JP Morgan flags more earnings downgrades, de-rating for IT

JP Morgan flags more earnings downgrades, de-rating for IT

Mumbai: US brokerage firm JP Morgan maintained its underweight stance on the Indian IT sector and said the technology services companies remain at continuous risk of earnings de-rating and downgrades. Revenue growth trends have normalised to single digits as witnessed prior to the outbreak of the Covid-19 pandemic, it said. “TCS and Infosys‘ very disappointing … Read more

Pace of earnings downgrades picks up with cost inflation, demand slowdown

Pace of earnings downgrades picks up with cost inflation, demand slowdown

Mumbai: Analysts are slashing profit estimates of companies as the impact of the sharp run-up in raw material costs and demand slowdown in rural India are expected to reflect on earnings over the next couple of quarters. Downgrades in earnings estimates by analysts at leading brokerages have outnumbered upgrades in the past four weeks. Out … Read more