Shares of Praveg Limited surged over 6% in Tuesday’s trade, emerging as one of the top gainers, after the company announced the inauguration of its Adalaj Theme Park and Heritage Stepwell Museum in Gujarat.
What triggered the rally in Praveg shares?
The sharp move in the stock follows a Regulation 30 disclosure to the stock exchanges, where Praveg informed investors that its flagship cultural and experiential tourism project was formally inaugurated on December 22, 2025, by Gujarat Chief Minister Bhupendrabhai Patel .
The inauguration marks the commercial and operational rollout of a first-of-its-kind theme-based destination inspired by the iconic Adalaj Stepwell, positioning Praveg deeper into heritage-led tourism and premium event infrastructure.
Key details of the Adalaj Theme Park project
According to the company’s press release, the project is being developed and operated through Praveg Adalaj Tourism Infrastructure Private Limited, a wholly owned subsidiary, under a 30-year Public-Private Partnership (PPP) model .
The destination is strategically located on the Ahmedabad–Gandhinagar Highway and is designed as a multi-purpose venue for:
- Cultural shows and heritage experiences
- Corporate conferences and brand activations
- Social celebrations, weddings, and curated events
The project includes a large amphitheatre, dining spaces, ceremony areas, museum zones, and premium guest facilities, significantly expanding Praveg’s experiential tourism portfolio .
Why markets reacted positively
Investors appear to be factoring in:
- Revenue visibility from long-term operations under the PPP model
- Expansion into high-margin cultural tourism and event destinations
- Strong alignment with government initiatives on heritage tourism and experiential travel
The presence of senior central and state leaders at the inauguration also reinforced the project’s strategic importance, adding to market confidence.
Praveg share price movement today
Praveg shares were trading around ₹330, up over 6%, compared with the previous close of ₹309.90, as buying interest picked up following the announcement.
Bigger picture
Praveg has been steadily expanding beyond eco-responsible luxury hospitality into destination-based tourism infrastructure and large-scale event venues. The Adalaj Theme Park is seen as a landmark addition that could support stable cash flows and brand visibility over the long term.
As of now, the stock’s rally reflects optimism around execution and monetisation of this newly inaugurated asset, with investors tracking how quickly the project translates into operational and financial performance in the coming quarters.
