<ul><li>Metals, telecom, BFSI, technology, and healthcare are expected to drive earnings in Q4 FY25, while oil and gas continue to drag.</li><li>Motilal Oswal expects earnings to grow by a modest 1% YoY, with Nifty also growing 2% YoY in Q4 FY25.</li><li>Earnings growth during the quarter is likely to be driven by Metals (+24% YoY), Telecom (loss to profit), and Healthcare (+11% YoY).</li><li>Private Banks, PSU Banks, and NBFC-lending are expected to have moderate to negative earnings growth in Q4 FY25.</li></ul>

India Strategy And Q4 FY25 Results Preview: Trump’ed And Tariff’ied’ — Read Motilal Oswal's Analysis

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