According to global financial services major Morgan Stanley, the current drawdown in earnings has broken the 2001-02 and 2008-09 levels, and the recovery in earnings would be delayed by about four quarters. The report also noted that global situation is an additional drag on Indian earnings. "India has been in its worst earnings drawdown since we have the data (from 1996)," Morgan Stanley said. "This lifted the share of global earnings, especially for large companies, and also the sensitivity of the earnings of the leading indices to global growth. However, Morgan Stanley said India has outperformed emerging markets, especially after the summer of 2013 when the country's macro stability improved.

Source: dna August 24, 2016 15:44 UTC