The points to demand being weak is a phenomenon that is more pronounced for consumer companies. The strongest growth in revenue and profits was seen among banking and finance companies. IT also reported a slowdown.IT companies are giving the ongoing placement season a miss and may look at visiting campuses only in the Jan-March quarter. Once the company has enough operational history, it expects to join Indigo and SpiceJet on the bourses, according to chief executive Vinay Dube.According to Nielsen data, urban volume growth in the second quarter of this fiscal year exceeded rural volume growth by 200-300 bps. This growth could also be under stress if crude and commodity prices rise and if rural crops don’t deliver in the kharif season.

Source: Forbes October 23, 2023 04:57 UTC