While inflationary pressure will dent earnings in other sectors such as cement, FMCG, pharma, chemicals, etc, we expect them to be able to pass some of these costs to the consumers in calibrated manner and still register moderate growth. This might lead to interim pressure on margins.
from Moneycontrol Market Outlook https://www.moneycontrol.com/news/market-outlook/daily-voice-|-expect-corporate-india-to-register-strong-double-digit-growthfy23-largely-driven-by-heavyweight-sectors-says-unmesh-sharmahdfc-securities_16296621.html
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