There is indeed a shortage, and discounts have virtually disappeared, not just for air conditioners but also for refrigerators and air coolers. Companies like Voltas performed well initially, but their recent results, especially in the EMPS space, were disappointing.
S&P 500, Nasdaq post best quarter since 2020 despite Iran war
Indian markets closed the quarter on a high, mirroring global trends with significant gains for the S&P 500 and Nasdaq, driven by optimism around economic