Warning bell! Deutsche downgrades 34 cos earnings estimates

Moneycontrol Bureau

As India Inc gears up for the June quarter earnings season, downgrades rather than upgrades continues to be the dominant theme.

The March quarter earnings were broadly on expected lines, but the outperformance was mostly at the net profit level. Sales growth disappointed, reflecting the demand weakness in the economy. The same trend may be repeated in the June quarter as well, with most analysts not expecting a meaningful recovery in earnings growth.

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Brokerage house Deutsche Securities has cut FY14 earnings per share estimates for 34 companies, and raised estimates for 12 companies.

Here are the 34 companies, for which earnings estimates have been cut. (Source: Deutsche Securities report)