Cricket holds a special place in the hearts of Indians, uniting people across the nation. The anticipation is building as the ICC Cricket World Cup 2023 is set to take place in India, 12 years after it last hosted the tournament.
The event is not only a chance for the Indian team to secure a trophy that has eluded them for a decade, but it’s also a golden opportunity for stock market investors.
The 2023 World Cup is expected to boost the shares of many Indian companies. This scenario creates a lucrative environment for investors looking to benefit from the fervor surrounding this international event. As the tournament approaches, identifying and investing in stocks related to the cricketing event can potentially lead to significant financial gains.
The table below summarizes the potential beneficiaries in the stock market from the ICC World Cup 2023 event, highlighting the companies’ sectors and the reasons for their expected benefits.
| Company Name | Sector/Industry | Reason for potential benefit from ICC World Cup 2023 |
| Reliance Industries Ltd | Diversified: Energy, Retail, Telecom | Increased sales of food, drinks, electronics; higher demand for internet and cable TV. |
| The Indian Hotels Company Ltd | Hospitality | Higher occupancy rates due to influx of cricket fans. |
| Jubilant FoodWorks Ltd | Food Service | Increased food delivery orders during match times. |
| Varun Beverages Ltd | Beverages | Higher sales of drinks, especially energy drinks. |
| Westlife Foodworld Ltd | Food Service | Increased food traffic in fast food outlets. |
| United Spirits Ltd | Alcoholic Beverages | Increased sales of alcoholic beverages during celebrations. |
| Interglobe Aviation Ltd (IndiGo) | Aviation | Increased air travel and other related services. |
| IRCTC | Online Ticketing, Food & Tourism | Increased use of online ticketing, food services, and tourism packages. |
| Zomato Ltd | Food Delivery | Increased food delivery orders during match times. |
| Network 18 Media Investments Ltd | Media | Increased viewership and ticket sales through platforms like BookMyShow. |
| Entertainment Network (India) Ltd | Media | Increased advertising spending due to higher viewership during the tournament. |
Reliance Industries Ltd
Reliance Industries isn’t just a big company in the energy field. It also sells things like food, drinks, and electronics. When big events like the ICC World Cup happen, more people buy these things.
Reliance also owns companies like Den Networks and Hathway Cable and Datacom Limited that give people internet and cable TV. During the World Cup, more people will want good internet and TV to watch the matches, which could mean more money for Reliance.
On 18th October 2023, the NSE and BSE benchmark index climbed up to Rs 2324 & Rs 2423.00 respectively.
The Indian Hotels Company Ltd
This company manages big hotel chains like Taj and Vivanta. When big sports events happen, many people come to stay in hotels. Since the World Cup is happening in India, many cricket fans will come from different places to watch.
This could mean more people staying in these hotels, which could increase the money the company makes. Hotels anticipate full occupancy in October-November, driven by the World Cup and festival holidays.
The Indian Hotels Company, managing chains like Taj and Vivanta, Ginger, The Gateway, SeleQtions, and Trails eyes significant profit.
Its shares, trading at Rs. 430.05 on NSE as of 5 September 2023, hit a 52-week high, with a further rise expected in the coming 4-6 months. On 18th October, the NSE and BSE are at Rs. 412.85 and Rs. 412.75.
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Jubilant FoodWorks Ltd
Jubilant FoodWorks runs Domino’s Pizza and Dunkin’ Donuts in India, and also has its own brand called Hong’s Kitchen. During the World Cup, more people might order food for delivery, especially when there’s a match going on.
This could mean more sales for Jubilant FoodWorks, especially because they have different kinds of food to offer.
As of October 18th, 2023, shares of Jubilant FoodWorks were valued at Rs. 531.50 on the NSE and Rs. 531.40 on the BSE. Despite a negative return over the past year, they are anticipated to exhibit a favorable performance in the months ahead.
Varun Beverages Ltd
Varun Beverages is a company in the drink business, with a focus on energy drinks. During the ICC World Cup 2023, as people cheer for cricket teams, more drinks will be sold. Their energy drink, Sting, is liked by many. They also have new types of drinks which could increase their sales and money earned.
As of October 18th, 2023, shares of Varun Beverages Ltd were valued at Rs. 925.35 on the NSE and Rs. 925.45 on the BSE.
Westlife Foodworld Ltd
Westlife Foodworld runs McDonald’s in West and South India through a company called Hardcastle Restaurants Pvt Ltd. During the cricket matches, more people will visit fast food places. This means more sales for them.
As of October 18th, its shares were valued at Rs. 932.45 on the NSE and Rs. 932.00 on the BSE.
Also Read: Indian Hotels Company Ltd.
United Spirits Ltd
United Spirits is a company that sells alcoholic drinks. Big sports events like the ICC World Cup 2023 often increase the sales of such drinks. With many liked brands, United Spirits might see more sales as cricket fans celebrate wins.
On 18th October 2023, its share price was Rs. 1,056.35 on NSE and Rs. 1,056.80 on BSE.
Interglobe Aviation Ltd
Interglobe Aviation, also known as IndiGo, is set to gain from the ICC World Cup 2023 in India. It provides flight services, handling cargo before and after flights, and other related services across various Indian and international airports.
IndiGo holds a big market share of 63.2% (as of June 2023) in India’s aviation sector.
On 18th October 2023, its share price was Rs. 2,571.55 on NSE and Rs. 2,568.75 on BSE. The shares have already given a return of 21.17% in the past year, with chances of further increase in the coming months.
IRCTC
For many in India, flying is costly, making Indian Railways a more affordable choice. IRCTC, a public-sector company, handles online ticketing, food services, and tourism for railway passengers.
It offers holiday packages, payment options, and e-wallet services under its tourism and ticketing segment. Budget accommodation is also provided through Rail Yatri Niwas and BNR Hotels.
On 18th October 2023, IRCTC shares were priced at Rs. 703.85 on NSE and Rs. 703.70 on BSE.
Zomato Ltd
Zomato, a food delivery service, may get more orders during the ICC World Cup 2023. Cricket fans might prefer home-delivered food while watching the games.
On 18th October, Zomato shares were priced at Rs. 113.20 on NSE and Rs. 113.20 on BSE.
Network 18 Media Investments Ltd
Network 18 Media Investments has many areas like TV, print, digital, and OTT platforms including BookMyShow, the ticket seller for ICC World Cup 2023. It could gain from more people watching and buying tickets during the games.
The share prices of Network 18 Media Investments Ltd on 18th October 2023 was Rs. 77.95 on NSE and Rs. 78.69 on BSE.
Entertainment Network (India) Ltd
Entertainment Network (India) could do well as advertisers might spend more due to more people watching the World Cup. They have shown good growth recently, which might continue during the tournament.
Also Read: Sri Lanka’s comeback: Hosting Asia Cup 2023
The share prices of Entertainment Network (India) Ltd on 18th October 2023, was Rs. 186.95 on NSE and Rs. 187.05 on BSE.
Bottom Line
The ICC Men’s Cricket World Cup 2023, hosted in India, brings more than cricket cheers; it opens economic doors for several businesses. Companies see a rise in sales, filled-up spaces, and a high demand for their services as cricket enthusiasm takes over.
While stock prices are unpredictable, monitoring these sectors’ performance in the quarter during the games can give useful investment clues. In India, cricket isn’t only a sport; it’s a chance for a financial score that’s worth a close watch.
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