Motilal Oswal: India’s IIP Growth Swings Upward In October
Newspaper printing press in India. (Photographer Anindito Mukherjee/Bloomberg)

Motilal Oswal: India’s IIP Growth Swings Upward In October

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.

Motilal Oswal Report

Better than both our expectation and market consensus of 0.8% and 1.0%, respectively, index of industrial production grew 3.6% YoY in October 2020, against growth of only 0.5% in September 2020 and decline of 6.6% YoY in Oct-2019.

Notably, IIP contraction for July 2020/Sept-20 has been revised upward to down 10.5%/0.5% from down 10.8%/0.2%.

The upswing in IIP in Oct-20 was led by turnaround in manufacturing activity – it grew 3.5% YoY during the month, for the first time in eight months.

Although power generation increased in the double digits, mining activity continued to contract in Oct-20.

Click on the attachment to read the full report:

Motilal Oswal IIP October Update.pdf

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