Coronavirus Lockdown: Hotel stocks rally up to 19% as govt lifts curbs on operations from 8 June

Hotel stocks on Monday zoomed up to 19 percent after the government said the opening of hotels, restaurants and other hospitality services and shopping malls will start from 8 June

Press Trust of India June 01, 2020 13:07:55 IST
Coronavirus Lockdown: Hotel stocks rally up to 19% as govt lifts curbs on operations from 8 June

New Delhi: Hotel stocks on Monday zoomed up to 19 percent after the government said the opening of hotels, restaurants and other hospitality services and shopping malls will start from 8 June.

Chalet Hotels jumped 19.16 percent, EIH Associated Hotels 13.96 percent, Indian Hotels Company Limited 11.38 percent, EIH 9.93 percent and Taj GVK Hotels & Resorts soared 8.38 percent on the BSE.

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Lemon Tree Hotels also jumped 4.74 percent to Rs 18.80 -- its upper circuit limit.

The home ministry on Saturday said 'Unlock-1' will be initiated in the country from 8 June under which the nationwide lockdown effectuated on 25 March will be relaxed to a great extent, including the opening of shopping malls, restaurants and religious places, even as strict restrictions will remain in place till 30 June in the country's worst-hit areas.

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Unveiling the phased reopening, which the home ministry termed as 'Unlock-1', the guidelines said the opening of hotels, restaurants and other hospitality services and shopping malls will start from 8 June.

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