The ICC World Cup 2023, which kicked off last week and will conclude with the final match on November 19, 2023, is set to have a significant impact on various sectors, according to experts. This quadrennial One Day International (ODI) cricket tournament, spanning nearly one and a half months, will cover almost half of Q3FY24.
Market analysts anticipate that the ICC World Cup 2023 will bring benefits to companies in the travel and tourism, hotel, quick-service restaurant (QSR), and brewery sectors. Companies within these segments are expected to see increased business opportunities as a result of the cricket World Cup, making them attractive options for short-term investors.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, expressed his views on the potential impact of the World Cup on these sectors, stating, “The World Cup 2023 began in India last week, and it is expected to have a positive impact on various sectors like Travel & Tourism, Hotels, Consumers, and QSR, which are likely to remain in momentum.”
In light of the ICC World Cup 2023, experts recommend considering stocks from companies such as LemonTree, Indian Hotel Company, United Spirits, or McDowell-N, among others, as potential investment opportunities.
Avinash Gorakshkar, Head of Research at Profitmart Securities, emphasized the role of host nations benefiting from local and international sports tourism during major sporting events like the cricket World Cup. Fans typically follow their teams’ schedules and make bookings for hotels, flights, and transportation accordingly. They also tend to spend on brewery and eateries, creating potential investment opportunities for short-term investors.
In the hotel segment, Indian Hotels and Lemon Tree are suggested as potential options. For those interested in the brewery sector, United Breweries, McDowell-N, and Radico Khaitan are considered promising bets for short-term investments. Additionally, investors looking at QSR stocks can explore options such as Devyani International and Barbeque-Nation Hospitality.
As the ICC World Cup 2023 unfolds, investors are keeping a close watch on these sectors for potential growth and profit opportunities.
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