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“Even as the grim prospects of hard landing have receded, global growth is likely to remain low by historical standards in the medium-term,” RBI Governor Shaktikanta Das said.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be conv...
According to a Jefferies report, while the premium consumer segment comprising premium apparel, jewellery and paints reported double-digit growth, most other mass-oriented companies reported weak to moderate demand trends