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
Q4 FY21 is turning out to be the fourth consecutive quarter of earnings beat exceeding misses (led by cyclicals), which has resulted in profit after tax/ gross domestic product rising further to 2.8% despite upward revision to FY21 GDP base.
‘Look through earnings’ of Nifty 200 portfolio has risen sharply by 120% driven by cyclicals in Q4 FY21.
Latest GDP print indicates economic recovery is led by investments as the real investment rate rose to a two-year high of 34.3% driven by robust construction and manufacturing sector along with higher government spending.
It is also corroborated by robust quarterly results of sectors such as metals, cement, building material, capital goods, auto as well as the resilience shown by merchandise exports.
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