It’s cloudy with a chance of earnings downgrades

Mumbai: The negative effects of the lockdown on businesses on account of the second wave of coronavirus are beginning to show on analysts’ profitability expectations of Indian companies. Downgrades in earnings estimates by analysts at leading brokerages have outnumbered upgrades in the past four weeks. But analysts say the extent of downgrades after the second Covid-19 wave starting April could be less drastic than those in 2020 as the lockdowns