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
We are optimistic on paint industry based on -
1. like-for-like volume growth in the near-term is likely to be more than 15% led by revival in metros and tier-I cities and strong momentum in tier II, III cities and villages,
2. projects business (10% of paint sales) has also revived with recovery in the real estate sector,
3. passenger vehicle production growth (up 14%) and two-wheeler production growth (up 13%) remained strong in January-February 2021.
4. smaller paint companies have selectively raised prices in the past two-three months. However, market-leading companies have not yet raised selling prices and
5. there is steep inflation of 10-50% across all major input prices
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