 "q3")
Stock market bears have another reason to push prices lower.
The earnings upgrade-to-downgrade ratio after the December 2024 quarter (Q3FY25) is the worst in more than five years (22 quarters).
According to an analysis by Motilal Oswal Financial Services (MOFSL), the ratio stood at 0.3x, the lowest since Q1FY21.
This means that for every company whose projected earnings (for FY26 or FY27) were upgraded, nearly four companies saw their earnings downgraded.
“The earnings upgrade-to-downgrade ratio has weakened significantly for FY26E, with 37 companies’ earnings upgraded by over 3 per cent, while 137 companies’ earnings were downgraded by more than 3
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