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 benefit 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.
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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.