Economy Returning to Normalcy: Jefferies highlights Covid-19 Recovery in India
Covid-19: Jefferies recovery tracker was 99%+ for December, exiting at a 100% rate, indicating that the economy is normalising fast. Sustenance of recovery post the festive season is reassuring. Urban indicators for travel & realty have seen good improvement. Record GST collections align with several broad indicators' strength. No COVID second-wave so far has been a relief. Jefferies maintain their pro-recovery stance on banks, property, materials & industrials.
Urban indicators are continuing their climb back, but are still below pre-Covid highs. Congestion levels & workplace mobility reached their best levels since Feb, but are still 15ppt below pre-Covid levels: Reuters