Earnings Review: June quarter a mix bag for India Inc

The market has taken the mixed results with a pinch of salt, as it is unable to push the market higher. However, Deven Choksey, MD, KR Choksey Securities is not so disappointed with the results except for Hero Honda and Bajaj.

In an exclusive interview with CNBC-TV18, Choksey said that RIL will continue its good performance

Excerpts from Bazaar on CNBC-TV18 Watch the full show »

"In this quarter, once again you would find better performance coming from SAIL, and you are going to find continued performance coming from RIL. Nothing much has changed, the market perception has somewhat changed to negative, that I would agree," he adds.

Here is a verbatim transcript of the exclusive interview with Deven Choksey on CNBC-TV18. Also watch the accompanying video.

Q: Have you been a bit disappointed at what you have seen from the earnings calendar over the last one week?

A: I think not completely disappointed, but by and large on expected lines, except in case of Hero Honda, given the kind of pressure that Bajaj had built into the market place. I think the company had difficult time in raising its prices for the products to maintain the market share. But beyond that, I haven’t seen many negative surprises.

I don’t think that Reliance Industries was a negative surprise. I think in a commodity company, you will have such situation coming in, wherein at such point of time, when you don’t have higher amount of volumes to produce and the prices are fixed because of the regulatory regime or whatever the market forces you may call it, you may not probably see the kind of upside coming in.