ICC World Cup 2023: Buy these stocks now, according to experts. Must you purchase?

 ICC World Cup 2023: Buy these stocks now, according to experts. Must you purchase?

The ICC World Cup 2023 got underway on Thursday, and it will culminate on November 19, 2023, with the championship game. The yearly One Day International (ODI) cricket tournament will thus continue for over one and a half months, or roughly half of Q3FY24.

Stock market specialists predict that the ICC World Cup 2023 will be profitable for tour and travel agencies as well as hotels, quick service restaurants, pubs, etc. Due to the anticipated increased business brought on by the cricket world cup, companies in these segments have recommended short-term investors to consider investing in their stocks.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, commented on stocks to buy in light of the ICC World Cup 2023 cricket tournament, saying, "The World Cup 2023 began on Thursday in India, which is projected to have a favorable effect on various sectors like Travel & Tourism, Hotels, Customers are and QSR, thus these sectors are likely to remain in momentum."

stock picks for today

Avinash Gorakshkar, Head of Research at Profitmart Securities, commented on the influence of the ICC World Cup 2023 on the stock market: "In gala events like the cricket world cup or the soccer world cup, the host nation gets advantage from local and international sports tourists. Fans have been observed to follow their team according to their schedule and to make travel arrangements such as hotels, flights, and other forms of transportation by doing the same. They also spend a lot of money on restaurants and breweries. Therefore, short-term investors should place their bets on high-quality stocks in the industry that will gain from the event.

Avinash Gorakshkar offered the following advice on stocks to buy today: "In the hotel segment, one can buy Indian Hotels and Lemon Tree, while in the brewery segment, United Breweries, McDowell-N, and Radico Khaitan can be a good bet for short term investors." If stock market investors want to invest in QSR equities, he advised them to choose Barbeque-Nation Hospitality and Devyani International.