Hotel stocks rally; Indian Hotels at new high, Chalet, EIH gain up to 14%

Analyst believe hospitality business will be back to pre-Covid level by Q4FY22, if there won't be third wave of the pandemic

Shares of hotel companies were in focus and rallied up to 14 per cent on the BSE in intra-day trade on Monday on hopes of business revival following unlocking of the economy and pick-up in travel. The management’s commentary on strong revival from July onwards is encouraging and analyst believe business will be back to pre-Covid level by Q4FY22, if there won’t be third wave of the pandemic.

Among the individual stocks, EIH, Taj GVK Hotels & Resorts and Chalet Hotels rallied between 10 per cent and 14 per cent. Indian Hotels Company (IHCL) surged 14 per cent to