"We are still conservative on the volumes assuming travel, tourism and hospitality would come back significantly in the next financial year. Otherwise, it doesn't really matter in the banks or IT services sector barring whatever inflation being seen on the salary side. Commodity companies stand to benefit, given the big increase in commodity prices.So other sectors are broadly fine. But consumption sectors have pricing power, especially consumer staples as well as discretionary. The second quarter saw a bit of compression in gross margin and EBITDA margin for most of the companies in the sectors.

Source: Economic Times November 21, 2021 09:55 UTC