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Broker call▲ Bullish for ICICI Bank
Exports, rising power demand to support manufacturing growth despite rural weakness: ICICI Bank
The brief
- ICICI Bank projects manufacturing growth, supported by rising exports and a strengthening investment cycle
- Rural weakness is expected to persist despite those supports
- Export-linked manufacturers and power companies may benefit from stronger production and rising electricity demand
- August IIP Growth Jumps To 8% As Manufacturing, Power Output Surges
- India’s industrial output grows 8% in August as manufacturing expands 9%
- IIP growth comes in at 8% in August compared with 7.4% in July
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