Bajaj Corporation’s Q3FY17 print was broadly in line with our estimates. ADHO volumes declined 4% y-o-y due to demonetisation impact (though in line with our estimates) accentuated by distributor destocking, sharp dip in wh
Wipro has taken an interesting approach towards digital through Wipro Digital, a unit that is branded separately and focuses entirely on business outcomes using strategy, design and technology as the enablers.
Cement prices have corrected by Rs 4 per bag MoM on an all-India basis, with dealers suggesting that business has halved since the currency demonetisation even as companies maintain a lower impact on volumes.
Beyond an in-line quarter for execution and traffic growth, we note positives in good order pipeline for 2HFY17, limited support needed from SBI-Macquarie to capture such opportunity and limited impact of demonetisation on EP
Post the announcement of demonetisation, retail sales of two-wheelers have got severely impacted (down ~30-50% y-o-y) in various regions in India largely due to lack of adequate cash in hands of customers.
We expect businesses and households in the ‘black’ and informal economy to have a serious rethink about their finances given the large ‘psychological’ impact of the government’s recent demonetisation measure.