Updated January 22nd, 2024 at 20:04 IST
Ram Mandir consecration: 10 stocks poised to gain from the Ayodhya moment
The city of Ayodhya is expected to attract over 300,000 devotees daily over next few years, creating a lucrative market for businesses operating in the region.
Ram Mandir stocks: The highly anticipated Ayodhya moment has happened with the Pran Pratishtha ceremony on January 22, 2024. The share prices of several companies, linked to the temple's and the city's development, have significantly gained during this period. Investors are eyeing opportunities in the hospitality, tourism, and related sectors as Ayodhya transforms into a significant religious tourism destination. Reports suggest that the city is expected to attract over 300,000 devotees daily over the next few years, creating a lucrative market for businesses operating in the region.
Shares of Praveg Ltd, an Ahmadabad-based experiential tourism company, have surged nearly 200 per cent in the past year. The company, established in 2005, specialises in luxury tent cities and resorts, including the recently opened ultra-luxury tent resort in Ayodhya. The surge in stock value indicates a growing interest in Praveg's offerings, with a notable increase ahead of the temple's inauguration.
Kamat Hotels India Ltd
Kamat Hotels has witnessed nearly 200 per cent gain in stock value in last one year. The smallcap company, with a market share of less than Rs 900 crore, is expanding its presence in Ayodhya by planning a new 50-room hotel and announcing the opening of two more hotels in the temple town.
Allied Digital Services Ltd
Mumbai-based Allied Digital Services, serving as the Master System Integrator for the integration of CCTV surveillance with the Ayodhya Smart City Project, has witnessed a remarkable 83 per cent increase in stock value in the last one year. The contract in Ayodhya has brought the company into the spotlight, potentially opening doors for similar projects.
Apollo Sindoori Hotels
Shares of Chennai-based Apollo Sindoori Hotels have surged around close to 80 per cent in the last one year. The company, engaged in managing food outlets at hospitals and organisations, is constructing a multi-level parking facility in Ayodhya to accommodate visitor vehicles.
The tourism theme is playing out well for IRCTC, with a 60 per cent increase in stock value in one year. As the monopoly in online booking of train tickets, IRCTC is set to benefit from the expected surge in travellers to Ayodhya.
Genesys International, a mapping technology solutions provider, has seen a 16 per cent increase in stock value in January alone. The company's product has been chosen as the official map for Ayodhya city, highlighting its role in the city's development.
Travel services provider EaseMyTrip has witnessed a 15% increase in stock value. The company has capitalized on the Ayodhya theme by launching a special tour package for the Ram Mandir.
Thomas Cook, a renowned tour operator, has seen 18 per cent increase in its stock value in 2024. The company has introduced religious tour packages centered around Ayodhya, Varanasi, and Prayagraj.
Shares of private security group SIS Ltd have rallied up to 18 per cent after signing an agreement with the Ram Mandir Trust to deploy personnel at the temple complex.
Pakka Ltd, a smallcap company supplying compostable plates, bowls, and spoons for the Pran Pratishtha ceremony, has witnessed an impressive rally of 205 per cent in the past one year.
As Ayodhya undergoes a significant transformation, investors are closely monitoring these stocks, anticipating sustained growth in the wake of the temple's grand opening. The city's economic prosperity is expected to soar, attracting further investments in various sectors.
Published January 22nd, 2024 at 13:44 IST
Republic Top 5
Breaking: Earthquake of Magnitude 4.6 Jolts BhutanWorld18 minutes ago