11 May , 2026 By : Debdeep Gupta
Shares of major travel, tourism and hospitality companies came under pressure on Monday after Prime Minister Narendra Modi urged citizens to reduce fuel consumption, postpone non-essential overseas travel and adopt more frugal lifestyle choices amid rising economic risks linked to the Middle East crisis.
Among the biggest losers, Yatra Online fell 5.32% to Rs 102.40, while Thomas Cook India dropped 4.12% to Rs 92.77.
Shares of Easy Trip Planners slipped 3.02% to Rs 7.72, while Le Travenues Technology declined 2.32% to Rs 164.47.
In the hospitality space, ITC Hotels fell 2.14% to Rs 160.98, Indian Hotels Company dropped 1.79% to Rs 661.00, and Lemon Tree Hotels was down 1.69% at Rs 118.38.
IRCTC also traded lower, falling 1.47% to Rs 556.60 in morning trade.
Addressing a public meeting in Hyderabad on Sunday, Modi had urged citizens to make what he described as nationally responsible lifestyle choices to help India navigate rising global uncertainty and supply disruptions.
"We have to reduce our use of petrol and diesel. In cities with metro lines, we should try to travel by metro... If we must use a car, then we should try to car pool," the Prime Minister had said.
Modi had also suggested reviving work-from-home practices that became widespread during the Covid period.
"During the coronavirus period, we developed many systems of work from home, online meetings, and video conferences, and we even became accustomed to them," he said, adding that restarting these practices was in "national interest" and the "need of the hour".
Modi had further appealed to citizens to postpone unnecessary foreign travel, including destination weddings abroad, and avoid discretionary gold purchases for at least a year to reduce pressure on India's foreign exchange reserves.
"We must also place a strong emphasis on saving foreign exchange, as petrol and diesel have become so expensive globally," he said.
He also urged households to reduce edible oil consumption, framing it as both a health and national duty.
"Patriotism is not only about the willingness to sacrifice one's life on the border. In these times, it is about living responsibly and fulfilling our duties to the nation in our daily lives," Modi said.
India, the world's third-largest oil importer and consumer, remains among the few major economies that has so far avoided raising retail petrol and diesel prices or rationing supplies despite disruptions in global energy markets.
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