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ICICI Securities Report
Due to slight reduction in labour (painter) cost/wages, a price hike of approximately 3% is likely to be easily absorbed by the market with negligible impact on volume growth - that's the opinion of paint dealers in Kolkata.
They told us,
1. there is excess labour supply now as most migrant labour is back to the city and still some industries are working at lower utilization so excess labour is available for painting work,
2. the price hikes by unorganised, smaller players are easily absorbed without much pressure on volumes, hence, price hikes by larger players will be easier to implement,
3. there is low/no impact on consumer sentiments due to elections and second wave of Covid-19.
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