ITC Hotels- The Grand Central, The Luxury Collection, in Mumbai, has recorded a 15 per cent rise in bookings for September month as compared with last year's booking of 60 per cent for the same month.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
Nestle surged 4.25 per cent after the FMCG major reported 4.94 per cent increase in net profit at Rs 688.01 crore for the quarter ended December 31, 2024. IndusInd Bank, Titan, Tata Motors, Tata Steel, ITC and Maruti were the other major gainers. ITC Hotels, Bharti Airtel, Bajaj Finserv, Bajaj Finance and ICICI Bank were among the laggards.
The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.
The rooms will be priced between Rs 1,000 and Rs 1,400, based on the location, and will provide a basic room and dining service, gym and a wi-fi connection.
'If the Indian government actually delivers on the infrastructure plans, the hospitality sector would double itself by 2025.'
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
ITC's results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division's performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
From free salons to discounted room rates, hotels are offering it all.
Hotel room tariff in Ahmedabad, airfares shoot up ahead of India-Australia final
ITC's first foreign venture in the hotel space - a premium and luxury mixed-use development - has been "adversely impacted" by Sri Lanka's economic crisis, the firm said. The $300-million project under WelcomHotels Lanka (Private) Limited (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo. In its latest annual report for financial year 2021-22 (FY22), ITC mentioned that the project's construction was running on schedule till the third quarter (Q3) of FY19, but was adversely impacted due to disruptions in the aftermath of the terror incidents in 2019 and thereafter by recurrent waves of the Covid-19 pandemic.
A vegetable curry made using the signature vindaloo paste.
The hospitality industry has seen plenty of interest since the catastrophic impact of the pandemic, which led to losses in FY21. The hotel industry market cap has more than tripled since 2019 on the combination of a strong earnings rebound and positive surprises, as well as three recent listings. The industry has good tailwinds. The anticipation is, demand for rooms will outrun supply for a few years despite capacity expansions.
Cases filed in 3 high courts.
Total income during the reported quarter stood at Rs 11,776.63 crore as against Rs 10,258.13 crore in the year-ago period
Vance is expected to be accompanied by at least five senior officials, including from the Pentagon and the State Department, the people cited above said.
The facility, which will manufacture nicotine and nicotine salts, will conform to stringent US and EU pharmacopoeia standards that define purity levels at 99.2 per cent for nicotine meant for pharmaceutical products. ITC will leverage the institutional capabilities of its century-old leaf tobacco business for this. ITC's cigarettes business saw disruptions across the value chain with the onset of the Covid-19 pandemic. The company mentioned in its annual report that with easing of restrictions and improvement in mobility from September 2020 onwards, the business recovered progressively over the remainder of the year to reach nearly pre-Covid levels towards the close of the year.
The Indian team, set to play the second Test against Australia from Friday, had to switch hotels in New Delhi.
With demand drying up, hotels are surviving on quarantine centres and isolation facilities.
'Demand in India has been outstripping supply.'
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in fiscal 2023-24 (FY24). Analysts believe there could be more gains in store over the next one year for the stocks in this sector, but suggest investors put in money on a correction only from a long-term perspective. Hotel stocks, according to A K Prabhakar, head of research at IDBI Capital, have seen a good run as travel picked up post Covid in India. Not only have the room rents increased, the occupancy, too, has surged.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
Unlike global majors like Lindt and Godiva no standalone Indian chocolate boutiques have expanded into a national chain yet. ITC plans to change that with its luxury chocolate brand Fabelle, says Avishek Rakshit.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
Speaking at the banquet she hosted in President Dissanayake's honour, President Murmu said Sri Lanka is an important part of India's 'Neighbourhood First' policy and New Delhi would continue to support Colombo's efforts for economic development.
ITC is one of those few enterprises in the world that has traversed a 100 year journey and has yet managed to remain contemporary, relevant and competitive.
Billionaire Mukesh Ambani's Reliance Jio is India's strongest telecom brand in India, ahead of Bharti Airtel and Vodafone Idea Ltd, according to brand intelligence and data insights company TRA. TRA, formerly Trust Research Advisory, in its 'India's Most Desired Brands 2022' ranked companies according to their brand strength. Reliance Jio topped the telecom category, followed by Bharti Airtel, Vodafone Idea Ltd and BSNL.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
US Vice President J D Vance and his wife Usha arrived in Delhi on Monday for a four-day visit. They were welcomed by Union Minister Ashwini Vaishnaw. Vance's visit comes amid ongoing trade talks between India and the US. Prime Minister Narendra Modi will host a dinner for the Vances on Monday evening after holding talks with the US Vice President. Vance and his family will also travel to Jaipur and Agra during their trip.
Hotels are also relying on couples who had earlier planned destination weddings but are now considering options within the country.
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
Surya Kumar Yadav showcasing the celebratory spirit with some lively dhol dancing upon arrival.
India is leaving no stone unturned in the grand welcome and stay of China's President Xi Jinping during his visit to the shore town of Mahabalipuram for his second informal summit with Prime Minister Narendra Modi. From a grand welcome to cultural programmes, Jinping is getting the royal treatment. During his stay for the summit, Jinping will be housed at ITC Grand Chola Hotel, a 5-star hotel, where comfort and opulence is guaranteed. Take a look.
