The nation is prepared, the stage is set, and we eagerly await the much anticipated opening of the Ram Janmabhoomi Mandir in Ayodhya on January 22, 2024. After years of waiting, the temple that is constructed on the site that Hindus consider to be the true birthplace of Lord Ram is a much-anticipated religious project.
The famous Sompura family, which has created more than a hundred notable temple projects in India, designed the temple which was constructed by the massive infrastructure firm Larsen & Toubro. With everyone’s eyes on the inauguration, traders must remember that this can be an opportunity to keep an eye on the market.
According to analysts, the temple will stimulate much-needed and long-overdue business and economic growth in the area. This development will be advantageous to many small and large businesses. The travel, tourism, and hospitality sectors all directly profit from rising pilgrimage and tourism.
Stocks to look out for
In the years to come, Ayodhya anticipates a significant rise in tourist influx, with daily visitor numbers exceeding three lakh. Annual estimates project roughly 45 lakh tourists, marking an 80% surge compared to the city's typical inflow. The city is preparing for this upswing by developing infrastructure and amenities to cater to the growing number of visitors.
In light of this, let us discuss some stocks to watch in various sectors.
The influx of tourists directly benefits Praveg, as they operate luxury accommodations in the area. More visitors mean more people needing places to stay, which translates to higher demand for Praveg's services. This increased demand is likely a key factor driving up their share price. It's a clear example of how significant local developments can have a direct positive impact on businesses operating in the region.
The luxury hotel chain, which is the house of posh hospitality brands such as ITC Grand Chola, ITC Mughal, Fortune Hotels, etc., has announced its plans to construct a new property of its Fortune Hotels chain in Ayodhya. It is known for its culinary excellence, elegant properties, and responsible luxury initiatives.
Apollo Sindoori Hotels
Apollo Sindoori Hotels, a Chennai based, hospitality management company, has announced that they are building a multi-level car parking facility in Ayodhya, which will span over 3,000 square meters, has rooftop space restaurants and be capable of accommodating 1,000
The Indian Railway Catering and Tourism Corporation (IRCTC) generates substantial revenue annually from religious pilgrimages. Their customers and services have a wide range, and Indians are willing to pay for it as well. Online ticket booking is more comfortable and easy for consumers, and its adoption is also rising every day. IRCTC is probably going to handle a large chunk of the ticketing.
Indigo (Interglobe Aviation services)
Indigo, also known as Interglobe Aviation Services, is the biggest domestic airline in India. It operates from more than 86 airports in the country and is among the most talked about stocks now. It operates from multiple airports within Uttar Pradesh, such as Agra, Lucknow, Kanpur, etc. As a result, Indigo has become one of the most talked-about stocks in recent times.
Easemytrip is one of the most popular online ticket booking platforms. They have a low cost structure and a loyal customer base. They have an opportunity to leverage these strengths to make business from the rise in tourism due to the temple.
‘Tail lagao dabor ka, profit banao saal bhar ka’
New developments in the country mean new opportunities and fair business. As an investor, one should always keep an eye out for such opportunities and use forethought and logic. The Ram Mandir will surely bring a lot of much needed prosperity to Ayodhya and hopefully pave the way for a peaceful and prosperous future.
(This article is for informational purposes only and should not be considered investment advice. Investors should consult their financial advisor and conduct their own research before making any investment decisions.)