'Consumer' stocks likely to be stars of this World Cup
World Cup hosted by India kicks off, investors are combing through the market to spot stock winners who could be beneficiaries of the country's most popular sport.
Brokerage Jefferies said several consumer-facing businesses could see an uptick in sales as the World Cup coincides with the peak festive season.
The firm is positive on hotels, airlines, media, and online food delivery businesses, among others.
Cricket attracts over 85% of all sports-related sponsorship and media spending in India. The brokerage said the last edition in 2019 saw 750 million unique viewers and 14 billion hours of total viewing time.
«As cricket is the most popular sport in India with a significant viewer base, consumption & media activity should be at its best over the next 45 days, already evident in flight/hotel rates,» said Jefferies' analysts Vivek Maheshwari, Kunal Shah and Jithin John in a note to clients.
