Disappointed stock market bulls find comfort in India profit revival

Earnings have recovered steadily over the past two quarters as businesses rebound from the disruptions

In India, it’s becoming a ritual. Each year investors are assured that earnings are about to recover. Each year, they don’t.

Anything that suggested that might change would be welcome news to stock bulls, who’ve watched last year’s rally hit a wall. Now there’s evidence it may, though you have to look pretty hard to see it.

As usual, analysts are predicting a profit bounty for Indian firms. Net income among NSE Nifty 50 Index companies is set to rise 25 percent in 2018, they say, catching up with a rally that added $822 billion to prices last year. What’s cheering bulls