New Delhi: The combined market valuation of three of India’s top companies surged by Rs 75,855.43 crore last week, even as the overall stock market showed a sluggish trend during the holiday-shortened week.  

State Bank of India (SBI) and Infosys were the biggest gainers among the top firms. While the Sensex slipped 5.89 points, the Nifty inched up by 11.05 points over the week.

Commenting on Nifty technical outlook, an expert said that “immediate resistance is placed at 25,875, followed by 26,000 and 26,100 levels. On the downside, support is seen at 25,600 and 25,450.”

“A breakdown below 25,300 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised,” an analyst stated.

Among the top companies, ICICI Bank, SBI, and Infosys recorded gains, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro faced a combined erosion of Rs 75,549.89 crore in their market value.

Interestingly, the total loss of these seven companies was still slightly less than the total m-cap addition of the three gainers.

SBI emerged as the biggest gainer, with its market valuation jumping by Rs 39,045.51 crore to reach Rs 9,62,107.27 crore.

Infosys also saw a strong increase, with its m-cap rising by Rs 31,014.59 crore to Rs 7,01,889.59 crore.

ICICI Bank added Rs 5,795.33 crore, taking its market value to Rs 10,09,470.28 crore.

On the other hand, Larsen & Toubro’s market valuation fell by Rs 23,501.8 crore to Rs 5,30,410.23 crore, while HDFC Bank’s valuation dropped by Rs 11,615.35 crore to Rs 14,32,534.91 crore.

Bharti Airtel’s m-cap declined by Rs 6,443.38 crore to Rs 11,49,544.43 crore, Bajaj Finance saw a dip of Rs 6,253.59 crore to Rs 5,91,447.16 crore, Hindustan Unilever lost Rs 3,312.93 crore to stand at Rs 5,54,421.30 crore, and TCS’s valuation slipped by Rs 470.36 crore to Rs 11,60,212.12 crore.

After these movements, HDFC Bank remained the second most valued domestic company, followed by TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro.

UK inflation could have ticked higher last month, as Christmas getaways helped fuel price rises at the end of the year, economists have said.

Some economists are expecting the rate of Consumer Prices Index (CPI) inflation to have risen in December after falling sharply the previous month.

Rob Wood and Elliott Jordan-Doak, economists for Pantheon Macroeconomics, said they were forecasting CPI to rise to 3.3% in December, from 3.2% in November.

A hike to tobacco duties, which was announced at the autumn budget in November, is set to have pushed up overall inflation during the month.

The price of plane tickets and hotels are also expected to have soared amid stronger demand for Christmas travel.

Analysts forecast that airfares could have jumped by about 30% between November and December.

But economists stressed that the choice of date for the Office for National Statistics (ONS) to collect the latest inflation data would be crucial, as prices would have differed throughout the month.

If it was collected later in the month, travel prices could have been much higher in line with the school holidays, pushing up the overall rate of inflation.

Andrew Goodwin, chief UK economist for Oxford Economics, said he thought the slowdown in the rising cost of living was “temporarily halted” in December.

He said: “Some of November’s downward pressure came from volatile categories, including clothing, airfares, and accommodation services, and this is likely to have unwound in December, although the choice of date for collecting the data will likely have a crucial bearing on the outturn for airfares.”

He is predicting a much sharper increase of CPI inflation to 3.6% in December.

On the other hand, analysts for Barclays said they thought inflation would remain unchanged at 3.2% in December.

They forecast energy price inflation to have slowed, while food and drink price rises to have steadied at the end of the year.

But experts said they thought inflation was still heading downwards this year.

Victoria Scholar, head of investment for Interactive Investor, said that “longer term, the trajectory for inflation is still on the downside, heading back towards the 2% target later this year”.

“November’s budget from the Chancellor was largely viewed as disinflationary owing to its contractionary fiscal measures, including tax increases and spending cuts,” she said.

“Plus, there are growing signs of slack in the labour market, also easing inflationary pressures in the UK economy.”

Spent a fortune on a coffee machine and those exotic beans to replicate that cappuccino you loved overseas? You are not alone. For many rich Indians, the coffee machine on the kitchen counter is no longer just for making a drink, rather it has become a lifestyle statement, as more people are trying to bring the cafe experience they enjoyed overseas, right in their homes.A growing number of young, affluent consumers are spending several lakh rupees on high-end coffee machines, specialty beans and cafe-style equipment to mirror the ambience of European coffee houses. These machines, which offer far more than basic espresso or latte functions, have become objects of prestige. Brands such as Versuni, SMEG and DeLonghi are increasingly being displayed as centrepieces in kitchens and lounges, erasing the line between appliance and art.

India’s coffee craze

From only a few hunderds six years ago, now, almost 20,000 premium coffee machines are estimated to be sold locally, every year, a figure that includes direct imports by companies, ET reported. This does not includes the large number of machines that individuals bring into the country themselves while travelling abroad or order through international e-commerce platforms. With limited availability of high-end brands and models in India, parallel imports continue to rise. Ravi Saxena, founder and chief executive of Wonderchef Home Appliances, links this trend to the rapid spread of neighbourhood cafes across Indian cities. He says this has created strong interest in recreating cafe-quality coffee at home. A trained barista, Saxena sells about 1.4 lakh coffee machines a year, including premium automatic models priced between Rs 60,000 and Rs 90,000. The appetite for premium machines is also visible among frequent international travellers. Gurgaon-based hotelier Rajat Gera placed an order for an SMEG machine in December for Rs 1.3 lakh and is still waiting for it to arrive at Indian ports. “It’s a piece of art that deserves to be placed as a centrepiece in the kitchen or lounge,” he says. The overall coffee machine market in India is valued at Rs 250–300 crore and is growing at more than 15% a year. Total sales across price categories reached about 4.2–4.5 lakh units in the last calendar year, compared with roughly 1.8 lakh units in 2019. While machines priced up to Rs 15,000 continue to dominate volumes, premium models are steadily expanding their share.

Struggling for the right taste

For some buyers, the shift is rooted in dissatisfaction with cafe offerings at home. Satyendra Shukla, who runs a boutique investment firm, bought a La Carimali machine for Rs 1.5 lakh two years ago. “I had to struggle for every cup of coffee in India. No cafe could give me coffee I liked. The right texture, temperature or taste seldom came together. Now, my well travelled friends say I make the best coffee. I look after the machine and spend a lot of time sourcing the best beans.” Others are prepared to absorb heavy import costs. Kolkata-based independent professional A Banerjee purchased a Philips machine priced at Rs 57,000 from Amazon UK for Rs 95,000 after accounting for shipping, customs duties and currency conversion. Gulbahar Taurani, chief executive of Versuni India, attributes rising demand to young consumers exploring different beans, flavours, aromas and brewing styles, including coffee mocktails mixed with tonic water. He said the company’s pilot launch of premium models priced up to Rs 80,000 in India has been highly successful. Versuni plans to combine its global technology with adaptations for Indian preferences. While its entire range is currently imported, Taurani has not ruled out domestic manufacturing as volumes grow. Retailers are also reporting strong traction. Coffee machines are among the fastest-moving categories in stores. Vijay Sales sells 400–500 units every month. “Coffee machines have become a lifestyle product. While most of the demand is still in the entry- to mid-segment, premium models are also selling fast. This could become a big category in the next three to four years,” said Nilesh Gupta, director, Vijay Sales. What was once a simple kitchen tool is rapidly turning into a lifestyle statement, as coffee drinkers in the country are investing not just in caffeine, but in culture and cachet at home.