India's airlines, leisure stocks fall as new virus variant spooks investors

Mahindra Holidays and Resorts India

26/11/2021 08:34

** Shares of airline operators, hotel and tourism companies
fall as investors fret over a new and possibly vaccine-resistant
coronavirus variant identified in South Africa 
    ** India issued an advisory to all states to rigorously test
and screen international travellers from South Africa and other
"at risk" countries  urn:newsml:reuters.com:*:nL4N2SH16Y
    ** India just eased some of its travel restrictions earlier
this month and posted the smallest rise in new cases in
one-and-a-half years this week, due to rising vaccinations and
antibodies 
    ** Shares of InterGlobe Aviation Ltd  INGL.NS , the operator
of India's biggest airline IndiGo, down as much as 9% while
shares of budget carrier SpiceJet  SPJT.NS  loses 6.7%
    ** Hotel operators Indian Hotels Co  IHTL.NS  fall 9.4%,
Lemon Tree  LEMO.NS  was down 6.4%, Chalet Hotels  CHAL.NS 
drops 10%, while EIH  EIHO.NS  and Mahindra Holidays  MAHH.NS 
slip 5% and 6%, respectively
    ** Tourism operators Thomas Cook (India)  THOM.NS  and Easy
Trip Planners  EASM.NS  down 5% each
    ** Earnings in the recently ended September quarter showed
that several Indian companies were on the cusp of recovery after
the COVID-19 pandemic battered global economy

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))