ICICI Direct: Muhurat Picks – 2020
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ICICI Direct Report
The year 2020 witnessed unparalleled disruptions led by the outbreak of Covid-19, which was followed by locking down of economies, thus bringing the entire value chain and economy to a grinding halt.
An average of two months was lost due lockdown, impacting the overall performance of companies in Q1 FY21.
However, beginning Q2 FY21, gradual recovery was seen across sectors led by lockdown lifting, pent-up demand and resumption of industrial activities.
The first leg of Q2 earnings, especially on sectors like IT, cement, etc, has shown a resilient performance and better-than-expected earnings.
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