ICRA: Centre’s Infra Drive To Drive Mining And Construction Equipment Industry:

New Delhi, Nov 23, : , The Centre’s focus is on building Infrastructure and is expected to Drive demand in the mining and construction equipment sectors in the calendar year 2021.Icra Ratings stated Tuesday.
The sector is expected to grow at around 15-17 percent in 2021, as opposed to its earlier estimate of 15-20%.

 Icra: Centre’s Infra Drive To Drive Mining And Construction Equipment Industry:-TeluguStop.com

“Patchy monsoons, along with price rises against a backdrop that stagnant equipment rental yields have had an impact on customer sentiments and in turn volume,” stated Mayank Agrawal (Sector Head and Assistant Vice President, Corporate Sector Ratings).

He said that while volumes are expected to rise sequentially in Q3 CY2021, Q4 CY2021, they will remain weaker than Q3 CY2020.

He said that Icra’s outlook for the sector is stable due to the Centre’s Infrastructure pushes and favorable growth prospects.

“With the expected easing supply-side constraints, continued Infrastructure push, Icra anticipates volume growth of 7-10% during CY2022.Agarwal stated that there are downside risks to our estimates due to rising costs of ownership, low rentals, and any slowdown in Infrastructure activity.

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