Brokerages hand out earning downgrades for quality stocks: Time for investors to exit?
Updated : November 21, 2018 02:33 PM IST
If we look at India’s top 200 companies in the S&P BSE 200 index, as many as 68 percent saw an earnings downgrade, while only 29 percent of them saw an earnings upgrade for FY19, said a report.
Earnings upgrades were mainly seen in IT and pharma helped by the rupee depreciation, while major downgrades were in auto, telecom, cement and select financials.
The slowdown in festive demand, rise in crude oil prices dented sentiment in auto space, while for telecom, rise in competition from Reliance Jio weighed on ARPUs, suggest experts.
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