Shares of 11 hotel companies rose by 1.10% to 15.94% after the Indian government announced that it will start issuing tourist visas from 15 October 2021.
Kamat Hotels (up 15.94%), Lemon Tree Hotel (up 7.82%), Indian Hotels Company (up 4.41%), Asian Hotels (North) (up 4.15%), EIH Associated Hotels (up 3.53%), Chalet Hotels (up 2.91%), TajGVK Hotels (up 2.74%), Asian Hotels (West) (up 2.05%), EIH (up 1.57%), ITDC (up 1.17%) and Asian Hotels (East) (up 1.10%) jumped.India's Ministry of Home Affairs (MHA) on Thursday said it will begin granting fresh tourist visas to foreigners coming to India through chartered flights with effect from 15 October 2021. Foreign tourists travelling to India by flights other than chartered aircraft will be able to do so with effect from 15 November 2021.
"With this, the restrictions placed on visa and international travel stand further eased given the present overall COVID-19 situation," the home ministry statement added.
All visas granted to foreigners were suspended last year due to the COVID-19 pandemic. Various other restrictions were also imposed on international travel by the central government to arrest the spread of the COVID-19 pandemic.
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