2Q GDP indicates growth rebounding in the Economy: Angel Broking

Views of Mr. Vaibhav Agrawal (Head of Research and ARQ):

"India's 2QFY18 GDP growth at 6.3% (vs. consensus 6.4% ) has shown a that economy is coming back to the growth path. In 1QFY18, GDP growth was 5.7% so at 6.3%, we believe that the economy has clearly shown its trajectory which is the most important thing at the moment. The recovery is also reflected in GVA numbers which grew by 6.1% in the 2QFY18 vs. 5.6% in 1QFY18. The rebound is seen in the electricity, manufacturing, construction and mining sectors whereas services sector is yet to recover.

The numbers clearly indicate that economy is slowly coming out of the impact of the demonetization and GST. With the lower base of third and fourth quarter and with ongoing recovery, we believe that second half GDP numbers are likely to be far better than first half and we believe that FY18 GDP growth is likely to be around 7%."

Source : Equity Bulls

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