Q3 Earnings Review - Demand Largely Pent-Up Driven: ICICI Securities 
A chart displayed on an electronic stock board outside a securities firm in Tokyo, Japan. (Photographer: Kiyoshi Ota/Bloomberg)

Q3 Earnings Review - Demand Largely Pent-Up Driven: ICICI Securities 

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.

ICICI Securities Report

Pent-up demand, driven by the opening up of the economy and festive season, definitely had a larger role to play in the areas showing robust demand trends (construction, manufacturing and selectively consumption) resulting in a strong earnings season with a beat/miss ratio of 4.3 times during Q3 FY21.

Discretionary consumption such as retail and leisure which continue to contract, will see incremental pent-up demand getting released as Covid-19 cases recede, which is evidenced by their mobility trends (down 21% below baseline but rising; Google mobility).

Click on the attachment to read the full report:

ICICI Securities Strategy_Q3FY21 Earnings Review .pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.