Commercial Serv. & Supplies share price target

Moving to the Next Orbit

Along with macro tailwinds, companies' own strategic initiatives will contribute immensely. We are bullish on the Appliances space, given low category penetration, aspirational consumers, consumer financing, government's electrification drive and rising disposable incomes. We hosted a Consumer & Media Investor Forum in Mumbai which was participated by 14 corporates. The theme was around companies benefiting from acceleration in consumer discretionary spend. We believe as India steps into a high-growth phase, consumer discretionary spending is set to grow with a higher-than-normal multiplier effect (1.5-3x GDP growth vs. 1-1.5x of GDP rate in slower growth periods).

We are structurally positive on India's Paper and Paper board industry and we believe that the industry is on a strong growth trajectory. The domestic Paper and Paper board industry will benefit from improvement in per capita usage (which is currently just 13Kg as compared to global average of 57Kg). Healthy growth of Food and FMCG, Retail and e-commerce sector will also aid the industry growth. The Government's thrust on promoting education through schemes like Sarva Shiksha Abhiyan, Rashtriya Madhyamik Shiksha Abhiyan, etc. would ensure Paper industry's growth momentum....