BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. 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 industry volumes likely declined by mid-single digit YoY during July 2020 – broadly similar to those witnessed during June 2020.
Volumes in North, Central and East regions (least impacted by Covid-19 outbreak) likely grew in high single digit YoY also aided by better rural housing demand and pre-election spending; while volumes are still meaningfully down YoY in both West and South regions.
Average pan-India prices are up 3% YoY even as prices corrected by Rs 1012 per bag month on month across most regions with the onset of monsoons.
We maintain our positive stance and see an upside risk to consensus estimates.
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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
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