BENGALURU: The market for luxury goods and services is set to contract 30-50% this year, consulting and advisory firm Luxury Connect said in a report, with high-end automobiles and premium real estate expected to bear the brunt because of the Covid-19 pandemic and its resultant economic crisis. Beauty and skin care, as well as wines and spirits were the least impacted during the lockdown to stem the virus outbreak, it said. “Around 55% of the respondents feel that conspicuous consumption will be replaced by conscious consumption. Majority of respondents believe that the pandemic is likely to alter the luxury consumer’s behaviour and 45% of them feel that this is perhaps going to be the biggest challenge for them to tackle,” said Abhay Gupta, CEO of Luxury Connect. Most luxury brands feel that the negative impact of the outbreak will linger even after the lockdown is lifted, it said in the ‘Impact of Coronavirus on Luxury Industry’ study. “Around … [Read more...] about ‘Conscious’ connoisseurs may hurt luxury market
Market bull or bear
NEW DELHI: Nifty50 climbed for the third straight day on Friday and closed around its intraday high, forming a bullish candle on both daily and weekly charts. The index has been forming higher highs and lows for the past few sessions and analysts do not see the positive trend reversing unless a bout of selling takes the index below the 9,300 level in the near term. MACD has generated a fresh ‘buy’ signal on the daily chart, following Friday’s price action, said Mazhar Mohammad of Chartviewindia.in. Besides, the index has decisively closed above its near-term hurdle at the 55-day EMA of 9,518 on the weekly charts, he said. For the day, Nifty closed at 9,580, up 90.20 points or 0.95 per cent. The index traded above its short-term 20-day and 50-day moving averages all through the session. Nagaraj Shetti of HDFC Securities said as per weekly chart, Nifty has formed a long bull candle after forming a bullish Hammer candle pattern last week. “This could be an … [Read more...] about Tech View: MACD generates fresh buy signal, Nifty bias remains positive
A higher inflation might actually be good for the overall sustenance of wages and incomes and also of employment in this country, says Suresh Narayanan, Chairman & MD, Nestle India. What is your view on the monetary policy and how the global policy on inflation is going to move because higher inflation means higher raw material prices which could be bad for your margins in this kind of an environment? Given that there is a lot of liquidity in the world and central banks are likely to follow a loose monetary policy, as a commodity consumer are you worried about hyperinflation coming back in the second half of this year and are you preparing for it?Once the panic of the pandemic settles down, most certainly, some amount of inflation would come in. It would also come in because some of the demand outlets are unfortunately stunted now because of the pandemic and these would also start to open up. I do not profess to be a great economist, but I think a certain level of healthy … [Read more...] about Even during Covid times, Nestle innovated and launched products: Suresh Narayanan
New Delhi: Highways builder Dilip Buildcon on Friday said it has raised Rs 100 crore through allotment of NCDs on a private placement basis. The company said it has allotted 1,000 Non Convertible Debentures (NCDs) of face value of Rs 10 lakh each. "The debenture committee of directors...today allotted 1,000 rated, senior, secured, listed redeemable, NCDs, rupee denominated face value of Rs 10,00,000 at par aggregating to Rs 100 crore in dematerialized form, bearing a coupon rate 8.75 per cent per annum annualized to identified investors on private placement basis," the company said in a BSE filing. It said the debentures are proposed to be listed on BSE. Last year, the company's board and the AGM had given nod for issuance of NCDs on private placement basis. … [Read more...] about Dilip Buildcon raises Rs 100 crore through NCDs
Notwithstanding the government’s decision to resume air traffic in the country, demand for commercial airlines is least likely to revive anytime soon given the impact of the pandemic on leisure travel and fast adoption of technologies that enable remote working for enterprises. In addition, analysts believe that the government’s stance to cap ticket prices will affect the sector’s profitability since airlines would be unable to cover fixed costs. According to industry trackers, after resuming services amid a nationwide lockdown that has lasted beyond two months, airlines will largely have to cater to the stranded passengers for at least the first 15 days. Once this phase is over, they may face demand slump owing to two factors. First, the rapid spread of Covid-19 has affected leisure travel, which constitutes a large part of total travel spending. Second, technological services such as videoconferencing, digital applications and frequent use of webinars for … [Read more...] about Can airlines weather the Covid storm?