Hotel stocks rally up to 19 pc as govt lifts curbs on operations from June 8
New Delhi: Hotel stocks on Monday zoomed up to 19 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 19.16 per cent, EIH Associated Hotels 13.96 per cent, Indian Hotels Company Limited 11.38 per cent, EIH 9.93 per cent and Taj GVK Hotels & Resorts soared 8.38 per cent on the BSE.
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.
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.