Soft Q1 earnings prompt downgrades to Nifty FY25 estimates. Here are key forecasts

The first quarter earnings for the current fiscal were muted, affecting cyclical sectors like industrials and autos. This led several brokerages to lower their Nifty EPS estimates for FY25. Nuvama downgraded EPS by 2%, and Motilal Oswal adjusted it by 1.7%, notably impacting companies such as RIL, ONGC, and BPCL.