Indian hospitality stocks rise on upbeat post-pandemic demand view

Jindal Hotels

03/10/2022 09:46

** Shares of Indian hospitality companies Chalet Hotels Ltd
 CHAL.NS  , Indian Hotels Company Ltd  IHTL.NS , Lemon Tree
Hotels Ltd  LEMO.NS , and Kamat Hotels (India) Ltd  KAMT.NS 
rise between 1% and 7% 
     ** Indian hospitality sector is set to see a surge in
demand as weddings resurge after two years of Covid-19, media
reports said (https://bityl.co/EqXc)
     **  Taj GVK  TAJG.NS , Royal Orchid Hotels Ltd  ROYL.NS ,
Jindal Hotels Ltd  JNHT.BO , Asian Hotels East Ltd  ASHE.NS ,
and Westlife Development Ltd  WEST.NS  rise up to 6%
     ** Chalet Hotels hits its highest since  Feb 28, 2020
     ** Hospitality stocks rise despite  weaker broader Nifty 50
index  .NSEI , which is down 0.8%
     ** People are moving out and eating out more, hence the
hotel stocks are doing good -  AK Prabhakar, head of research at
IDBI CapitaL
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com;Mobile: +91 6001289066))