Varun Manmohan Kapur
Their already high market shares got a further fillip as suppliers, distributors, financiers, customers all resorted to ‘safer’ and ‘trusted’ brands. Apart from growth, this enhanced market share provided a cushion against lock-downs, lowering demand during the pandemic, says Varun Manmohan Kapur.
This thesis is visible in the outsized returns over the last one year (during which there were 2 lock-downs) generated by these large private players with high market shares in their respective business segments (equity returns mentioned below exclude dividends):
Bajaj Finance – 95%
L&T – 79%
Asian Paints – 74%
Pidilite Industries – 71%
Titan Industries – 63%
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