India's retail, hotel stocks gain as lockdown eases

V2 Retail

02/06/2020 06:23

** Shares in India's retail and hotel chains surged on
Tuesday as the government prepares to further ease lockdown
curbs from next week
    ** Retailer Shoppers Stop  SHOP.NS , up 18.5%, set to finish
higher for a 5th straight day and gain 45% since May 26
    ** Retailer V-Mart  VMAR.NS  gains 1.5%, Future Retail
 FRTL.NS  rises 5%; V2 Retail  VREL.NS  up 4.9%
    ** "Because of easing of lockdown, hopes are rekindled that
these stocks which have been beaten down, will be attractive,
especially if one believes in revenge shopping" - Deepak Jasani
of HDFC Securities
    ** India on Saturday extended its coronavirus lockdown until
June 30 in high-risk zones but permitted restaurants, malls and
religious buildings to reopen elsewhere from June 8  urn:newsml:reuters.com:*:nL4N2DC051
    ** Most hotel stocks, which have clocked strong gains in
recent sessions, are also up: Lemon Tree  LEMO.NS  gains 4.8%,
Chalet Hotels  CHAL.NS  surges 20% and Indian Hotels Co
 IHTL.NS , which has risen 25% in last 4 days, up 0.8% 
    ** Cinema chain stocks PVR  PVRL.NS  and INOX Leisure
 INOX.NS  marginally lower, but up 11% and 7% respectively in
last four days

 (Reporting by Sachin Ravikumar)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27))