Ayodhya-Linked Stocks Experience Significant Uplift Amid Ram Mandir Consecration
The recent consecration ceremony of the Ayodhya Ram Mandir has sent ripples beyond the spiritual realm, impacting the Indian stock market in a unique and unexpected way. Amidst the backdrop of volatility in major IT and tech shares in recent weeks, the market witnessed a substantial spike in the prices of four specific stocks. This surge can be attributed primarily to their connection with the auspicious consecration ceremony of the Ayodhya Ram Mandir, which took place on January 22.
The ceremony, marking the ‘pran prathishtha’ of the idol of Ram Lalla in the newly constructed temple, was a monumental event attended by over 7,000 invitees, including dignitaries such as Prime Minister Narendra Modi and Uttar Pradesh Chief Minister Yogi Adityanath. Beyond its cultural and religious significance, the consecration ceremony has had a noteworthy impact on the financial landscape, particularly benefiting four companies with strong ties to the business and tourism sectors in Ayodhya.
In the spotlight over the past three months are Allied Digital, Thomas Cook, InterGlobe Aviation, and Easy Trip Planners. These companies have experienced a remarkable surge in their share prices, registering a minimum increase of 22 percent—a notable feat, especially when compared to the performance of other small and mid-cap firms in the market.
Allied Digital: A Technological Ascent
Allied Digital, with its roots in the technology sector, has witnessed a commendable rise in its share prices. The company’s connection to Ayodhya, though not immediately apparent, underscores the widespread impact of the Ram Mandir consecration on various sectors. This surge suggests a newfound investor interest, possibly driven by the company’s involvement in technology solutions that contribute to the city’s infrastructural development.