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    ICICI Securities: Prospering in the pandemic

    Neha Dave
    July 02, 2020 / 01:27 PM IST
    ICICI Securities: Prospering in the pandemic

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Equity markets are defying gravity despite the Indian economy growing at the slowest pace in 11 years in the fourth quarter of FY20. After falling off a cliff in March, the Nifty has climbed back and is up 37 percent since 23rd March. The drastic fall in equity markets with the outbreak of COVID-19 and the subsequent dazzling rise has facilitated the addition of new retail investors and traders. The most obvious beneficiary of this trend is the broking...

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