India Inc's earnings expectations way too lofty: BofA's Amish Shah

BofA Securities' Head of India Research Amish Shah said the general expectations for India Inc's earnings growth are "way too lofty". The consensus expects a cumulative growth of about 33% for Nifty in two years, whereas BofA expects the figure to be around 17%, Shah stated. He added that this would lead to a correction in valuations.