Earnings estimates dip to lowest level in FY17 post note ban
Earnings estimates for Sensex companies have fallen 2.9% since demonetisation, to touch their lowest level last week for this fiscal, Bloomberg data stated. Demonetisation, an attempt to curb black money and terror finance, has led to a cash deficit, analysts said. This has halted expectations of a consumption jump amid good monsoon and implementation of Seventh Pay Commission’s recommendations. 