Credit Suisse has cut NSE index EPS estimates for FY16 and FY17 by 2 per cent and 1 per cent, respectively.
Bulk of cuts is from Cairn India, Bharat Heavy Electricals and cement stocks.
Credit Suisse says January-March results are weak so far but the ratio of misses is down QoQ.
It adds that FY15 NSE index EPS growth may settle at 6 per cent vs 8 per cent now.