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.
Motilal Oswal Report
Index of Industrial Production growth in October 2021 came in at 3.2% YoY versus 3.3% YoY in September 2021 and 4.5% YoY in Oct-2020. The number is lower than our expectations and Bloomberg survey of 3.7% YoY. IIP growth for Sep-21 has been revised upwards from 3.1% previously.
Manufacturing activity (IIP weightage: ~78%) grew only 2% YoY in Oct-21 as against 3% YoY in Sep-21. On the other hand, mining activity (IIP weightage: ~14.4%) grew faster at 11.4% YoY (versus 8.6% YoY a month ago) and power generation grew 3.1% YoY compared to 0.9% YoY in Sep-21.
Slower growth in textiles and basic metals and continued contraction in others such as rubber and plastic products, pharmaceuticals, chemicals, leather-related products, among others caused the overall slowdown in manufacturing activity.
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