Recently Honorable Prime Minister Mr. Narendra Modi visited Lakshadweep and posted a picture from there on Instagram commenting, “For those who wish to embrace the adventurer in them, Lakshadweep has to be on your list”.
Following this three deputy ministers in the Ministry of Youth Affairs in Maldives, Maryam Shiuna, Malsha Shareef, and Mahzoom Majid made negative comments about India and the Prime Minister following his recent visit to Lakshadweep.
In reply to their negative comments, Indians and people all over the world started boycotting the visit to Maldives, and Easy trip planners also suspended their travel booking to Maldives.
Here are some of the stocks that may benefit from the tourism boost that can occur in the islands of Lakshadweep.
Praveg
Praveg Limited is primarily engaged in the business of hospitality, publications, and real estate marketing and has core competence in Exhibition and Event Management.
Praveg Limited has recently received 3 work orders from the Department of Tourism, Lakshadweep for the Operation, development, Maintenance, and Management of Hospitality tents in Lakshadweep. These developments will help Praveg Limited to benefit from the tourism boost in Lakshadweep.
In the day’s trade, the shares of Praveg Limited were trading at Rs. 1,158, up 13.98 percent from its previous day’s close price of Rs. 1,015.95 and its market capitalization is Rs. 2,650 Crores. It has delivered multi-bagger returns of 262 percent in a year and 132 percent in the last six months.
The company’s revenue from operations grew 86.7 percent from Rs. 45.25 Crores in FY22 to Rs. 84.48 Crores in FY23, and increased profits of Rs. 12.24 Crores to Rs. 28.43 Crores.
Easy Trip Planners
Easy Trip Planners offers a range of travel-related products and services like reservation and booking services for travel and tourism, under its flagship brand called Ease My Trip.
Easy Trip Planners is an efficient travel-related bookings provider for hospitality, travel, and many more and it has recently suspended the tourns from its booking to Maldives, which may be a strategic move to support tourism in Lakshadweep.
In the day’s trade, the shares of Easy Trip Planners Limited were trading at Rs. 43.75, up 0.95 percent from its previous day’s close price of Rs. 43.35 and its market capitalization is Rs. 7,766 Crores
Its revenue from operations grew 90.69 percent from Rs. 235.37 Crores in FY22 to Rs. 448.83 Crores in FY23, accompanied by increasing profits of Rs. 105.92 to Rs. 134.2 Crores.
The Indian Hotels Company
Indian Hotels Company Limited is India’s largest hospitality company by market capitalization and part of the great Indian conglomerate Tata Group and it is engaged in the business of owning, operating & managing hotels, palaces, and resorts.
Indian Hotels Company Limited has two Taj resorts in Lakshadweep, 110-room resorts each on the Suheli and Kadmat islands. It can be benefited as it provides one of the best hospitality services around the world.
In the day’s trade, the shares of Indian Hotels Company Limited were trading at Rs. 453.65, up 0.44 percent from its previous day’s close price of Rs. 451.65 and its market capitalization is Rs. 64,444 Crores.
Its revenue from operations grew 90.01 percent from Rs. 3,056.22 Crores in FY22 to Rs. 5,809.91 Crores in FY23, accompanied by a loss of Rs. 247.72 Crores to a profit of Rs. 1,002.59 Crores.
Written by: Bharath K.S
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