Tanishk_Ojha Hi-Tech Steel Pipes So for FY 24, for next 5 to 6 months that we are having, so the order book is strong until March. So for next financial year, we'll have to wait for how the results and everything pans out. But I can give you guidance until March. So until March, 1 don't think any slowdown in Jal Jeevan Mission until March. SRG Housing Finance Disbursement in business will take time at the time of elections, because all the government employees are involved in elections. Things like legal report or all the other government related work will get slow. There is no issue with the quality or any other thing. It’s the government offices related work that gets delayed. Getting certificates from Gram Panchayat, Regional government offices become slow, getting required information at desired time will get affected. Supreme Industries We are not in government business much. Election is already going to happen in this quarter only. In January, March, there is no election. Marico We have seen some recovery since the second half of September and we are optimistic about the gradual pickup in consumption with the onset of festive season, range bound retail and food inflation, and government spending between now and the elections. Steel Strip Wheels If you look at in terms of Q2 versus Q2 there is a jump of almost 29% in volume in the CV segment. As we believe that this probably growth will continue for the rest of the year with the election stated next year. I guess there will be an additional impact that we'll see with election coming in from the government spend on infra side. So we believe that this cycle will sustain. Minda Corp Tractor industry would continue to witness healthy retail momentum in second half given healthy subsidy flow ahead of elections in multiple states. Music Broadcast Mahindra Finance And this year, given also that the elections in various states, etcetera, etcetera, we believe the rural support and on-ground activity at rural will support our thinking of why and how we think that it can lead to all of this and with an asset growth of 20%, I think overall, we feel that we have had a good quarter to start with leading into the next two quarters, led by good positivity on the ground and as well as the good festival sentiments that we have witnessed. Premier Explosives I think the encouragement to Make in India has started almost 15 or more years back, it is only getting better and improved more and more with the consecutive governments, so I do not think any adverse effect will come based on the political situation because today we have already transformed from importing country to manufacturing country and exporting countries, so I do not think that is going to affect us. Jindal Saw Political stability seems to be very strong even though we are entering the election year, but the results, the probabilities and the predictability is very high. So all put together, it all suggests that we indeed are in a sweet spot and all the saplings that were grown have grown and are beginning to blossom their fruit at the right time. So a good environment and we are absolutely there, ready to take advantage of all the opportunities that are being thrown open at us. Nuvoco Vistas Corp Strong pre-election spend expected prior to Union & State Assembly elections scheduled in 2024. Asian Paints Government spending, I think has been good. It has given a fillip to the rural demand also in support. Obviously, we'll have to see this in the context of the elections, which are coming up in terms of how it really behaves. As we see Industrial Businesses are doing quite well. Home Décor, we are quite confident that with the demand in terms of the real estate, which is picking up after the monsoon is over, I think it should really give a fillip to the overall Home Décor business going forward. Voltas The general elections may slow down capital spending by the central government over the next few months. However, the long- term commitment of government towards improving infrastructure remains intact. Private capital spends are expected to continue on the back of the production-linked incentives announced across sectors. Mahindra Logistics The rural market was initially expected to rebound to lower inflation, rising income levels at the beginning of this year. We've not seen a significant change in many ways. Still, we are seeing a consistent improvement with our clients and expect the industry to recover through the upcoming holiday session. And as the liquidity pressures relax and government spending increases with the upcoming elections, we do see a positive move there. ICRA Domestic economic activity witnessed a healthy albeit uneven momentum in Q2 of this financial year. While there was an improvement in urban consumer confidence levels with continuing demand for contact in intensive services, the demand for goods was mixed, as were the trends in private sector investment activity. There was an encouraging front loading in CAPEX by the Government of India and the states even as we remain circumspect that momentum could slow as we approach general elections. Kajaria Ceramics You know in last six months of the year if you take it historically for the last 10 years at least the growth has always been better. Whatever you plan happens so holiday will always come, Diwali will always come either in October and November and Chhath will be there all that. Elections per se are beneficial. Whenever local elections are there or national elections are there there is more work in the system. They try to clear more projects so that work can take place so basically it is positive, positive and positive. Polycab Creditaccess Grameen Som Distilleries and Breweries During the times of election there are certain disruptions in the terms of supply because the excise also becomes stricter. But I think given the kind of volume we are expecting I think those short-term aberrations will be negated.
Tanishk_Ojha TCI Express Tinna Rubber and Infrastructures When we see that pipeline, we actually expect very good sales in H2. Many states are going into elections, the country will go into elections soon. So, there is a high motivation on part of government to finish ongoing projects and our product is used right at the end. IIFL Securities Ultratech Cement Jindal Stainless Astral I do not think it is going to affect too much because of the election. The reason is very simple that our company’s dependency on government project, it is very, very thin. Except Rex product that is a double wall corrugated that is related to the government projects and that too we have converted sizeable business of racks also into the private projects because our forte is more on the private side of the business than the government side of the business. So I do not think it is going to affect a big way to our company because our dependency on the government is very low. Anand Rathi Wealth We did an analysis of the last five general elections. Elections generally are perceived by an investor to be an adversity. But all five years, if somebody were to invest just six months before election - general election and exited six months after general election, all five times you would have made a positive return. That was a surprise to me. Even a one year investor plus or minus six months with a general election in the middle has always made positive return, and 10% is the minimum return and 16% is the average. JTL Industries Dhampur Bio-Organics Well, this is an election year, so Yes, we do believe there would be an increase in cane price. But the UP government has been following a fairly rational growth and increase in cane price. So the FRP grew by about INR10, and historically when the FRP was increased by INR10, the ethanol prices would be increased correspondingly to about INR2. So that is the reason for our belief in increasing ethanol price. And looking at election year, looking at the sugar prices, yes, it is reasonable to expect some increase in cane price in UP also. KNR Constructions With a General Election around the corner, the government continues its thrust on overall infrastructure development. The same is also reflected in the MoRTH’s commitment to utilize substantial portion of its FY24 budgeted capital expenditure by December 23. This also augurs well for this sector, as this will result in good project awarding activities towards H2 of current financial year.
Tanishk_Ojha Infoedge India I have no idea how this works. In the past, at least what we have seen is that actually, governments spend more in that election time. And that results in high demand for a lot of products. And while hiring in some sectors may slow down, like you said, if the government is spending money on capex, they may sort of. I don't know how it works. But in general, you know, there is more money sort of spent at election time. And that results in more demand for goods and services, and that will result in hiring in other sectors. But, I don't know how this plays out, I don't think it's going to have any material impact on the business. Campus Activewear It's just that some of the core markets in the Northern territory especially UP and Bihar were not performing as per expectation because of severe macro downturn and people witnessing a key kind of a recovery in these markets, especially Tier-2, Tier-3 markets were very sluggish. They have started bouncing back and with the onset of festive, the real hope is the macro would gradually improve, inflation will subside and with more farm income coming into place along with the elections, we expect these markets to also bounce back. But going forward, we believe due to many reasons that it's been a good monsoon this year, the festive season as well and the elections also coming up very soon, we believe that H2 second half of this year should result in better demand along with complementary margins. Hero Motocorp So I think overall, good monsoon, the election, the festival, all of these things are all pointing towards a good festival season that is coming up and we are preparing for that. IRCTC You know how Vande Bharat trajectory is going on. And then we did always a program of India Ministry of Railways to announce new trains, announce new services, increase the frequency of trains, extension, election specials, we have lot of scope to do the Catering business.