ICC World Cup 2023: Experts recommend these stocks to buy today. Should you buy?
ICC World Cup 2023 began on Thursday and the cricket gala will end with final match taking place on 19th November 2023. This means the quadrennial One Day International (ODI) cricket tournament will last for near one and half month, almost half of Q3FY24.
According to stock market experts, the ICC World Cup 2023 is going to benefit tour & travel business companies along with hotels, QSR, brewery, etc. Companies belonging to these segments are expected to reap some extra business due to this cricket world cup tournament and advised short term investors to look at buying stocks from these segments.
“Exciting news! Mint is now on WhatsApp Channels ???? Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
On stocks to buy with ICC World Cup 2023 cricket tournament in mind, Siddhartha Khemka, Head – Retail Research at Motilal Oswal said, “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.”
RBI Monetary Policy Live Updates: MPC likely to keep repo rate unchanged
Stocks to buy today
On ICC World Cup 2023 impact on stock market, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “In gala events like cricket world cup or soccer world cut, host nation gets benefit of local and international sports tourism. It has been seen that fans follow their team as per their schedule and book hotels, flights and other modes of transports keeping the schedule in mind. They also spend a lot on brewery and eateries. So, short term investors should inest in quality stocks of the sector getting benefitted from the event.”
On shares to buy today, Avinash Gorakshkar said, “In hotel segment, one can buy Indian Hotels and Lemon Tree whereas in brewery segment United Breweries, McDowell-N and Radico Khaitan can be a good bet for short term investors.” He said that stock market investors can look at Devyani International and Barbeque-Nation Hospitality shares if they are looking to invest in QSR stocks.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
“Exciting news! Mint is now on WhatsApp Channels ???? Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
Download The Mint News App to get Daily Market Updates.
Updated: 06 Oct 2023, 09:26 AM IST
