The stock market situation is constantly changing. Investors have been eyeing the aviation sector, ICICI Bank, and hotel stocks looking for signs of a potential upswing. ChatGPT was a casualty, while the price of Platinum has been increasing lately. Quarterly earning reports have not been as bad as expected, and this might be the best time to invest in cyclical stocks such as associated with the aviation sector and hotel industry like Interglobe Aviation, ICICI Bank and Lemon Tree Hotels.
Oil prices have been steady and because of the recent insolvency of GoFirst, the Indian Aviation sector is likely to benefit from the sudden availability of workforce at all levels, resulting in lower recruitment costs. This seasonally strong quarter could be a bigger boost for the Indo-Gangwal family in terms of selling its stake in the airline. Analysis from Ameya Joshi suggests that airlines have been struggling to recruit professionals such as pilots, cabin crew, engineers, revenue managers and planners for some time now.
Analysts at Jefferies suggest that GoFirst’s loan from banks was around Rs 2,000 to 2,500 crore, with ICICI Bank having an exposure of Rs 350-400 crore, and Central Bank of India’s exposure up to Rs 700 crore. Lemon Tree Hotels’ CEO Patanjali Keswani has shared his optimism regarding the hospitality sector, expecting a 15% compounded growth in the price of hotel rooms but also expressing caution towards capacity addition following the strong numbers from Orient Hotels and Indian Hotels.
In the end, the reduction of the minimum lot size for Bank Nifty has had an interesting effect among discount brokers- it increases commission revenue significantly. As for Crypto, the top two countries for ownership of digital currencies are Turkey and Argentina, as both countries face high inflation and economic unrest. Cryptocurrency-based secure investments such as stablecoins have also seen a rise as a reaction to this situation.
Finally, Platinum prices have skyrocketed to a 13-month high due to power outages in South African mines and increased demand from the auto and hydrogen industries. ChatGPT has become a casualty in this, with the Chegg stocks crashing by 48 percent after the company announced the effect of ChatGPT on its growth.
Interglobe Aviation is India’s largest and most profitable air-transport service, with an extensive domestic and international flight network. ICICI Bank, on the other hand, is India’s second-largest private sector bank and one of the most valuable financial services companies in the country, with retail banking and investments being their main focus. The chain of Lemon Tree Hotels are spread widely across the Indian subcontinent, proudly providing quality hospitality in a formidable and sustainable manner. Finally, Puneet Chhatwal, the Managing Director & Chief Executive Officer of Indian Hotels, is one of the most prominent figures in the Indian hospitality industry, having led to significant growth of the Taj Group of Hotels.
