Mumbai-based hotels company Juniper Hotels plans to raise Rs1,800 crore through a fresh issue of shares. Of this, Rs1,500 crore will be utilised to repay debt. The promoter group’s holding will fall to 77.5% after the IPO from 100%.
Stocks that were in focus included names like EIH, which rose 20%, Gensol Engineering, which increased 10%, and Trent, whose shares jumped 19.48% on Wednesday.
Porinju Veliyath believes that the formation of tourism hubs, along with themes like affordable housing, is important. He mentions the potential of religious and pilgrimage tourism with international airports and sufficient infrastructure. The development of tourism can contribute 1% to India s GDP. EIH is a good bet in the luxury tourism sector, especially with new opportunities like Ayodhya. There is potential for growth in the tourism sector, which will have an overall impact on the economy. Porinju expects ONGC to lead the PSU pack in the next one to two years due to its low valuation.
The eagerly awaited inauguration of the Ram Mandir took place in Ayodhya on Jan 22. With over $10 billion in investments made, the city is expected to attract around 5-10 cr footfall every year. This influx of pilgrims is poised to create lucrative opportunities for many sectors. Let s take a look: