India’s service sector activity downturn eased in the month of August, however, the latest reading, by coming in below the 50.0 neutral value again, indicated a continued decline in business activity. As per the survey report, the seasonally adjusted Nikkei Services Business Activity Index was at 41.8 in August from 34.2 in July. Further, the Nikkei India Composite PMI Output Index -- which measures both manufacturing and services - was at 46.0 in August from 37.2 in July.
The report also noted that the ongoing coronavirus pandemic 2019 (COVID-19) restrictions continued to adversely impact client demand and business operations. New business and output continued to contract at marked rates, albeit slower than the records seen in April and May. Restrictions also contributed to a record increase in outstanding business.
On the price front, service providers reported increased cost burdens for the second month running. The rate of input price inflation was slightly faster than seen in July, but marginal overall. Besides, in line with rising cost burdens, output charges grew at a marginal pace. Sustained revenue losses through the second quarter and increasing cost burdens led companies to raise charges for the first time since March.
Company Name | CMP |
---|---|
Bajaj Finserv | 1637.00 |
Paul Merchants | 1020.90 |
Data Infrastructure | 100.00 |
IIFL Finance | 408.35 |
Embassy Office Parks | 365.06 |
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