As Ayodhya City prepares for a grand inauguration of the Ayodhya Shri Ram Mandir, the city suddenly witnesses an outpour of investors as millions of people across the world plan to visit the city to pay their respects to Lord Rama.
People are already travelling to Ayodhya in huge numbers, and it is anticipated that over 3 lakh individuals will be visiting the city every day. The drive for domestic tourism and spiritual tourism, together, has led to the rise in hotel stocks and a few other industries. Here are some stocks that seem to be profiting because of the Ram Mandir inauguration program:
Tourism Industry and Travel Agencies
Travel agencies and tour operating companies like EaseMyTrip, MakeMyTrip, Thomas Cook (India) Ltd., and RateGain Travel Technologies Ltd. have been flooded with bookings and inquiries. Their stocks have jumped to 13% in just five days.
People have been booking their tickets to Ayodhya to witness the grand ceremony and pay their respects to Lord Rama. Millions are expected to visit Ayodhya, for which they are planning to run many special trains to accommodate the travellers.
All hotels – big and small have been preparing to welcome guests. In fact, most of the rooms have been booked. Room rates for luxury hotels are as high as Rs. 73,000 per night. More than 100 new hotels have been constructed or under construction in the last few months. All have been gearing up for the momentous day of inauguration.
Indian Hotels Company Limited
A part of the Tata Group, IHCL has signed agreements for two greenfield hotels under the Ginger and Vivanta brands in Ayodhya. Their stocks have risen up by 23%.
The stock for Praveg Ltd. went up by 47% as they are awaiting the inauguration of their new resort on January 15, 2024. Praveg is known for its unique tent stays. Their resort is located at the Brahma Kund in Ayodhya. There are 30 tents in this resort and each stay per night is being charged for Rs. 30,000.
Apollo Sindoori Hotels
A massive parking facility is being constructed by this company in Ayodhya at the Tedhi Bazaar. The parking facility is made on 3,000 sq. meters of land and has a rooftop restaurant where 1,000 people can dine at a time. They witnessed a surge of 32% in their stocks as they closed at Rs. 1,998 this Tuesday.
Genesys International is responsible for city navigation. They have integrated 2D navigation and a 3D representation of Ayodhya city in their map. The company’s stocks soared by 7%.
Considering the influx of devotees visiting Ayodhya. Indigo has introduced daily flights between Ayodhya and Delhi. They have also introduced thrice-a-week flights between Ahmedabad and Ayodhya. The stocks for this airline company also witnessed a jump.
Disclaimer: As received by reliable sources, there may be changes in the rates and the percentage of rise.