New Delhi, Jan. 10 -- On an aggregate level, investors had better not have high hopes from India Inc.'s December quarter earnings. Bloomberg's FY19 earnings per share (EPS) estimates for Nifty have continued to head southward. The fall in estimates is steeper for midcaps and smallcaps. Apart from headline revenue and profit figures, investors would also need to focus on cues about the sustainability of earnings, any change in trends, and emerging threats and opportunities.

We take a look at key issues facing some important sectors:

Automobiles: The dismal monthly sales data of automobile companies is a precursor to what lies ahead in terms of earnings. Apart from commentary on rural and urban demand, outlook on pricing, discounts and ne...