India's heatwave drives 6.3% average increase in stock market earnings per share for cooling product companies like Varun Beverages and Havells.

India's heatwave boosts optimism for higher earnings in stock market segments, with companies like Varun Beverages and Havells experiencing a 6.3% average increase in their 12-month ahead earnings per share since early April due to increased demand for cooling products. Air conditioner manufacturers and power generators trade at premiums to their long-term averages, with Voltas Ltd and Havells shares rallying over 20% in Q1.

May 27, 2024
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