Covid-19 second wave to hit Gems and Jewellery; auto dealers: Crisil

Six of 42 sectors covered by study are highly sensitive to a pandemic resurgence, while 20 are moderately sensitive

The surge in Covid-19 cases since mid-February 2021 may to hit the gems & jewellery sector and automotive dealerships, which have so far benefitted from the release of pent-up demand, according to rating agency Crisil.  

Somasekhar Vemuri, Senior Director, Crisil Ratings, the sharp rise in Covid-19 cases and the impact of any stringent containment measures on businesses are the key threats to the nascent demand recovery. They could impact the credit quality outlook adversely.

Out of 42 sectors covered by study only six (accounting for four per cent of rated debt) are highly sensitive to a Covid-19 resurgence, while 20 are moderately