BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Apparel retail companies may see a gradual demand recovery entering CY22 amid rising concerns around Omicron. Most companies have strengthened their balance sheets in CY20-21 via equity raise, managed cost structure and working capital well, and are in a better position to manage current uncertainties.
Companies may continue to expand distribution network, while online / e-commerce sales momentum seen during CY20-21 may accelerate further.
Some of the cost savings achieved during pandemic may sustain, and coupled with high operating leverage, may structurally lead to higher than pre-Covid-19 margins.
Recent 15-20% stock price correction seems to factor in rising concerns around Omicron making valuations more reasonable, in our view.
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