Pandemic stress and subsequent regional lockdown have not yet curbed the markets’ optimism for FY22 earnings. However, localized restrictions are expected to lead to some downward revisions in earnings, but that could be limited as large corporates are better prepared this time. A large economic damage like last year is unlikely to happen. The question is will second wave of covid delay earnings recovery in FY22? To discuss that Mint's Nasrin Sultana is joined by Hiren Ved, Director, CIO and CEO, Alchemy Capital Management.