India tops emerging markets in negative earnings revision: Morgan Stanley

India has got the dubious distinction of topping the list of emerging market (EM) countries with the highest negative revision in earnings. According to an analysis done by Morgan Stanley, India's earnings revisions breadth factor has touched negative 70 per cent for the first time since 2001. 

This is also the highest negative score across all emerging markets with South Korea close behind. Earnings revision breadth is net earnings revision by total estimates. In the past four financial years, the actual earnings growth for Indian companies has undershot analysts’ estimates. 

During this time, the earnings growth for Nifty companies has been flat