” ‘Chalo Lakshadweep’ Sparks 20% Surge in Gujarat-Based Firm’s Shares”

There was a recent dispute between India and Maldives, and during this time, a small-cap company named Praveg experienced a 20% increase in its stock shares. The disagreement led to a ‘Chalo Lakshadweep’ campaign, promoting tourism to Lakshadweep. Praveg, based in Ahmedabad, specializes in luxury resorts and is developing a tent city in Lakshadweep.

As a result of its involvement in the ‘Chalo Lakshadweep’ campaign, Praveg’s stock reached a 52-week high, reaching ₹1037.50. The surge was attributed to shareholders realizing the connection between Praveg and Lakshadweep, anticipating increased revenue and sales.

Praveg received a work order from the Union Territory of Lakshadweep to establish, maintain, and manage 50 tents at Agatti Islands for three years, extendable up to two years. This initiative aims to transform Agatti Islands into a luxury tourist destination offering activities like scuba diving, destination weddings, and corporate functions.

The online dispute began when Prime Minister Narendra Modi shared photos of his visit to Lakshadweep. Netizens compared Lakshadweep to Maldives, which sparked an online backlash from Maldivian politicians towards PM Modi. Indian celebrities joined in, encouraging people to explore Lakshadweep as an alternative to the Maldives. The campaign gained momentum, resulting in increased global interest in Lakshadweep, according to government sources.