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ICICI Securities Report
Covid-19 impact resulted in the aggregate market cap of the 54 listed stocks involved in hotels, resorts, cruise, casinos and tour operator services dipping to Rs 290 billion during March 2020 sell-off, which is the upper threshold for qualifying as a mid-cap stock.
Currently the aggregate market cap has risen marginally as compared to the rest of the market.
Other sectors with a large overlap with tourism include airlines, road and railway services, restaurants, travel related consumer goods etc.
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