Indian markets continued to trade above the dotted line in the last two hours of trade. Buying actively was seen in the consumer durable, auto and metal space, while stocks in the IT space were trading in the red.
BSE-Sensex is trading higher by 52 points while NSE-Nifty is trading higher by 17 points. BSE-Midcap Index is up by 0.41% while the BSE-Smallcap index is trading 0.39% above previous sessionís closing. The rupee is trading at 45.12 to the US dollar.
According to a financial daily, P&G is planning to launch its flagship brand Crest in India. The Rs 160 bn oral care market in India is largely consolidated with Colgate, HUL and Dabur controlling 90% of the market. However, P&G is already aggressively planning the launch of the toothpaste. The company has given the manufacturing contract to a third party and is talking to distributors and conducting market studies. It is expected that the company would price the product aggressively to garner market share even in the initial days. Moreover, the future group recently launched its own brand of toothpaste called Sach. While no new toothpaste has been able to establish itself in the last 20 years, we see the oral care space becoming more competitive in the coming days with these new entrants.
The zing seems to be back in the hospitality sector. Indian Hotels Company Ltd (IHCL), is expected to launch 15 new properties in the next 12-14 months. Of these 15, 10 properties will be branded Vivanta by Taj and 5 will be branded Gateway. Vivanta by Taj is an upper upscale/premium brand while Gateway is an upscale brand. The company expects a surge in corporate and leisure travelers and has already started work on these properties. Moreover, it has been reported that international hotel chains are making a fresh foray into India. With these launches, it is becoming clear that the sector is on an upswing