2, March, 2024
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Ayodhya’s Spiritual Tourism Boom: Investment Opportunities and Stocks to Watch

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The spiritual tourism sector is set to outpace the overall tourism market, with a projected growth rate of 9-10 percent over the next five to seven years. Ayodhya, positioned in eastern Uttar Pradesh, is at the forefront of this growth, making it a focal point for investors looking to capitalize on the surge in travel, hospitality, and logistics industries, particularly with the consecration of the Ram Mandir on January 22.

Read Also | Ayodhya Emerges as Prime Real Estate Hub Amidst Completion of Ram Temple Construction

Industry experts predict that the inauguration of the Ram Mandir will trigger a substantial increase in tourist influx, creating a significant investment window. Here are noteworthy stocks that have garnered increased attention in anticipation of the January 22 event:

Praveg: Expanding Experiential Tourism

Praveg, a leading player in experiential tourism in India, has witnessed a remarkable 70 percent surge in the past month. The success is attributed to strategic campaigns like “Chalo Lakshadweep” and its Ayodhya property, which is currently experiencing robust bookings ahead of the Ram Mandir opening. With a new property operational since November 2023, Praveg plans to construct another tent city in Ayodhya to meet the growing demand. The stock has hit the 20 percent upper circuit limit twice in a week, currently trading at Rs 2,597.90.

IRCTC: Monopoly in Online Train Ticket Booking

As the sole player in online train ticket booking, IRCTC has observed a remarkable 20 percent surge over the past month. Analysts foresee IRCTC benefiting from the expected surge in tourist footfalls to Ayodhya in the coming years. The company is actively involved in constructing a multi-level parking facility and a 1,000-seater rooftop restaurant, enhancing the infrastructure in Ayodhya to cater to the growing demands.

Digital Mapping Company: Charting Ayodhya’s Future

The digital mapping company has witnessed a 7 percent increase this week after announcing that its New India map platform was selected to chart the official map for Ayodhya city by the Ayodhya Development Authority. This mapping platform not only provides optimal routes and precise locations but also features tailored for electric vehicles, aligning with Ayodhya’s commitment to eco-friendly initiatives.

IndiGo: Expanding Flight Operations to Ayodhya

India’s largest airline, IndiGo, is set to launch daily flights to Ayodhya, connecting major cities like Mumbai, Delhi, and Ahmedabad. With direct flights already operational from Delhi and commencing from Ahmedabad on January 11, IndiGo aims to facilitate easier access for tourists visiting the temple town.

Read Also | India Inc. Titans Set Sail for Ayodhya’s Historic Ram Mandir Consecration

Ayodhya’s spiritual tourism surge presents lucrative investment opportunities across various sectors. As the consecration of the Ram Mandir approaches, these stocks stand out as potential beneficiaries of the anticipated tourism boom in Ayodhya. Investors keen on tapping into the burgeoning spiritual tourism market should keep a close eye on these promising opportunities.

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