Investors Fear Market Fallout Of State Lockdowns To Fight Covid Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge.
Updated: May 10, 2021 11:44 am IST
Analysts have started to cut price targets for stocks of some of the biggest banks and automobile giants.
Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge.
More than two thirds of states are shut if assessed by their contribution to national output, analysts at Jefferies calculated last week. Tamil Nadu, which houses foreign manufacturers including BMW and Dell, will also close from Monday, while Delhi extended its lockdown for another week. The measures come as pressure builds on Prime Minister Narendra Modi to impose strict nationwide curbs as he did last year.
Covid lockdowns: How’ll they play out for different sectors
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Last Updated: Apr 22, 2021, 02:18 PM IST
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Synopsis
The announcement of localized lockdowns by various states and the rising Covid19 cases will have an impact on corporate earnings in the medium term.
CIO, Axis Securities Ltd.
Kulkarni leads research and advisory functions across customer segments at Asix Securities. An engineer with an MBA from IMI, Delhi and a CFA and FRM certificate holder, Kulkarni has over 15 years of experience in financial market. Previously he has had successful stints with Reliance Securities and Phillip Capital India.
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