Coronavirus resurgence in India will delay earnings recovery: Moody s ANI | Updated: May 17, 2021 18:01 IST
Singapore, May 17 (ANI): If coronavirus infections in India fail to decline to more manageable levels, lockdowns may be prolonged and widen which will have a more severe effect on companies earnings recovery, according to Moody s Investors Service.
So far, the largely regional and less stringent lockdowns amid the second wave have had a limited impact on economic activity. Movement restrictions and weaker consumer sentiment amid the second virus wave will hit housing and automobile sales as well as transportation-fuel demand temporarily, said Moody s Analyst Sweta Patodia. Still, rising consumer preference for remote working and personal mobility solutions will drive long-term demand for bigger homes and entry-level cars, she said.