The D-Day finally arrived on January 22, 2024 with Prime Minister Narendra Modi participating in the auspicious Pran Pratishtha Utasav in Ayodhya Ram Mandir. After at least 500 years of struggle, Ram Lalla is returning to his newly built palace, or Ram Mandir in Ayodhya, Uttar Pradesh. With at least 20 million devotees expected to arrive in Ayodhya to worship Ram Lalla in the next 6 months, companies in India and the world have been racing to 'Ramnagri' to open their space or outlet to cater to them. Bollywood megastar Amitabh Bachchan has already bought a plot in Ayodhya not far from Ram Mandir, companies directly or indirectly linked to the Ayodhya Ram Temple have been witnessing a boom in their stock price. Below are the top 5 stocks related to Ayodhya Ram Mandir whose stock price skyrocketed by at least 100 percent-
1) L&T share price
India's biggest capital goods company, Larsen & Toubro is responsible for the construction of Ayodhya Ram Mandir. Larsen & Toubro has been witnessing a continuous rise in the price of its stock price ever since Ram Mandir's Bhoomi Poojan by Prime Minister Narendra Modi. As per reports, Larsen & Toubro stock price has been skyrocketed by 250 percent till now. On January 22, 2024, Larsen & Toubro will complete the first phase of Ram Mandir temple construction when PM Modi will participate in Pran Pratishtha event.
As per Forbes, following the company bagged Ram Janmbhoomi construction project, the share price of the infrastructure major has turned multibagger in three years, rallying 233% during this period, from Rs 1,080 on November 17, 2020, to Rs 3,605 on January 15, 2024. Shares of L&T hit a new all-time high of Rs 3,605.55 in intraday trade, while the market capitalisation climbed to Rs 4.92 lakh crore.
2) Pakka Ltd
The second in the list with more than 100 percent increase in stock price is Pakka Ltd. Pakka Ltd's shares have rallied 148% so far in January. In the last one week alone, the smallcap stock has more than doubled after it was known that the Ayodhya-based company will supply compostable plates, bowls, and spoons for the Pran Pratishtha ceremony on January 22.
3) Kamat Hotels
The third company in the list is Kamat Hotels. As per reports, Kamat Hotels' shares have shoot up by 71% in January 2024 till now. The smallcap company, whose market share is less than Rs 900 crore, plans to start a new hotel of 50 rooms in Ayodhya this month and has also announced the opening of two more hotels in the temple town in future. Hence, Kamat Hotels Stock price has skyrocketed.
4) Apollo Sindoori Hotels
The fourth company in the list is Apollo Sindoori Hotels. The Chennai-based Apollo Sindoori Hotels' share price have amped up around 54% this month. The hospitality service management and support services company is building a multi-level parking facility in Ayodhya to accommodate visitor vehicles in Tedhi Bazar.
5) ) Allied Digital
The fifth on the list is Mumbai-based Allied Digital Services (ADSL). ADSL has been selected as the Master System Integrator (MSI) for the Integration of CCTV Surveillance with the Existing ITMS Control Room for the Ayodhya Smart City Project. The stock is up 41% in the month.
V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, was quoted by a newswire saying, "Without doubt, Ayodhya will become a major spiritual tourism destination. The potential for tourism-related business is enormous and has attracted investors into hotel, travel and other tourism-related stocks."