ICICIdirect Research Update
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ICICIdirect Research Posted on 09:39am 15-Jun-2020

Overall, markets are likely to undergo healthy consolidation in the near term post a sharp recovery since March lows...

Empirically, the most prominent observation seen post major correction (~40%) is that the index has undergone a basing process for the next six to nine months that have offered portfolio building opportunities from a long term prospective. Hence, any dip from here on should be capitalised on to accumulate quality stocks in a staggered manner... Click on the title to read Mutual Fund Review...
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ICICIdirect Research Posted on 05:21pm 07-May-2020

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Corporate Action Tracker - May 2020

Click on the title to read monthly corporate action tracker for May 2020...
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ICICIdirect Research Posted on 05:04pm 06-May-2020

Sector Update - Oil & Gas: Excise duty hike to impact sentiment...

The central government has hiked the excise duty on petrol and diesel by | 10/litre and | 13/litre, respectively, from May 6 taking into consideration low crude oil prices at ~US$25/bbl. However, retail prices at fuel outlets will not be increased. This implies that auto marketing margins for oil marketing companies (OMCs), which are at super-normal levels of ~| 16-17/litre will get reduced to normal levels at current crude oil prices. Also, OMCs will have to increase retail selling price to maintain normal margins in case of increase in crude oil prices. Click on the title to read more...
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ICICIdirect Research Posted on 04:20pm 06-May-2020

Sector Update - Retail: Revival in discretionary segment to be elongated...

The Indian retail sector is facing unprecedented circumstances owing to the Covid-19 outbreak leading to nationwide lockdown by the Centre as well as several state governments. Given the magnitude of Covid-19 impact in India till date, especially in high revenue generating urban zones, we anticipate the situation may not ease until festive season. Hence, we bake in revenue disruption for the next six months. Gradual store openings may witness limited operations owing to supply disruptions and implementation of social distancing norms. Click on the title to read more...
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ICICIdirect Research Posted on 02:54pm 04-May-2020

Auto Volumes - May 2020

Domestic auto industry reported negligible sales volumes during April 2020. The month witnessed barely any production or sales activity as nationwide lockdown implemented to combat Covid-19 spread was in effect throughout, except for some relaxations in certain pockets during the latter fortnight. OEMs’ miniscule volume prints often were on account of exports as the domestic value chain remained shut. The black swan nature of the month gone by renders any comparison to the year ago period meaningless. Click on the title for more details...