The ICC World Cup 2023 began on Thursday and the cricket gala will end with the final match on November 19, 2023. This means that the quadrennial One-Day International (ODI) cricket tournament will last for nearly one and half months, almost half of Q3FY24.
According to stock market experts, the ICC World Cup 2023 is going to benefit tour and travel business companies as well as hotels, QSR, breweries, etc. Companies belonging to these sectors are expected to reap additional business due to this Cricket World Cup tournament and advised short-term investors to look at buying stocks from these segments.
On stocks to buy with the 2023 Cricket tournament in mind, Siddhartha Khemka, Head of Retail Research at Motilal Oswal, said: “The 2023 Cricket World Cup began on Thursday in India, which is expected to have a positive impact on various sectors such as travel, tourism, hotels, consumer and QSR, thus these sectors are likely to remain in momentum.
Stocks to buy today
On the ICC World Cup 2023 impact on the stock market, Avinash Gorakshkar, Head of Research at Profitmart Securities, said: “In gala events like the Cricket World Cup or Football World Cup, the host country benefits from domestic and international sports tourism. It has been seen that fans follow their team as per their schedule and they book hotels, flights, and other modes of transport keeping the schedule in mind. They also spend a lot in breweries and restaurants. Therefore, short-term investors should invest in high-quality stocks of the sector getting benefitted from the event."
On shares to buy today, Avinash Gorakshkar said: “In the hotel segment, one can buy Indian Hotels and Lemon Tree, whereas in the brewery sector, United Breweries, McDowell-N, and Radico Khaitan can be a good bet for short-term investors.” Stock market investors can look at Devyani International and Barbeque-Nation Hospitality shares if they want to invest in QSR stocks.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not those of Business2Business. Investors are advised to consult certified experts before making any investment decisions.