Surge in travel, leisure stocks shows Street is betting on vaccine with gusto
Broadly, investors are betting that consumers would be less afraid of venturing out once there is a vaccine. This could result in better demand for services of travel and leisure firms, which have seen their revenues evaporate in the June quarter
MUMBAI : After Russia approved the world’s first covid-19 vaccine, named Sputnik V, travel and leisure stocks have skyrocketed. Shares of InterGlobe Aviation Ltd, which runs the IndiGo airline, have risen over 23% this week, while hotel chains The Indian Hotels Co. Ltd and Lemon Tree Hotels Ltd saw their stocks soar by 25% and 36%, respectively. Shares of cinema chains PVR Ltd and Inox Leisure Ltd have risen by over 11% each.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started