Here's why Pankaj Tibrewal is bullish on financial stocks
But what we do is we normalize those earnings which are more volatile in nature. Let me give you a small example. If there is a telecom company which is a part of mid cap index and it reports a loss of say Rs 60,000 crore last year, and if that loss comes to Rs 30,000 crore, suddenly you see that the headline mid cap earnings growth is looking very strong.
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