The benefits of the Goods and Services Tax (GST) rate rationalization are yet to play out meaningfully, and its impact on domestic-focused automobile companies is expected to be visible only from the third quarter of FY25, according to a report by HDFC Securities.
Rural India is showing strong signs of economic progress. A report from HDFC Securities suggests that in 112 rural districts, home to nearly 291 million people, the average income per person has now crossed USD 2,000.
Capital goods companies are expected to benefit from the transition to newer sources of energy and subsequent decarbonization of the economy, besides a pick up in exports and public/private spending.