Equity Market Outlook

AS ON 28th February 2023



Budget is focusing on sustainable growth: The Budget gives impetus to growth with sharp increase in capital spending. Capital expenditure is projected to grow at 37.4% in FY24 led by railways, roads, state capex transfers and clean energy

Q3FY23 results review: India Inc. earnings moderated in Q3FY23 in midst of challenging global environment. Financials and Auto continues to drive performance offsetting some weakness, while other sectors such as Cement, Metals, Oil and Gas amongst others reported lower profits.

Margins are expanding, demand key to watch: Prices of most of the commodities and gas has started to come down which are aiding the margins of the company. However, price hikes taken by corporates due to higher RM has posed a threat on demand growth.

GST Collection remained strong: The gross GST revenue collection in the month of February 2023 stood at Rs 1.49lakh crore, up around 12% on an annual basis. With this, the monthly GST revenues remained over Rs 1.4lakh crore for 12 straight months in a row.