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Expect FY16 EPS downgrade; FY15 earning to grow 5%: Motilal

Rajgarhia does not see any earnings recovery for the next couple of quarters, and sees FY15 earnings growing 5 percent against 10-11 percent estimated earlier

Aggregate earnings of Sensex companies for FY16 is likely to see a downgrade, says Rajat Rajgarhia, MD – Institutional Equities, Motilal Oswal Securities.

On the positive side, earnings growth for next year could be in excess of 15 percent, says Rajgarhia in interview to CNBC-TV18 on the sidelines of the Make in India conference hosted by Motilal Oswal.

He does not see any earnings recovery for the next couple of quarters, and sees FY15 earnings growing 5 percent against 10-11 percent estimated earlier.

At the broader level, earnings in the December quarter are down 3-5 percent, he says.

Rajgarhia is hopeful that the ‘Make in India’ theme will instill confidence in Indian companies. He sees state playing an important role in the success of this project.

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