Ayodhya Ram Mandir Ceremony Boosts Stock Prices Across Sectors
The upcoming consecration ceremony of the Ram Mandir in Ayodhya on 22 January, coupled with Prime Minister Narendra Modi's announcement of substantial investments to transform Ayodhya into a smart city, has set off a flurry of positive movements in various stock prices.
The event is poised to attract over 7,000 guests from India and abroad, and officials anticipate a significant influx of 3-5 lakh visitors daily for at least a month post-inauguration.
Aviation
One of the notable beneficiaries is InterGlobe Aviation IndiGo, which has announced plans to commence commercial operations to Ayodhya from Delhi and Ahmedabad. As a result, ticket prices to cities connected to the Ayodhya airport have surged in response to heightened demand.
The stocks of both InterGlobe Aviation and SpiceJet have witnessed increases of 3.89 per cent and 6.98 per cent, respectively, in the last month.
Hospitality
The hospitality sector in and around Ayodhya is also gearing up for substantial growth. Praveg’s stock has surged over 63.87 per cent in the past month, as the company prepares to open a resort in Ayodhya on 15 January, with 75 per cent of the occupancy already pre-booked.
Renowned luxury hotel chains such as Indian Hotels Co., ITC, and EIH, are poised to benefit from their planned hotel openings in the region.
Apollo Sindoori Hotels, equipped with a multi-level parking facility covering 3,000 square metres in Ayodhya, has experienced a 47.74 per cent rise in its stock in the past month. The parking facility includes a rooftop area for restaurants, capable of hosting over 1,000 tourists.
Railway
Indian Railway Catering and Tourism Corp. is planning to operate over 1,000 trains to Ayodhya for the temple inauguration, leading to a 19.90 per cent increase in its stock over the past one month. Rail Vikas Nigam has also gained 4.29 per cent in the past month.
Tourism
Tour operators and travel agencies, including Thomas Cook (India), EaseMyTrip, and RateGain Travel Technologies Ltd., have experienced a surge in queries and bookings since the inauguration announcement. Thomas Cook experienced a surge of 114.95 per cent in the last six months.
EaseMyTrip's shares have seen a notable increase of 16.67 per cent in the last month.
RateGain Travel Technologies reported a 129.64 per cent year-on-year rise in international bookings in Lucknow, located approximately three hours away from Ayodhya. This surge was observed for the weekend preceding the inauguration.
As Ayodhya gears up for this historic event, various sectors are poised to capitalise on the surge in economic activity, further contributing to the region's overall development.
