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
Our channel checks suggest demand in May 2021 likely declined in low double digit month-on-month owing to localised lockdowns, with improvement seen during the second half of May 2021.
On a YoY basis, May 2021 volumes saw low double-digit growth aided by low base.
Industry operated at ~65% utilisation (27 million tonne) with exit-May-21 utilisation crossing 75% and getting back to pre-Covid-19 utilisation, in-line with seasonality.
With receding Covid-19 cases and possible gradual relaxation in lockdowns, construction activities may gain momentum in June-21 before monsoon sets in.
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