Stocks such as Interglobe Aviation, Trident, Network 18, Taj Gvk Hotels, and Indian Hotels will be in focus as Indian Premier League (IPL) starts from Friday March 22.
The tournament will be held from March 22, 2024 to May 26, 2024 and played across 10 venues including Chennai, Chandigarh, Kolkata, Jaipur, Ahmedabad, Bengaluru, Hyderabad, Lucknow, Visakhapatnam and Mumbai.
Here are the key stocks that can benefited from IPL 2024
TV18 Broadcast
TV18 Broadcast, a subsidiary of the Reliance-owned Network18 Group, manages a diverse array of platforms spanning news, entertainment, and infotainment genres. Additionally, it oversees the group’s motion picture business and the JioCinema over-the-top (OTT) platform.
Notably, in the previous year, Mukesh Ambani, Chairman of Reliance, acquired the streaming rights for the IPL, the world’s second most valuable sporting league, for slightly over Rs 205 billion.
In terms of stock performance, TV18 Broadcast shares have demonstrated mixed returns across multiple time frames. Over the past month, the stock has given negative reuturns over 21.33% returs. The last six months have seen even a small rally of 9%.
Year-to-date, TV18 Broadcast shares have droped by 4.32%, reinforcing the stock’s negative momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 64.90% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
Interglobe Aviation
As the IPL will take place across 10 different venues in India, one of the dominant players in the aviation industry will be in focus as IndiGo provides most of the travel facilities to players, support staff, and others across the country.
In terms of stock performance, IndiGo shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 4.89% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 37.94%, indicating a strong upward trend.
Year-to-date, IndiGo shares have surged by 11%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 73.73% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
Hotel stocks
Hotel stocks such as Indian Hotels, Trident, and Taj GVK Hotels will remain in focus as they will provide hospitality services in 10 different locations across the country to team members, support staff, commentators, and other members.
Talking in terms of stock performance, the hotel stocks have been under pressure for the last month. However, the broader picture indicates that hotel stocks have provided robust returns over the past 6 months to 1 year timeframe.
