Lockdown, slowdown or surge in sale in selected sectors?

Nihad Amani

Hyderabad: The global pandemic is draining the worlds of finance and business. Not just the daily wage workers or poor but also the hotels, malls, petrol stations and various other small scale businesses are going through immense losses.

Old City resembles a barren desert

The lad Bazaar, Abids, Sultan Bazaar, Tolichowki, Meer Alam Mandi, Sabzi Mandi, Monda Market, Mallepally and many more such markets are shut down amid the lockdown resulting in no income to numerous persons and financial losses to the people and the government.

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On the other hand, the income of persons like Radhakishan Damani, who controls Avenue Supermarts Ltd., has surged 5% this year to $10.2 billion, singling him out as the only billionaire with gains among the 12 richest Indians whose wealth is tracked by the Bloomberg Billionaires Index.

Not just a billionaire like him but also common men like the vegetable sellers, Kirana store owners, delivery companies, supermarkets and cigarette sellers seem to be earning profits.

“People have been buying in panic and hoarding during the lockdown that drove sales, making the company’s share a perfect hedge amid rout,” said Arun Kejriwal, director at Kris, an investment advisory firm in Mumbai.

Supermarkets like D-mart, More, Reliance Fresh, Ratnadeep, Heritage are witnessing surging sales during the lockdown.

Not just these supermarkets but also the stores in the lanes and by-lanes seem to have crowds rushing in for items even if they are sold at hiked prices.

One can see a number of ladies selling vegetables outsides their homes, right from their windows or in front of their gates as it is earning them well. Not just the vegetables but professionals like barbers and parlor artists are providing door to door service in their colonies with increased charges.

Pait ke khatir kuch bhi kar sakta” is probably be justified as there are a number of individuals standing on roads selling the homemade masks.

Meanwhile, “Majbori ka faida uthana” is very well carried out by many who are selling cigarettes at hiked rates. Cigarette brands that would cost Rs.100 are now costing Rs. 200 or even more.

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