Ayodhya Ram Temple Construction Creates Winners In Stock Market

Shares of companies linked to the development of Ayodhya have risen on the prospects of the temple town becoming a religious tourism destination.

A bunch of small stocks expected to gain big from the opening of the Ram Temple in Ayodhya have emerged as winners.

Shares of companies linked to the development of Ayodhya have risen on the prospects of the temple town becoming a religious tourism destination. Praveg Ltd., which has set up luxury tents near Ayodhya, and Allied Digital Services Ltd., which got a contract for CCTV surveillance network, have both soared more than 55% in the last one month. Kamat Hotels India Ltd. gained about 35% during the period.

Prime Minister Narendra Modi will inaugurate the temple devoted to Lord Ram in Ayodhya on Monday. The site is a centerpiece of a multi-billion dollar project to develop pilgrimage and tourism in the area. A new airport and revamped train station opened last month, while hotels, retailers and banks are also looking to expand.