Nifty could shed 22% if lockdown is extended till May: Axis Securities CIO

In a Q&A, Naveen Kulkarni says earnings growth for F21 could go down to minus 15 per cent, depending on the extent of extension

The covid-19 outbreak has seen markets the world over tumble. Yet, there are further downside risks with possibility of the Nifty falling another 16-22 per cent says, Naveen Kulkarni, CIO, Axis Securities. In an interview to Vishal Chhabria, he see earnings growth for FY21 to trend in the range of 5 per cent to minus 15 per cent, depending on how long the lockdown  is extended. Edited excerpts:

What is your view on the coronavirus outbreak, and how long and deep will its impact be for India?

It is now very clear that there will be a significant impact on