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.
ICRA Research Report
The Index of Industrial Production recorded a stable yet tepid growth of 3.2% in October 2021 (our expectation: up 2.9%; September 2021: up 3.3%) with the festive season boost being negated by the supply side issues afflicting the auto sector, as well as a higher base (up 4.5% in Oct-2020; up 1.0% in Sept-2020).
The disaggregated data does not provide convincing signals of the recovery becoming durable and broad-basing further, with capital goods (down 1.1%) and consumer durables (down 6.1%) reporting a YoY contraction in October 2021.
Moreover, consumer non-durables displayed a sub-1% rise for the second consecutive month in October 2021, adding heft to the view that the demand recovery is as yet tentative.
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