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Hotel stocks are on the rise despite surge in covid cases

MUMBAI : Despite the second wave of the pandemic in the country, stocks of hotel companies are at their weekly highs.

While the Tata group-owned Indian Hotels Corporation Ltd, which runs the flagship brand Taj Hotels, has seen its stock surge 19%, Kamat Hotel's stock went up by 5%, Royal Orchid by 7%, Specialty Restaurants by 4%, Chalet Hotel 8% and EIH Associated Hotel 6%.Analysts explain that the visibility of vaccinating more people could be a key reason behind this rally, among other aspects."It seems investors are seeing the recent surge in the covid cases as a temporary setback and expect gradual recovery across the sectors including hospitality, citing the efforts taken by the government to increase vaccine reach.

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