 "From the recent peak on February 19 2020, the Indian equity market has corrected 28 per cent (in US dollar terms), underperforming many regional peers.")
Even as coronavirus (Covid-19) pandemic is yet to peak and its impact fully known on the fortunes of Corporate India and the economy, most brokerages have started to trim earnings estimates for India Inc for the next financial year 2020-21 (FY21).
Analysts at Jefferies, for instance, suggest that the markets are already pricing in a 15 per cent drop in earnings given the current valuations. Within Nifty 100, they believe, 63 per cent stocks, including HCL Technologies, Infosys, ITC, Hero MotoCorp, Marico and Petronet, are building in a higher earnings downgrade of over 20 per cent. The earnings cut potential,
