Reuters Market Eye - Bank of America Merrill Lynch says it expects FY14 Sensex earnings per share (EPS) to be downgraded below 1,300 rupees, which is a growth of under 10 percent versus current expectations of 17 percent, citing concentration risk and a delay in economic recovery.
The investment bank says five stocks, namely Oil and Natural Gas Corporation Ltd
BofA-Merrill adds that FY14 EPS growth, at 8-9 percent, will be higher than the 5 percent for FY13 and that long-term investors have probably been close to the bottom of the earnings cycle, though FY14 is unlikely to be the year of recovery.
(Reporting by Abhishek Vishnoi)
Source: http://news.yahoo.com/earnings-downgrades-continue-fy14-bofa-merrill-104159955--sector.html
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