Capital Goods Q3 Earnings Preview: Getting Back On Track, Says ICICI Securities
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ICICI Securities Report
Project execution is limping back to normalcy as per expectations, though, there is a concern on more localised lockdowns and slowdown due to social distancing norms.
Public sector ordering traction is gradually picking pace albeit slowly; however, large private and core sectors are in a wait and watch mode.
Given the current fiscal conditions and urgency to get back the gross domestic product growth, the government’s focus on large multilateral funded projects such as high-speed rail, metro, etc. has increased.
We expect this to continue in near term as this will aid in job creation and give fillip to infrastructure investments.
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