 "Sharp earnings downgrades for Dr Reddy's, Zee Entertainment and IOC")
The ongoing earnings season for the September quarter has led to sharp earning downgrades for a clutch of Nifty companies. For example, Indian Oil Corporation (IOC) and Dr Reddy's Labs have seen analysts cut their earnings estimates for 2019-2020 by 16 per cent and 11 per cent, respectively. In the case of Axis Bank and IndusInd Bank, the cut has been between 5 and 7 per cent. Among other Nifty companies, Zee Entertainment (ZEEL) has seen an earnings cut of over 8 per cent. However, some companies have also seen earning upgrades. JSW Steel has seen analysts raise earnings estimates by 30 per cent. Within the stocks covered by Motilal Oswal Financial Services, auto and metal sectors have seen 12-13 per cent earnings upgrade. Among auto stocks, Hero MotoCorp and Bajaj Auto have seen earning upgrades of 9 per cent and 7.5 per cent, respectively.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%