The ICC World Cup 2023, a thrilling cricket spectacle that commenced last Thursday, is set to continue until November 19, 2023. This year’s quadrennial One Day International (ODI) cricket tournament is poised to play a significant role in the financial landscape for the next month and a half, spanning almost half of Q3FY24.
Market experts are forecasting positive outcomes for companies in the travel, hospitality, quick-service restaurants (QSR), and brewery sectors during the ICC World Cup 2023. They suggest that these industries are likely to experience increased business opportunities due to the cricket extravaganza, making them appealing options for short-term investors.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, noted, “The World Cup 2023, which began in India last week, is expected to have a positive impact on various sectors like Travel & Tourism, Hotels, Consumers, and QSR. Therefore, these sectors are expected to remain in a favorable momentum.”
Avinash Gorakshkar, Head of Research at Profitmart Securities, elaborated on the impact of ICC World Cup 2023 on the stock market. He stated, “In grand events like the cricket World Cup or soccer World Cup, the host nation reaps the benefits of local and international sports tourism. Fans diligently follow their teams, making reservations for hotels, flights, and other modes of transportation in accordance with the game schedule. Additionally, they tend to spend significantly on brewery and eateries. For this reason, short-term investors should consider quality stocks within sectors poised to benefit from ICC World Cup 2023.”
Gorakshkar provided recommendations for stocks to consider during the cricket World Cup. In the hotel segment, he suggested considering Indian Hotels and Lemon Tree. For the brewery sector, he recommended United Breweries, McDowell-N, and Radico Khaitan as promising short-term investments. Furthermore, he advised stock market investors interested in QSR stocks to explore Devyani International and Barbeque-Nation Hospitality.
In conclusion, the ICC World Cup 2023 is expected to create opportunities for investors in various sectors, especially travel, hospitality, QSR, and brewery. Short-term investors may find these stock recommendations valuable as they aim to capitalize on the tournament’s positive impact on these industries.
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