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Wednesday, June 19, 2024

This Indian cricket team has become the ITC of unlisted market; its stocks are up by 15% after IPL win

MS Dhoni-led Chennai Super Kings (CSK) have broken a record in the history of the Indian Premier League (IPL) by becoming the first side to ever win the competition for a record-tying fifth time. Since it was first introduced to the unlisted market in 2017-2018, the franchise has quickly become one of the most well-known names in the industry.

Shares of The Chennai Super Kings (CSK) first started trading at anywhere between Rs23 and Rs28. The stock was trading between 145 and 150 rupees prior to the recent winning of the franchise; following the victory, it has grown to 168 rupees, up by 15%.

One of the most recognizable franchises in the history of league cricket, the MS Dhoni-led CSK team pulled off an incredible victory to claim a record-tying fifth Indian Premier League title.

The win for the brand, which garnered incredible audiences and unwavering support throughout the tournament, almost appeared as if “it was meant to be” for the franchise.

Since it entered the unlisted market, Chennai Super Kings has been the most sought-after brand in the industry, which is something that shouldn’t come as a surprise to anybody. In the vicinity of 2017–2018, the franchise debuted for the first time in the unlisted competition.

According to analysts who follow the unlisted market, the stock of the firm has always had enormous popularity, and in fact, there has been tremendous demand for the shares of the company ever from the first day they were offered for sale.

According to one of the analysts, “it is comparable to an all-weatherITCstock on the private market.”

CSK shares began trading at roughly 23-28 rupees, and they reached an all-time high of 230 rupees in 2022, at the height of the enthusiasm surrounding the startup environment in India. CSK shares began trading at approximately 23-28 rupees.

“The maximum trades that happened for Chennai Super Kings were above Rs 160 in the last two to three months during the IPL,” said Thejas Jagannath, Senior Lead Strategy at UnlistedKart. “This was the case for the majority of trades that took place during the tournament.”

No matter how the Indian Premier League turns out, according to Jagannath, the value of the company’s shares, which are now estimated to be somewhere about 5,600 crore, has been increasing at a rate of 10-15% per year.

Even if there are other franchises that have not yet entered this arena, analysts believe that the most popular league team is the Chennai Super Kings. This helps put things into perspective. The Mumbai Indians and the Rajasthan Royals now hold the positions of distant second and third, respectively.

Following the company’s achievement of the title, the stock has increased by 15% and is now selling at Rs 168 per share.

The names CSK and Dhoni have always been connected with one another. During the Indian Premier League, supporters flocked to stadiums in unprecedented numbers with the expectation that this would be the last time they would see their captain, MS Dhoni, who is affectionately referred to as “Thala” (The leader).

Dhoni, in his typically cryptic manner, gave the impression that he would attempt to make a comeback for the following season as a “return gift” for all of the affection he’d gotten throughout this season’s tournament. When Dhoni finally hangs his boots up, it would be intriguing to observe the trajectory that CSK will take without him. But we’ll save that discussion for another day.

Newsdesk

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