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ICICI Securities Report
Low expectations after one of the sharpest downgrades to Nifty 50 forward earnings (more than 30%) since global financial crisis due to the impact of Covid-19 is helping higher number of beats thus far during Q2 FY21.
However, apart from low expectations, positive demand emanating from rural India, government spending, export markets, and essentials is also helping the earnings picture.
Lower input cost and cost control in general is helping profit margins.
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