Shares of Chennai Super Kings (CSK) Gained by 50%
Shares of Chennai Super Kings (CSK) Gained by 50%
The COVID-19 pandemic has already cast doubt on the feasibility of this year’s Indian Premier League (IPL). The Board of Cricket Control Council of India (BCCI) has currently postponed the IPL 2020 season and is doing its best to try to see if the tournament can be held in the second half of this year.
Here is very good news to all investors in the off market for trading in unlisted shares who are worried about dealing with – How will CSK stocks in unlisted areas change, amid IPL 2020 Speculations?
With speculation surrounding the Indian Premier League (IPL 2020) season, the stock of the Chennai Super Kings (CSK) is booming. Since the end of April, speculation surrounding the beginning of the league has increased CSK’s shareholder wealth by nearly 50 per cent.
The demand in the market for CSK shares has been from Rs. 20-22 and stock prices are now trading at Rs. 34-35 in the grey market. It leads to the shareholders, in the last 3 months in the team led by Mr. Mahendra Singh Dhoni, have already received 50% of the proceeds even the final dates of IPL 2020 have not been decided yet.
If the tournament does hold, unlisted stock traders expect the stock to rise further by 50 per cent.
Mr. Dinesh Gupta from Unlisted Zone, one of the trusted firms that deal in unlisted shares, has said in his statement, “If the IPL does take place this year, the scrip may rise to Rs 45-50 levels, considering the euphoria in the secondary markets and quality of the stock. MS Dhoni is one of the biggest reasons for holding up the CSK stock in the unlisted space. Many investors have bought the stock only because of Dhoni. If he decides to hang up his boots, it may see a 25-30 per cent correction.”
The BCCI is looking and exploring the possibility of holding the IPL season somewhere outside of India either in the month of September or October. Sri Lanka, New Zealand and the UAE will be the frontrunners to host the event.
Even if the BCCI successfully manages to host the event, it may be restricted to fewer matches and grounds, which will reduce the expected expenses while operations.
Buy Chennai Super Kings Cricket Limited Shares
The Chennai Super Kings Cricket Limited is the one of the most demanded and traded stocks in the unofficial market. It is a public incorporated and was established on December 19, 2014. The CSK, led by Indian cricket captain Mr. Mahendra Singh Dhoni, was demerged from India Cements in 2016.
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