The Ayodhya Ram Temple is slated to open officially on January 22, 2024. There is a great deal of expectation that the temple will attract pilgrims from all over the world, which will lead to a notable increase in investment in the city. According to reports, during the next three to four years, over 300,000 devotees may visit Ayodhya every day. Consequently, investors might want to look at stocks in the travel and tourism and hospitality industries, with an emphasis on Ayodhya; however, time will tell if this spike in interest from investors is a passing fad or a long-term change in the dynamics of the market. At the recent 2023 Global Investor Summit in Uttar Pradesh, the city already drew an incredible commitment of investment worth Rs 49,000 crore, signaling the start of a new phase of economic growth for the area.
Stocks to look out for:-
Praveg: Founded in 2005, this Ahmadabad-based business provides exhibition, event management, and hospitality services in India. It is a pioneer and leader in the country’s experiential tourism industry. The company offers opulent tent cities and resorts in various locations, such as Ayodhya, the Rann of Kutch, Varanasi, Daman & Diu, and Sardar Sarova. As of January 18, the company’s shares had increased by over 50% year over year, while the benchmark BSE Sensex saw a 1% decrease in the same time frame.
Indian Hotels and Taj GVK Hotels: Anarock research indicates that Ayodhya will develop into a hub for hospitality activities spanning all price ranges. After the temple is dedicated, there will be a huge demand for hotel rooms, ranging from low-cost to five-star, as Ayodhya is expected to become one of the nation’s most popular destinations for both religious and leisure travel. One of the biggest hotel chains in the nation, Indian Hotels Company (IHCL), which owns renowned names like Vivanta and Taj Hotels, is already developing two properties in Ayodhya.
InterGlobe Aviation and SpiceJet: As of January 18, shares of InterGlobe Aviation (Indigo) had increased by 4% year-to-date and by over 46% over the previous 12 months. On December 30, the airline conducted its first-ever flight from the nation’s capital to Ayodhya’s airport, which is formally known as Maharishi Valmiki International Airport, Ayodhya Dham. Another company in the aviation sector that could profit from the opening of the Ram Temple in Ayodhya is SpiceJet. Spicejet recently revealed that starting on February 1, 2024, non-stop flights will connect Ayodhya with Chennai, Bengaluru, and Mumbai.
IRCTC: The Indian railways planned to run more than 1,000 trains from various locations across the nation to Ayodhya starting on January 19 during the first 100 days of Ram Mandir’s inauguration. The general public can visit the temple starting on January 23. IRCTC’s stock has increased by about 5% year to date and by about 45% over the last 12 months through January 18.