Cricket World Cup to boost consumption across sectors for host India - Jefferies

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05/10/2023 07:18

** The cricket World Cup campaign beginning on Oct. 5 in
India will boost sectors like quick service restaurants (QSR),
food delivery, beverages, hotels and airlines, Jefferies said in
a note
    ** Jefferies expects companies to run World-Cup specific
promotions on match days to tap consumption boost
    ** Says, consumption spurt is evident in flight and hotel
bookings; fares have shot up on India match days 
    ** Adds, expect a surge in media activity in coming weeks;
Nifty media index  .NIFTYMED  up 1.7%
    ** There should be negative impact on footfalls for movie
theatres, theme parks, and offline brick-and-mortar retailers -
Jefferies
    ** QSR stocks like Restaurant Brands Asia  RESR.NS , Devyani
International are up 4% and 1.2%, respectively, food delivery co
Zomato  ZOMT.NS  up 2.5% on Thursday

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))