"The September-quarter earnings season hasnit been up to scratch with more misses than beats at the Ae J level. However, on a weighting basis, results season is not that bad contrary to what is suggested by simple beat-miss ratio. Largecap index stocks, especially in MSCI China, have had a good earnings season so far," said Chetan Seth, Ankit Yadav and Anshuman Agarwal of Nomura in a recent note.
Of the 87 Indian companies under the Japanese brokerage's coverage that are also part of the MSCI indices and have at least three analyst estimates, September quarter results of 48 companies have missed forecastl estimates. As many as 29 companies beat earnings estimates and 10 reported in-line numbers.
China, which has announced a stimulus to prop up its economy, saw 9 out of 87 companies miss forecastsl estimates, Nomura said.
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