK, INFY, and TCS are likely to see continued investor interest due to their strong earnings contribution, potentially supporting their valuations. Conversely, other Nifty constituents not among these top five might face pressure if their individual earnings growth remains weak. The banking sector, particularly HDFC Bank, shows resilience in earnings despite recent market dips for the sector.

Traders should monitor the earnings trajectory of these five key contributors for sustained performance. Also, observe the earnings reports of other Nifty companies to gauge the breadth of market recovery. Any signs of broader earnings improvement beyond these few names would be a positive signal for the overall market.

• •Nifty EPS for FY26 ended at ₹1,065, up 5% YoY.
• •This marks a second consecutive year of single-digit growth for Nifty EPS.
• •Five Nifty companies (Bharti Airtel, JSW Steel, HDFC Bank, Infosys, and Tata Consultancy Services) contributed 75% of the incremental YoY accretion in earnings.
• •Risk flag: Continued pressure on Nifty Bank due to broader market sentiment.
• •Risk flag: Potential for increased deposit pricing impacting NIMs for some banks.