Ayodhya Ram Mandir News Has Resulted In Rally In Shares Of These Companies: IRCTC, Praveg, Genesys

Ayodhya has become a buzzword these days as the much-awaited 'pran pratishtha' of Ram Lalla idol at the Ram Temple will happen on January 22, 2024. Ayodhya City has gained a lot of traction even on Dalal Street and shares of some companies including IRCTC, Genesys International, Praveg, Allied Digital Services Ltd and others have rallied significantly in the last few days. Since Ayodhya has become the new investing theme these days, let us see how these stocks have performed recently.

1. Praveg Ltd.:

Shares of Praveg Ltd, which runs luxury tents in tourist places in India, have rallied 30.68% in last one week on BSE. Last year in November, the company had opened a luxurious resort along the Brahma Kund at Ayodhya. The stock is also in focus as it had recently bagged a contract to open tents in Lakshadweep as well.

2. Allied Digital Services Ltd (ADSL):

Shares of small-cap IT stock Allied Digital Services Ltd (ADSL) traded at a new 52-week high level of 196.05 in the intraday trading on Friday (January 12). On Friday, the stock of Allied Digital Services closed 1.76% higher at Rs 173.90 per share on BSE. The sudden surge in shares of the IT stock was seen after the company informed that it had won a CCTV surveillance project in Ayodhya. Following this announcement, Allied Digital shares were locked in a 20% upper circuit limit of Rs 170.90 apiece on Thursday.

Allied Digital Services Limited, a leading Global IT Services and Solutions Provider has been picked as a Master System Integrator (MSI) for the Integration of CCTV Surveillance with the Existing ITMS Control Room for the Ayodhya Smart City Project, the company said in an exchange filing on Thursday.

According to the company, the project entails the establishment of a multi-location CCTV surveillance system. The capital expenditure (CAPEX) and implementation phase are anticipated to last three months, followed by a five-year operational and maintenance (O&M) phase.

Allied Digital Services said that the Video Management System (VMS) will play a key role in handling live feeds, while recorded footage will be securely stored on local storage. The primary goals include enhancing safety and security, optimizing city administration efficiency, and promoting an improved quality of life for residents even as Ayodhya City is undergoing unprecedented transformation.

In the last one week, the stock has gained 27.45%.

3. Indian Railway Catering and Tourism Corporation Ltd (IRCTC)

IRCTC shares have remained in focus recently in view of the recent developments taking place in Ayodhya. The company has a monopoly in online booking of train tickets, and thus its shares are in focus as millions of devotees are expected to travel to Ayodhya in the next few months. The PSU stock is up 21% in a month. IRCTC shares last closed 1.18% higher at Rs 951.30 per share.

4. Genesys International

Shares of mapping technology solutions provider Genesys International traded at a new 52-week high value of Rs 514.85 on Friday. The stock last closed 2.16% higher at Rs 499.80 per share. Shares of Genesys International grabbed attention after the company said that its product was chosen as the official map for Ayodhya city.

In an exchange filing on January 9, the company said, "Genesys International's New India map platform has been chosen as the official map for Ayodhya city by the Ayodhya Development Authority. Genesys International is one of the leading homegrown players in mapping technology solutions. Their New India map platform integrates cutting-edge 2D navigation and a 3D digital twin of the entire city, offering an unparalleled and immersive experience for users."

According to the company, the Genesys Ayodhya map not only will provide optimal routes and locations but also include special features catering to electric vehicles, aligning with Ayodhya's commitment to environmental sustainability. Along with other applications - this map platform will go a long way in making Ayodhya a smart and sustainable city for pilgrims, citizens, and authorities.