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Positive Start to the Day
Mon, 6 Jun 09:30 am

Major Asian stock markets have opened the day on a mixed note with stock markets in Indonesia and Singapore are trading higher by 0.6% and 0.5% respectively. Whereas, stock market in Japan is trading lower by 0.6%. Benchmark indices in Europe ended their previous session on a disappointing note. The rupee is trading at 67.25 per US$.

Indian stock markets have opened the day on a positive note. The BSE Sensex is trading higher by42 points (up 0.2%) and the NSE Nifty is trading marginally higher by 7 points (up 0.1%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.1% and 0.3% respectively.

Major sectoral indices have opened the day on a mixed note with stocks from metal and telecom sector witnessing maximum selling pressure. While, stocks in the realty sector are witnessing buying interest.

Indian Hotels Co, which runs the Taj chain of hotels, is aiming to boost its revenues through the online platform. The company is aiming to earn almost half of its revenues through the online booking in the next five years. Currently, this ratio stands at around 25%.

In order to boost the online sales, the company has made significant investments to develop its own website. In addition to this the company has launched a mobile app and re-launched most of its loyalty programmes to acquire more customers directly.

As reported in Livemint, online travel agents charge hotels around 10-35% commission for every booking. While, the cost of acquiring customers is just about 6% when hoteliers do it directly through their websites or apps. Acquiring customer directly would help the company to save on costs and protect profit margins.

Going forward, the increase in tourism and economic activity will be the key things to watch out for in order to assess an improvement in the hotel industry.

In another news update, data compiled by the Centre for Monitoring Indian Economy (CMIE), indicated a small rebound in the capital expenditure.

Reportedly, the net fixed assets created by the Indian corporate sector expanded in the last two six month periods. Further, capital work in progress (CWIP) is also showing good traction. CWIP witnessed a growth of 2.24% YoY for the six months ended March 2016. This CWIP had contracted for nearly 24 months before this period.

These two parameters are showing a gradual revival in the business confidence. However, a sustainable growth in capital expenditure in the coming quarters will substantiate the view of the revival in the business confidence.

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Mar 16, 2018 (Close)