American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Indians to spend more than $50 during the upcoming wedding bonanza: 8 stocks likely to benefit

by admin September 18, 2024
September 18, 2024
Indians to spend more than $50 during the upcoming wedding bonanza: 8 stocks likely to benefit

The Indian stock market traditionally witnesses a significant boost during the festive and wedding seasons and with Indians estimated to spend more than $50 billion during the wedding season between November and mid-December, certain sectors are likely to see a surge.

According to a note by Indian brokerage Prabhudas Lilladher, in 2024, the industry has already witnessed over 42 lakh weddings from 15 January to 15 July, generating an estimated expenditure of $66.4 billion (Rs 5.5 lakh crore), according to a survey by the Confederation of All India Traders (CAIT).

India is projected to host another 35 lakh weddings between November and mid-December alone, up from 32 lakh weddings during the same period in 2023.

This is expected to contribute approximately Rs 4.25 lakh crore ($51.20 billion USD) in economic activity.

The government’s push for the wedding industry

The Indian government aims to strategically boost tourism in India by positioning the country as a premier destination for international weddings.

The campaign will start by profiling around 25 key destinations across India, showcasing how the country meets diverse wedding aspirations.

Inspired by the Make in India campaign, this strategy seeks to attract approximately $12.1 billion (Rs 1 lakh crore) that is currently spent on destination weddings abroad.

The CAIT has dubbed this forward-thinking initiative as a strategic effort to stem the outflow of currency from India.

Key sectors to benefit 

According to PL Capita, with the festive and wedding seasons driving up consumer demand, certain sectors of the Indian stock market are likely to see a surge.

Retail stocks, particularly those related to clothing, home decor, and luxury goods, are expected to experience gains as families spend on elaborate ceremonies and gift-giving traditions, the brokerage said.

The jewellery sector is also set for a significant boost due to cultural ties between weddings and gold purchases.

The recent reduction in gold import duties from 15% to 6% is likely to further increase gold demand, with consumers using this opportunity to make large investments.

Source: PL Capital

“The cultural and religious significance of gold, combined with its role as a valuable investment, is expected to drive a substantial uptick in demand,” said Vikram Kasat, head of advisory at PL Capital.

Major jewellery companies like Titan and Kalyan Jewellers are likely to see their stock prices climb due to this heightened activity.

The hospitality industry will also see significant gains as more weddings are held in lavish venues, with an increase in the number of guests following the pandemic.

Hotels, airlines, and travel-related businesses stand to benefit as families spend on destination weddings and event services.

8 stocks to likely to look at

These are some of the stocks that are likely to benefit, according to the brokerage:

Arvind Fashions

Arvind Fashions is a prominent player in India’s apparel industry, offering premium brands like Arrow, US Polo, and Flying Machine.

During the wedding season, the demand for formalwear, ethnic wear, and high-end fashion surges, positioning Arvind Fashions to benefit from increased spending on luxury and occasion-specific clothing.

Ethos

Ethos is India’s largest luxury watch retailer, offering high-end brands like Rolex, Omega, and Cartier.

The Indian wedding season, known for grand celebrations and gift-giving, drives demand for premium watches, making Ethos a beneficiary as customers seek luxury gifts and accessories for special occasions.

InterGlobe Aviation (IndiGo)

As India’s leading airline, InterGlobe Aviation, the parent company of IndiGo, stands to benefit from the rise in travel during the wedding season.

With destination weddings and increased domestic and international travel for ceremonies, IndiGo is set to capitalize on higher demand for flights.

Hero MotoCorp:

Hero MotoCorp, the world’s largest two-wheeler manufacturer, could see a boost during the wedding season as families often purchase new vehicles as gifts or for personal use.

The company’s affordable range of motorcycles and scooters makes it a popular choice for gifting during weddings.

Source: PL Capital

Titan:

Titan, known for its luxury watches and jewelry brands like Tanishq, stands to gain immensely during the wedding season.

Gold and diamond jewellery are integral to Indian weddings, and Titan’s trusted brands are likely to see heightened demand as families make significant jewellery purchases.

Safari Industries:

Safari Industries, a key player in India’s luggage market, will likely benefit from the increased travel associated with weddings.

Whether for destination weddings or honeymoon trips, the demand for luggage and travel accessories tends to rise sharply during this period.

Sai Silks (Kalamandir):

Sai Silks, with its flagship brand Kalamandir, specializes in ethnic and bridal wear, making it well-positioned for the wedding season.

With millions of weddings taking place, the demand for sarees, lehengas, and other traditional attire surges, directly boosting the company’s sales.

Lemon Tree Hotels:

Lemon Tree Hotels, catering to midscale and economy travelers, stands to gain from the spike in bookings during wedding season.

With an increase in both domestic weddings and destination celebrations, the hospitality sector sees strong demand, especially from families and guests seeking affordable accommodation options.

The post Indians to spend more than $50 during the upcoming wedding bonanza: 8 stocks likely to benefit appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Long BRMN: BioMarin Pharmaceutical Rebounds After Sharp Drop; Buy the Dip Opportunity
next post
Digital Realty stock is severely overvalued; sits at a key resistance

Related Posts

Mullen stock price went parabolic: is MULN a...

May 20, 2025

Dangerous times

April 20, 2025

Rolls-Royce share price eyes 1,000 as key level...

May 20, 2025

Why are Dollar Tree and Dollar General stocks...

September 21, 2024

Ascension Health, largest Catholic hospital chain in the...

May 11, 2024

Asia markets open: Hang Seng plunges over 2%...

May 13, 2025

CNN says 47.9 million people watched the presidential...

June 30, 2024

Advertisers boost spending at retailers such as Walmart...

May 26, 2024

Sell these overvalued Nasdaq 100 stocks at their...

February 20, 2025

Powell Industries stock has surged: time to buy...

October 6, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,002)
    • Investing (2,453)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved