New Delhi, Nov. 2 -- Earnings growth of Nifty-50 companies reached an 11-quarter high in the first quarter of FY27, even as Indian equity markets went through a period of price and time correction, according to a report by Kotak Neo.

The report expects the strong earnings momentum to continue, forecasting Nifty-50 earnings growth of approximately 18 per cent in FY27 and 13 per cent in FY28.

It said the improvement in corporate earnings has come alongside a correction in market valuations, making Indian equities more reasonably valued despite near-term uncertainty caused by the Middle East conflict and volatile foreign investor outflows.

The Nifty-50 is currently trading at 18.7 times its FY27 earnings and 16.5 times its FY28 earnings, ...