Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

India Hotels, restaurants and leisure / Thematic (Sector/Industry)

<ul><li>In 4QFY22, we expect the Hotel sector to report healthy improvement in RevPAR post the third covid wave, supported by: (a) leisure travel (b) festive and wedding season (c) MICE events and (d) corporate travel.</li><li>Post the Omicron wave, there has been a steady increase in corporate travel, with easing of regulatory restrictions.</li><li>Leisure travel continues to be strong due to vacations, staycations and weddings etc.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In 4QFY22, we expect the Hotel sector to report healthy improvement in RevPAR post the third covid wave, supported by: (a) leisure travel (b) festive and wedding season (c) MICE events and (d) corporate travel.Post the Omicron wave, there has been a steady increase in corporate travel, with easing of regulatory restrictions.Leisure travel continues to be strong due to vacations, staycations and weddings etc.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hospitality and Logistics: Leisure Demand Remains Strong; Corporate Travel Rebounds