Stocks of Indian hotel companies surge after RBI announces liquidity boost
Rounak Jain
- The Reserve Bank of India (RBI) announced a separate liquidity window for contact-intensive industries.
- According to the announcement, companies from these sectors will be able to apply for liquidity boost till March 31, 2022.
- The separate liquidity window has been allocated ₹15,000 crore.
In his announcement, RBI governor Shaktikanta Das revealed that the liquidity window of an additional ₹15,000 crore will remain open till March 31, 2022. The window is primarily aimed at the hotel and tourism industries, giving them access to loans to meet their working capital requirements.
Adjusting for the second wave of COVID-19, Das also revised the gross domestic product (GDP) estimates downward by 100 basis points or 1% -- from 10.5% to 9.5%.
Note: All the prices shown below are as of 11:30 am, June 4, 2021.
Top hotel industry stock movements
Indian Hotels
Indian Hotels is a subsidiary of the Tata group. It manages hotels, resorts, jungle safaris, palaces and more. Its share price has surged by over a quarter in the last one month.
EIH – an Oberoi group company
EIH is an Oberoi group company and one of the largest luxury hotel chains in the country. It manages hotels under three names – Oberoi, Trident and Maidens. Its share price has surged by nearly 38% in the last one month.
Taj GVK Hotels & Resorts
Taj GVK Hotels is a joint venture between Indian Hotels and the Hyderabad-based GVK group. It manages three five-star hotels in Hyderabad and one each in Chennai and Chandigarh. Its share price has surged by nearly one-third in the last one month.
EIH Associated Hotels
EIH Associated Hotels is an associate company of EIH. It manages five-star hotels across major tourist destinations in the country. Its share price has surged by nearly two-thirds in the last one month, hitting the 20% upper circuit today.
Oriental Hotels
Oriental Hotels operates its hotels under the Taj brand in India. Established in 1970, Oriental Hotels operates seven hotels in South India, pre-dominantly in Tamil Nadu. Its share price has surged by nearly three-fourths in the last one month.
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