Travel stocks are buzzing in today's market. Here's why

Travel stocks, eih associated hotels, interglobe aviation, orchid hotels, taj gvk hotels, advani hotels and resorts

New Delhi: Hotel and travel-related stocks created some buzz in Monday’s market after more relaxation in Covid-induced restrictions, which are expected to help hotels, travel and aviation businesses.

These are the worst-affected sectors of the economy ever since the Covid-19 pandemic broke out, and tourism took the hardest knock.

On Monday, shares of Asian Hotels (North) and Royal

Orchid Hotels

rallied 20 per cent each to Rs 99.9 and Rs 98.40, respectively.

EIH Associated Hotels

and

Advani Hotels and Resorts

gained 16 per cent each to Rs 385.55 and Rs 84.50, respectively.

Did you Know?

Stock score of EIH Associated Hotels Ltd moved up by 2 in a month on a 10-point scale.

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Stock Analysis

Stock score of EIH Associated Hotels Ltd is 5 on a scale of 10. View Stock Analysis »

Santosh Meena, Head of Research at Swastika Investmart, said tourism, travel and hotel stocks are buzzing on the back of the reopening theme in India.

“Aviation companies are now allowed to operate with 85 per cent capacity. India may soon open the doors for foreign tourists and that is another big reason for a sharp rally in the hotel stocks,” said Meena.

Among other hotel stocks,

Taj GVK Hotels

and Indian Hotels surged 14 per cent each to Rs 148.50 and 169.20 respectively. EIH gained 13 per cent to Rs 121; Chalet Hotels zoomed 10 per cent to Rs 198.45.

Kamat Hotels, Mahindra Holidays & Resorts India, Oreint Hotels, Jindal Hotels and Indian Tourism Development Corporation added 5-9 per cent each.

Likhita Chepa at CapitalVia Global Research said investors’ focus has now shifted to the worst-hit sectors, which haven’t been able to reach pre-Covid levels yet. “The unlock theme is going to play out there going forward,” she said.

“Investors can consider adding stocks from these sectors or increase allocation to these sectors at current levels, as they hold the potential to generate decent returns in the near term and offer favourable risk-reward at present,” said Chepa.

Other travel-related sectors were also in action. Delta Corp zoomed 13 per cent to Rs 236.80 , Thomas Cook gained 9 per cent to Rs 70.95, while International Travel House rallied 7 per cent to Rs 87.45.

The overall outlook for the travel and tourism sector is bullish on the back of changing lifestyle, government support, and attractive valuations, said Meena. “Investors can look for investment opportunities in this space, but in the near term, we could see some correction as well.”

Investors are looking for better options to make money as the travel and tourism sector is eyeing to reach pre-Covid normalcy soon. Expectations of opening up of Casinos in Goa and revival of tourism in the forthcoming festive season have bolstered investor sentiment.

The hope gained strength as PM Modi emphasised on focussing on travel and tourism over the weekend. The centeral government is stepping ahead to reopen India to foreign tourists, which will revive the tourism economy.

Meena picked Indian Hotel as his top pick in the hotel space and

InterGlobe Aviation

in the aviation space.

Chepa picked the recently-listed EaseMyTrip and Mahindra Holidays & Resorts India (MHRIL). She expects up to 15 per cent returns from both the stocks in near term.

“Ease My Trip has been able to weather the storm due to lower costs, whereas MHRIL has charted out an aggressive expansion plan, as it seeks to ride on the revenge travel trend and a strong resurgence in leisure destination travel,” she said.

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