Newsletter – June, 2023

Q4FY23 co-incided with the latest IPL season. Amidst all this cricket buzz, it is difficult not to draw parallels between the game of Cricket and the recent earnings season. This IPL season had its share of ‘fireworks’ – from high-scoring games, nail-biting finish, magical turnarounds and even off-pitch drama – we saw it all! Similarly, 4QFY23 had its share of hits and misses. It started amidst a tough global macro environment with stress in US regional banks which was exacerbated by weak IT sector earnings. However, the quarter ended with decent double-digit growth for Nifty 50 aided by Financials and Auto with metals and Oil & Gas being the key laggards. All our portfolios saw healthy double digit growth with most of them outperforming their respective benchmarks. In this newsletter, we take a look at how each of the sectors performed, the winners / laggards in each of them and what to expect going into the New Year!