In anticipation of the inauguration of the Ram Mandir in Ayodhya scheduled for January 22, the city has experienced a significant surge in investor interest. Millions of pilgrims from around the world are expected to embark on pilgrimages to the revered site, prompting projections of a potential daily footfall reaching up to 3 lakh individuals.
The heightened spiritual tourism, coupled with the natural boost the tourism sector usually experiences during the third quarter, has led to a surge in hotel and travel stocks. Six notable stocks have come into focus as the Ayodhya Ram Mandir inauguration approaches
L&T
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Since securing the prestigious ‘Shri Ram Janmabhoomi Temple’ project in November 2020 for the construction of Lord Ram’s temple in Ayodhya, Larsen & Toubro (L&T), the engineering and construction major, has experienced a robust uptrend in its stock performance. Over the course of three years, the share price of this infrastructure giant has transformed into a multibagger, rallying more than 233%. Starting at Rs 1,080 on November 17, 2020, the stock reached Rs 3,605 on January 15, 2024.
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On Monday, L&T’s shares reached an all-time high of Rs 3,605.55 with the market capitalization to Rs 4.92 lakh crore. The stock has demonstrated a remarkable ascent, posting a 74% increase from its 52-week low of Rs 2,073.85 recorded on January 31, 2023.
Apollo Sindoori Hotels
Chennai-based Apollo Sindoori Hotels has witnessed a remarkable 43.64% surge in its shares over the last month, closing at Rs 2,307.45 on Wednesday on the NSE. The hospitality service management and support services company is currently constructing a multi-level parking facility in Ayodhya’s Tedhi Bazar to accommodate visitor vehicles. Spanning over 3,000 square meters, the structure includes a rooftop area dedicated to restaurants, capable of accommodating over 1,000 devotees simultaneously.
Indian Hotels (IHCL)
A large-cap stock with a market capitalization exceeding Rs 73,000 crore, IHCL is perceived as a beneficiary of the travel boom in India. While the stock has surged by 23% in the last month, its properties in Ayodhya are expected to be operational only in early 2027. IHCL has signed agreements for two greenfield hotels in Ayodhya under the Vivanta and Ginger brands.
IRCTC
Enjoying a monopoly in online train ticket bookings, IRCTC is also in focus as millions are expected to travel to Ayodhya in the coming months. The PSU stock has witnessed a 23% increase in the last month. Come from Sports betting site VPbet
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IndiGo
Initiating daily flights between Ayodhya and Delhi, IndiGo has also commenced thrice-weekly flights connecting Ahmedabad airport and Maharishi Valmiki International Airport in Ayodhya. The stock has gained over 2% in the past one month and over 14% in the last six months.
Praveg
Shares of Praveg, the company running luxury tents in tourist destinations across India, have surged by 47% in just three days to reach Rs 1,219.10 on the BSE. Last November, the company inaugurated a luxurious resort along the Brahma Kund in Ayodhya, featuring an ultra-luxury tent city with a capacity of 30 tents and a dedicated restaurant. Praveg has also gained attention for winning a contract to establish tents in Lakshadweep.
