CSK start their share market journey on a high: IPL Champions have started a new and so far successful off-the-field journey.
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Chennai Super Kings, defending champions of the Indian Premier League, have embarked a new journey, one which is unrelated to cricket by any means. The three-time IPL-winning franchise has started trading in off-market.
Their move has been readily accepted by the buyers who are showing keen interest in buying CSK’s shares to the extent that the franchise has been successful in creating a boom-sort of environment.
Also read: CSK release three players ahead of IPL 2019 Auction.
According to a report in The Economic Times, the estimated value of their share in the stock market is supposed to be between INR 13-15 per share. It has put the company’s evaluation around Rs 450 crore as against its brand value of $98 million (Rs 691 crore).
“Many investors who got CSK shares early this week were seen selling them off market between Rs 13-15 per share. Savvy investors are interested in buying CSK shares,” Narottam Dharawat, a Mumbai-based broker who deals in unlisted shares was quoted as saying by the Economic Times.
Also read: 3 players which CSK should buy in the upcoming auctions.
“Nearly 4 lakh shares changed hands in the last two days at a price between Rs 12 and Rs 15. Shares are trading at lower level because of CSK’s tainted history,” Delhi-based unlisted shares trader Anil Goel was quoted as saying by the same newspaper.
While this step is highly likely to associate more people with the franchise, it will also aid the franchise in improving its image, which was disrupted after them being banned for a couple of years.
With them winning this year’s tournament, the franchise owners couldn’t have asked for more from its players.
Read some of the latest Twitter reactions on Chennai Super Kings below:
