Shares of 10 hospitality companies rose by 1.24% to 13.02% on reports India may soon reopen for foreign tourists for the first time in one-and-a-half years.
Asian Hotels (North) (up 13.02%), Indian Hotels Company (up 8.52%), EIH Associated Hotels (up 7.55%), EIH (up 6.81%), Kamat Hotels (up 6.51%), Chalet Hotels (up 5.53%), ITDC (up 3.77%), Asian Hotels (East) (up 2.41%), Asian Hotels (West) (up 1.65%) and Lemon Tree Hotel (up 1.24%) advanced.
Following a decline in COVID-19 cases in the country, India is reportedly planning to reopen for foreign tourists. First five lakh foreign tourists will be issued visas free of cost in an attempt to revive the tourism, reports added.
Hospitality and aviation sectors are badly hit by the COVID-19 pandemic since March 2020 when a nationwide lockdown was announced.
Top government officials are reportedly discussing the expected date and modalities for opening up of the country for foreign tourists. A formal announcement allowing foreign tourists to visit India may come within the next 10 days, reports indicated.
Meanwhile, India has administered 80.85 crore COVID vaccine doses so far under nationwide vaccination drive.
India's active COVID-19 cases account for less than 1% of total cases, currently at 0.95%, which is lowest since March 2020. India's active COVID-19 caseload stands at 3,18,181, lowest in 183 days. Recovery rate currently stands at 97.72%.
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