The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
The previous two sessions have seen benchmark indices, the BSE Sensex and Nifty presenting signs of fatigue, reaching closer to its all-time highs level. Both indices are down approximately 1 per cent from recent highs and 2 per cent away from reaching a new peak. This has led to confusion on the street about its ability to reach another milestone. The present bullish trend in the leading indices; which has displayed smart recovery since late March this year, remains intact as the market breadth continues to stay elevated.
After a two-year lull, the deal pipeline in India's hospitality sector, which has witnessed a strong revival since the second wave of the pandemic receded, is running full. Family offices, high net-worth individuals (HNIs) and institutional investors are looking at the sector with renewed interest, according to investment and transaction advisory firms working on multiple deals. Most of them declined to divulge details of the deals for reasons of confidentiality. The cumulative debt of the tourism, hotels and restaurant sector rose 8.2 per cent year-on-year (YoY) to Rs 64,408 crore as of March 25, 2022 against Rs 59,519 crore on March 26, 2021, according to the Reserve Bank of India.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
In an attempt to allay concerns of the US-based hospitality chain, Indian Hotels Co Ltd vice-chairman R K Krishna Kumar, in a letter to Lovejoy, said the Tata group firm would like to engage in a constructive dialogue.
Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
In 2020, after the outbreak of the Covid-19 pandemic, several five-star hotel chains commenced home delivery of food as a lot of people preferred to stay indoors. A year later, as the Covid situation worsens, such hotels are going the extra mile to cater for the gastronomical needs of their customers. With health, nutrition, and immunity occupying the mind spaces, these hotels are crafting menus that are not only high on health quotient, but also have food capable of improving the mood. The move, they hope, would help them get more customers as prices are also competitive.
Indian companies had invested $7.34 billion.
Hotels are also relying on couples who had earlier planned destination weddings but are now considering options within the country.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ratan N Tata, chairman, Tata Sons, and chairman, Indian Hotels Co Ltd said that the terrible wanton attacks on Wednesday night on innocent people and the destruction of prominent landmarks in India deserve to be universally condemned.
Following the horrific terror attacks in Mumbai that have left more than 100 people dead and 300 injured, Ratan Tata, chairman Tata Sons and of Indian Hotels Co Ltd -- which owns the Taj group of hotels -- has condemned the killing of innocent people.
In a bid to expand its presence in the US market, Indian Hotels Co, operator of Taj hotels, resorts and palaces on Tuesday said it will acquire US-based Hotel Campton Place for around Rs 264 crore ($ 60 million).
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
Few of these highly sought-after socialising and networking hubs are seeing much activity as regulars are missing in action.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The notices from the stock exchanges followed reports about Cyrus Mistry disclosing possible writedown to the tune of $18 billion faced by the conglomerate
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
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