Latest News | Hotel Stocks Rally Up to 20 Pc as Govt Lifts Curbs on Operations from June 8
Get latest articles and stories on Latest News at LatestLY. Hotel stocks on Monday zoomed up to 20 per cent after the government said opening of hotels, restaurants and other hospitality services and shopping malls will start from June 8.
New Delhi, Jun 1 (PTI) Hotel stocks on Monday zoomed up to 20 per cent after the government said opening of hotels, restaurants and other hospitality services and shopping malls will start from June 8.
Chalet Hotels jumped 19.96 per cent, Indian Hotels Company Limited 11.45 per cent, EIH 6.93 per cent, EIH Associated Hotels 5.21 per cent and Taj GVK Hotels & Resorts soared 5.08 per cent on the BSE at close of trading hours.
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Lemon Tree Hotels also jumped 4.74 per cent to Rs 18.80 -- its upper circuit limit.
The home ministry on Saturday said 'Unlock-1' will be initiated in the country from June 8 under which the nationwide lockdown effectuated on March 25 will be relaxed to a great extent, including opening of shopping malls, restaurants and religious places, even as strict restrictions will remain in place till June 30 in the country's worst-hit areas.
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Unveiling the phased reopening, which the home ministry termed as 'Unlock-1', the guidelines said opening of hotels, restaurants and other hospitality services and shopping malls will start from June 8.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)