Impact of 2nd wave
Can businesses recover from the second wave
Covid-19
Can businesses recover from the second wave
Second wave killed the demand recovery from the first wave. Increase in the prices of commodities such as oil have made it more difficult. Digital services sector benefitted from the second wave.
Business Standard shared the impact of 2nd wave on India’s key sectors.
Consumer durable goods makers, retailers and quick service restaurants (QSRs) have been hit the most in the consumer pack
FMCG sector will take longer to recover than QSRs and consumer durable goods sector.
Automobile sector experienced the lowest margins in five years due to high input costs and low sales.
Next three quarters may help automobile companies to recover.
Construction and capital good sectors saw drop in the revenues, but net sales increased.
Construction industry will see faster recovery than capital goods firms.
Information Technology services firms, oil and gas companies, cement, metals, banks escaped the negative impact. They were amongst the top performers.