BofA backs India's affluent consumer; jewellery, premium retail seen most resilient into H2 FY26
BofA Securities' Aditya Mathur expects India's consumption recovery to gain pace in H2 FY26, with jewellery, premium retail and select staples leading. Affluent demand remains firm, though inflation and Middle East tensions cloud FY27 volume outlook. Nuvama echoes the premium tilt.
BofA Securities' Aditya Mathur sees India's consumption recovery gaining pace in H2 FY26, with jewellery, premium retail and select staples most resilient. Affluent consumer demand stays strong, but inflation and Middle East tensions cloud FY27 volume outlook.