Q4 Earnings Review - Recovery Continues But Caution Ahead: KRChoksey
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KRChoksey Research Report
There was broad based economic and earnings recovery across sectors with companies operating at almost full throttle, supported by lower Covid-19 cases in January and February.
Optimism around vaccination program facilitated positive sentiments as the benchmark indices touched new highs on the back of strong earnings growth going forward.
However, the emergence of the second Covid-19 wave in the second half of March may negatively affect earnings in Q1 FY22.
Increasing prices of raw materials resulted in pressure on operating margins, particularly in the consumer and automotive sectors.
The second wave of Covid-19 and record increase in cases has brought the focus back on pharmaceutical companies, similar to what happened last year.
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