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Demand engine restarts, margin tailwinds fade
Mint Chennai
|February 21, 2026
kaj Pandey, head of retail research at ICICI Securities.
“In fact, auto makers are facing margin pressure amid rising aluminium and noble metal prices. This can worsen if steel prices rise after the 12% domestic safeguard duty. We also expect elevated refining margins for oil marketing companies to normalise.Sectorally, banking, financial services and insurance (BFSI) companies outpaced both broader India Inc and the non-BFSI cohort. BFSI's revenue growth rose to a six-quarter high of 14.5% yo-y, the analysis showed.
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