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Nirmal Bang Report
The Indian retail sector was hit badly due to the Covid-19 pandemic in H1 FY21 but has been rapidly normalising since the opening up that started in a material way in Q2 FY21.
Typically, this is also the quarter which sees higher average selling price products being sold which results in better margins.
As the fear of the virus seems to be receding and the government is about to embark on a large-scale vaccination exercise, we believe that the retail sector will be back in good shape by H1 FY22.
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