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MOSL: Morning India (14/September/21): 1. Technology (Business travel costs likely to remain benign in FY23); 2. AGIC: (Day 1: ‘MANAGEMENT SAYS’); 3. Tata Consumer Products; 4. EcoScope

MOrning India (14/September/21): 1. Technology (Business travel costs likely to remain benign in FY23); 2. AGIC: (Day 1: ‘MANAGEMENT SAYS’); 3. Tata Consumer Products; 4. EcoScope

 

Today’s top research idea

Technology: Business travel costs likely to remain benign in FY23

• With improving vaccination rate and reopening of economies, there is a growing expectation of IT services travel costs returning in FY23.
• However, recent surveys and industry commentary suggest that pickup in business travel would be a prolonged affair - as enterprises continue to keep a tight check on non-urgent travel.
• Commentaries from the travel heads of Cognizant and Capgemini further suggest that strong controls would continue to ensure business travel is only approved for the most essential purposes.
• Hence, we expect travel costs to continue to stay low and support the margins of IT services companies.
• Moreover, a tepid outlook for business travel could pose a risk to growth in the Travel vertical of IT services companies in FY23.

 

Piping hot news

Retail inflation eases further to 5.3% in August

India's retail inflation eased to 5.3 per cent from 5.59 per cent in July. This will be the second-consecutive month that the inflation will be between 4 and 6 per cent, which is the RBI’s tolerance band. Food prices fell by 3.11 per cent this month, causing the drop in inflation. After the pandemic hit, the global economy is now reopening and demand is recovering. This has driven up commodity prices globally.