CSK start their share market journey on a high: IPL Champions have started a new and so far successful off-the-field journey.
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.
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.
“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:
Yuvraj Singh to Chennai Super Kings: Fans want CSK to reunite MS Dhoni with his old mate ahead of IPL auctions: @YUVSTRONG12
Fans feel Yuvraj can revive his IPL career under MS Dhoni at Chennai Super Kings | Photo – PTI/AP | pic.twitter.com/3accYdx9jw
— Brajendra Trivedi (@BrajendraTrive2) November 24, 2018
I think Chennai super kings should pick Yuvraj Singh in IPL auction 2019. He is best batsman and bowler also. CSK will enough strong after picked Yuvraj Singh.
And CSK also picked Mohit Sharma and Irfan Pathan
— captain sahil khan (@captainsahilkh2) November 24, 2018
Unfortunately I won’t be returning to @ChennaiIPL for the 2019 @IPL season. I would like to thank the fans for the unforgettable support I have received, you guys are class 👏🏻 I wish the team all the best for next season! Once a Super King, always a Super King 💛 #WhistlePodu pic.twitter.com/oUr1sJHpda
— Mark Wood (@MAWood33) November 16, 2018
If @YUVSTRONG12 plays for @ChennaiIPL not only the MSD-YUVI legacy will be rewritten but also Raina-Yuvraj heroics will be rewritten again. Not only we know the midas touch that @msdhoni has with his captaicy but also having the legend Yuvraj will add so so much to the CSK unit!
— Tejas S Mishra (@tejasmishra1997) November 23, 2018