The Nifty is trading at a PE of 22.95 its trailing 12-month earnings, whereas the Nifty Midcap100 and Nifty Smallcap 100 indices are trading at PE of 36 and 27 times, respectively.
Q3 woes: Cement companies may face earnings downgrades again
Cement producers expect net profit declines in the December quarter, leading to earnings downgrades. Despite a 7-8% increase in sales volumes, revenues will remain flat.