Anand Rathi: India’s IIP Surprises Positively In October; Unlikely To Continue Though 
An employee uses a press punch to cut lock components at a factory in the Tala Nagri Industrial Area of Aligarh, Uttar Pradesh, India. (Photographer: Udit Kulshrestha/Bloomberg)

Anand Rathi: India’s IIP Surprises Positively In October; Unlikely To Continue Though 

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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.

Anand Rathi Report

Buoyed by pent-up demand and festival sales, industrial growth during October 2020, at 3.6%, ran ahead of expectations, but is unlikely to continue. We do not expect any change in monetary or fiscal measures.

Electricity generation grew a sharp 11.2%; and manufacturing, 3.5%. Mining, however, recorded a 1.5% contraction.

Of the use-based categories, durables clocked the fastest growth, 17.6%.

Capital goods also recorded positive growth (3.3%), the first in 22 months. Only primary goods contracted during Oct-20.

Intermediate goods registered subdued growth during the month.

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Anand Rathi October IIP.pdf

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