Mid-Caps Q1 Preview - Flattish Sequential Growth In The Offing: Reliance Securities

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Reliance Securities Report

The mid-cap companies under our coverage universe are expected to witness flattish sequential growth in Q1 FY22, as strong demand momentum witnessed in H2 FY21 was halted due to the second Covid-19 wave from mid-April 2021 with utilisation declining by 30-40% in April-21 and May-21.

Demand also remained subdued during this period due to limited market hours across several states.

However, gradual improvement was witnessed from June-21 onwards with steady decline in Covid-19 caseload in most states.

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