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
Our channel checks suggest industry demand likely grew in low single digit YoY during December 2020, while average pan-India prices corrected 3-4% month-on-month (still up 5% YoY) owing to volume push (by calendar year-end companies) and fight for higher market share.
Volumes and prices both are likely to be up 5-6% YoY during Q3 FY21E, which would drive more than 25% YoY Ebitda growth.
Key trigger to watch out for, would be seasonal price hikes which usually start from mid-January 2021 as peak construction period sets in and also necessitated this time by cost escalations.
We remain optimistic about the imminent price hikes.
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