In season of gloom, IPL to accelerate off-take of in-house consumables

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    New Delhi, April 9 | The mega sporting event — IPL 2021 — is expected to give an added support to the in-house consumable, advertisement as well as e-commerce segment this season.

    The BCCI-backed IPL draws its financial muscle from millions of fans and followers along with franchises who invest handsomely on players and branding.

    It is counted as one of the most watched sporting events in the world. The IPL 2021 will be played in April-May 2021 in India.

    Not surprisingly, mobile handset maker VIVO returned after a gap of one year to replace Dream11 as the title sponsor for IPL 14.

    The company had signed a deal worth Rs 2,199 crore with BCCI for IPL’s title sponsorship.

    Besides, this time around, the resurgence of Covid-19 infections, night curfews and localised lockdowns will add more significance to the sporting event for its fans and business opportunities for the select segments.

    Notably, Technopak Advisors’ Chairman Arvind Singhal said the viewership of the IPL is expected to be much higher this year which will benefit franchisees and advertisers.

    “Because of penetration of smartphones, high-speed internet, that has dramatically improved since the last IPL was held, we will see much better traction from the viewers,” he told IANS, adding that, it will add to the revenue of BCCI and the franchisees.

    In terms of increase in consumer demand, he said that as food delivery demand has always been high during IPL, the uptick this time would be healthy as people would not be able to watch matches sitting at bars and restaurants.

    Talking of the restrictions and the night curfews across cities and states, Singhal said: “All the restrictions put together are indirectly going to benefit IPL.”

    According to Suman Chowdhury, Chief Analytical Officer at Acuité Ratings and Research: “While the resurgence of Covid cases has increased the risks of disruption to IPL 2021, online viewership is likely to remain high and may continue to benefit the online food delivery platforms which have been permitted to make deliveries despite containment measures taken in some states.”

    Additionally, India and RCB Captain Virat Kohli expects a healthy IPL viewership this season due to the teams playing at neutral venues which will make the tournament more competitive like last year, when it was played in the UAE.

    The IPL 2020 was the most watched sporting event last year in India.

    Source: IANS

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    Weekly Fundamental Market Outlook

    Weekly Fundamental Market Outlook

    Indian share market posted its first weekly gain in Jun by rising 2.7%.

    This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

    While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

    Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

    In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

     

    Post Disclaimer by BhaskarLive.in

    The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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