Care Ratings: India’s IIP Rebounds To  Eight-Month High In October  
An employees welds the steel reinforcing frame of a precast concrete tunnel segment at the Mumbai Metro Rail Corp. casting yard in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Care Ratings: India’s IIP Rebounds To Eight-Month High In October  

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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.

Care Ratings Research Report

In October 2020, the industrial production based on Index of Industrial Production rebounded to an eight-month high and grew by 3.6% YoY as against a contraction by 6.6% in the corresponding month of last year and the 0.2% growth in September 2020.

The industrial output grew despite contraction in eight core sectors by 2.5% in October 2020, which has nearly 40% weightage in IIP and was also against our expectations of a fall by 1.2% in October 2020.

The growth during the month has been supported by favorable base effect which resulted in significant growth registered by the manufacturing and electricity segment.

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Care Ratings IIP October 2020.pdf

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