Cricket Fever Sets Stock Market Abuzz
The ICC World Cup 2023, which kicked off on Thursday, has not only captivated cricket enthusiasts but also caught the attention of stock market experts. With the tournament set to run until the 19th of November 2023, spanning nearly one and a half months, it is poised to make a significant impact on various sectors of the economy, akin to a mini economic carnival during Q3FY24.
Stocks to Watch as ICC World Cup 2023 Takes Center Stage
Experts in the stock market predict that certain sectors will experience a surge in business due to the ICC World Cup 2023, particularly in the domains of travel and tourism, hotels, quick-service restaurants (QSR), and breweries. For short-term investors seeking potential gains, these sectors hold promise.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, commented on the tournament’s impact, stating, “The World Cup 2023 began on Thursday in India, which is expected to have a positive impact on various sectors like Travel & Tourism, Hotels, Consumers, and QSR, thus these sectors are likely to remain in momentum.”
Expert Recommendations for Stock Investments
Avinash Gorakshkar, Head of Research at Profitmart Securities, elaborated on the opportunities presented by mega sporting events like the ICC World Cup. He emphasized that host nations often benefit from both local and international sports tourism, with fans meticulously planning their trips around their team’s schedule. As a result, investments in sectors such as hospitality and breweries tend to flourish during such events.
Gorakshkar outlined some stock recommendations for investors looking to capitalize on the ICC World Cup 2023:
Hotels: Consider investing in Indian Hotels and Lemon Tree for potential short-term gains.
Breweries: United Breweries, McDowell-N, and Radico Khaitan are recommended as attractive options for those eyeing the brewery sector.
QSR (Quick-Service Restaurants): Investors interested in the QSR space should explore Devyani International and Barbeque-Nation Hospitality shares.
As cricket fever continues to grip the nation, investors are eagerly exploring these stock options, hoping to score big during the ICC World Cup 2023. However, as with any investment, it is crucial for investors to conduct thorough research and consider their financial goals and risk tolerance before making any decisions.
