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This Article is From Oct 12, 2021

India Strategy- Early Q2 Corporate Updates Confirm Resilient High Frequency Macro Indicators: ICICI Securities

India Strategy- Early Q2 Corporate Updates Confirm Resilient High Frequency Macro Indicators: ICICI Securities
An employee, seen through reflections on a glass window, looks at a computer monitor at a brokerage firm in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
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Nifty Smallcap 50
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Nifty Smallcap250 Quality 50
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NIFTY NEXT 50
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Nifty Midcap150 Momentum 50
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NIFTY Midcap150 Quality 50
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Nifty Low Volatility 50
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Nifty High Beta 50
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Nifty Financial Services 25/50
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Nifty Alpha 50
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NIFTY 500
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Nifty 50
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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

Initial business updates for Q2 FY22 by some large and mid-corporates representing the organised sector from diverse parts of the economy such as discount retail (Avenue Supermarts Ltd. – 46.6% revenue growth), high-end jewellery and discretionary retail (Titan Company Ltd. – 78% revenue growth YoY), real estate (strong sales by Sobha Ltd., Macrotech Developers Ltd. and Oberoi Realty Ltd.), non banking financial company retail finance (Bajaj Finance Ltd. - assets under management up 22% YoY and 7% QoQ) and bank advances (QoQ AUM growth of 4.4%, 5.3% and 5.7% by HDFC Bank Ltd., IndusInd Bank Ltd. and Yes Bank Ltd., respectively) indicate economic recovery continues.

IT services growth continue to be steady as per Tata Consultancy Services Ltd.'s Q2 update.

Click on the attachment to read the full report:

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.

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