There is heightened anticipation that Ayodhya will witness a substantial increase in investment, driven by the expectation that the temple will attract pilgrims from around the world. Reports suggest that over 3 lakh devotees could visit Ayodhya daily over the next three to four years.
Investors may want to consider stocks in the hospitality, travel, and tourism sectors, with a specific focus on Ayodhya. The city has already secured a significant investment commitment of Rs 49,000 crore at the 2023 Global Investor Summit in Uttar Pradesh, signalling a new era of economic prosperity for the region. Here is a list of stocks that should be on investors' watchlist.
IRCTC
IRCTC shares are anticipated to directly benefit from an uptick in tourism as Indian Railways considers connecting Ayodhya to major cities. The stock, having already demonstrated a strong performance, holds a monopoly in catering and ticketing.
Thomas Cook
Investors have also been playing the Ayodhya theme with tour operator Thomas Cook, the shares of which have rallied around 18 per cent. The company has already launched religious tour packages revolving around Ayodhya, Varanasi, and Prayagraj.
InterGlobe Aviation
As the parent company of IndiGo, InterGlobe Aviation is set to profit from increased flights to Ayodhya. IndiGo has initiated direct flights from Delhi, Mumbai, and Ahmedabad to Ayodhya.
Allied Digital
Mumbai-based Allied Digital Services is the Master System Integrator (MSI) for the integration of CCTV surveillance with the existing ITMS control room for the Ayodhya Smart City Project. The stock is up 41 per cent in the month.
Paytm
With a growing push for digital payments, Paytm shares are poised to rise alongside increased tourism in Ayodhya. An MoU with Ayodhya Nagar Nigam for Paytm's QR code and sound box is expected to contribute to the stock hitting four-digit levels.
Kamat Hotels
Kamat Hotels, capitalising on the tourism boost, plans to launch a new hotel with a 50-room capacity. Investors can consider buying fresh positions or holding for levels of Rs 750.
Genesys International
The stock has been selected as the official map provider for Ayodhya city by the Ayodhya Development Authority.
Pakka Ltd
Pakka is engaged in the manufacturing of disposable cutlery and has a manufacturing facility in Ayodhya.
Indian Hotels
Expected to benefit from increasing spiritual tourism, Indian hotels, with a network of 19 hotels and plans for additional construction, are poised for future growth.
Latest Business News
