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Nirmal Bang Report
Our channel checks across major Indian cities indicate that business sentiment has weakened after the festive season. However, wedding season demand has come to the rescue, particularly in the appliances and white goods category.
Our interactions with dealers/distributors suggest that people are in saving mode amid fear of a possible third Covid-19 wave.
In consumer electricals category, business-to-business demand has seen an uptick after Diwali. We note that brands continue to resort to price increases. However, there is expectation that moderation in copper prices/polyvinyl chloride will result in price correction going forward.
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