ICC World Cup 2023 & the Stock to Watch

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by Tanushree Jaiswal Last Updated: Oct 04, 2023 - 05:32 pm 770 Views
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The ICC Men's Cricket World Cup 2023 is not just a sporting event; it's a cultural phenomenon, especially in cricket-crazy countries like India. The tournament, set to begin on October 5, 2023, promises intense cricket action and, interestingly, financial opportunities. One stock that stands out as a potential beneficiary of the cricketing frenzy is Zomato Limited (NSE: ZOMT). In this blog, we'll delve into how Zomato is strategically positioning itself to capitalize on this opportunity.

Cricket in India: A Religion and an Investment Opportunity

Cricket in India is more than just a sport; it's a religion that unites millions. This fervor extends to not just the game itself but also the experiences around it. One such experience is enjoying delicious food while watching the matches, and this is where Zomato comes into the picture.

Zomato's Unique Position

While established chains like Domino's Pizza were once the go-to option for food delivery during cricket matches, Zomato has disrupted the market with its super-fast delivery services, including groceries. This advantage positions Zomato as a prime choice for cricket enthusiasts looking to order food and snacks to elevate their viewing experience.

The Catalyst: Platform Fee Hike

What could work as a catalyst for Zomato during the ICC World Cup 2023 is its recently increased platform fee of INR 2 in select markets. This fee is applicable regardless of the order value, even for Zomato Gold members. This strategic move is expected to boost Zomato's profitability during the tournament, thanks to the anticipated surge in orders.

Zomato's Financial Performance

Zomato has recently achieved a significant milestone by becoming net profitable for the first time in Q1 FY24, with a net income of INR 2 crore. This achievement has ignited optimism in the market, with expectations of sustained profit growth. As the next earnings season approaches, the anticipation of a robust bottom line is likely to further boost Zomato's stock price.

Stock Performance: Bullish Run and Recent Milestones

Zomato's stock has been on a bullish run since April, witnessing a staggering 77.4% year-to-date increase and more than 100% growth over the last six months. Despite a turbulent start in the stock market in 2022, Zomato now trades only 8% below its listing price of INR 115, showcasing a remarkable recovery.

Zomato's Strategic Initiatives

Zomato is not just relying on cricket enthusiasts' food orders; it's actively experimenting with new features to boost revenue. One such move includes charging a platform fee per food delivery order, which is expected to enhance customer take rates and contribution margins, according to Kotak Institutional Equities.

Long-Term Growth Prospects

Bernstein, a prominent financial institution, recently noted that Zomato is "raising the profitability bar." The company could potentially deliver long-term, high-teens growth in food delivery, thanks to continued improvements in contribution margins.

Market Dynamics and Other Players

While Zomato is gearing up for the ICC World Cup, other new-age tech stocks like CarTrade Technologies, MapmyIndia, Paytm, and EaseMyTrip are also making gains in today's trading session. The stock market landscape is dynamic, and these stocks are responding positively to market conditions.


As the ICC Men's Cricket World Cup 2023 kicks off, Zomato finds itself in an advantageous position to leverage the cricketing fervor. With its recent profitability milestone, strategic fee hikes, and strong market performance, Zomato is undoubtedly a stock to watch during this exciting cricket season. Cricket enthusiasts and investors alike will be keenly observing how Zomato capitalizes on this unique opportunity to further enhance its financial performance.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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