Indian hotel stocks surge as govt considers opening up for foreign tourists

Mahindra Holidays and Resorts India

20/09/2021 10:14

** Shares of India's hotel and hospitality companies rise
between 3% and 11%
    ** Prime Minister Narendra Modi said on Saturday the country
is looking to protect its population through vaccinations and
welcoming back tourists,  urn:newsml:reuters.com:*:nL1N2QL050
    ** Modi said https://pib.gov.in/PressReleseDetail.aspx?PRID=1755998
 that India prioritised tourist destinations in its vaccination
efforts and the country has decided to give free visas to 5 lakh
tourists visiting India
    ** India's new COVID-19 infections have plateaued at around
30,000 a day as vaccinations surged and some 64% of India's
adult population has received at least one COVID-19 vaccine dose
and 22% two doses  urn:newsml:reuters.com:*:nL4N2QM0IJ
    ** Shares of EIH Associated Hotels Ltd  EIHA.NS  rise 8.2%;
Mahindra Holidays Ltd  MAHH.NS  2.9%, ITDC  ITDC.NS  3.25%, Taj
GVK  TAJG.NS  9.2%, Indian Hotels Co  IHTL.NS  11.1%, Taj GVK
Hotels and Resorts  TAJG.NS  9%, Asian Hotels  ASHT.NS  11.1%
    ** India's hospitality sector has been worst hit due to
COVID-19 pandemic as people stayed at home and flights were
curbed to prevent the virus spread

 (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))