Profit Forecasts in India Climb to Record, Defying Bears: Chart

The seven-day sell-off in Indian stocks, the longest streak in 2017, hasn’t marred analysts’ outlook for earnings. Brokerages have raised estimates for companies in the NSE Nifty 50 Index to a record as the government considers measures to boost the economy after a sharp slowdown last quarter. Problem is, actual profits haven’t caught up with the optimistic projections since the run up to the 2014 elections, which Prime Minister Narendra Modi’s party won with the biggest mandate in three decades.