The Indian Premier League (IPL) 2024 is the 17th edition of the franchise Twenty20 cricket league in India, organized by the Board of Control for Cricket in India (BCCI). The tournament features ten teams and will be held from March 22 to May 26, 2024.
The Tata Group has renewed their contract as the title sponsor for the IPL for a tenure of 5 years i.e., from 2023 to 2028. Further, Star Sports will be the official TV broadcaster, and JioCinema will be the official digital broadcaster for the season.
The opening match of IPL 2024 will feature the Chennai Super Kings (CSK) against the Royal Challengers Bangalore. This exciting match is scheduled to take place at the MA Chidambaram Stadium in Chennai on Friday, March 22. The defending champions, Chennai Super Kings, led by Captain Ruturaj Gaikwad, will kick off the tournament against the Royal Challengers Bangalore, captained by Faf du Plessis.
Here are the details of who owns the legendary teams RCB and CSK:
United Breweries Ltd
The Royal Challengers Bangalore (RCB) team is currently owned by United Spirits Limited, which is a subsidiary of Diageo Group, a global leader in the alcohol industry. Since its inception, United Spirits has been the parent company of RCB.
Earlier, the team was owned by Vijay Mallya, who purchased the franchise in 2008 for 111.6 million US dollars. However, due to financial issues, Mallya no longer owns RCB, and the team is now solely owned by United Spirits.
United Spirits Limited, formerly known as United Breweries, is an Indian alcoholic beverage company that produces a wide range of spirits, beer, and wine. The company has a significant presence in the alcohol industry and boasts an impressive portfolio of brands that sell millions of cases annually.
With a market capitalization of Rs. 45,716 crores, the shares of United Breweries started Friday’s trading session on a lower note at Rs. 1,718.05 compared to its previous close of Rs. 1,720.70. During the trading session, the shares hit a high of Rs. 1,737.50, gaining around 2 percent and are currently trading at Rs. 1,730 apiece.
Coming onto the company’s financial statement, the revenue decreased by 3 percent from Rs. 1,890 crores during the September quarter to Rs. 1,824 crores in the December quarter. On the other hand, the net profits declined by 20 percent from Rs. 107 crores to Rs. 86 crores during the same period.
India Cements Ltd
The Chennai Super Kings (CSK) team is owned by India Cements Limited through their holding company, Chennai Super Kings Cricket Limited. The current owner of CSK is N. Srinivasan, who is an Indian businessman and industrialist, as well as the Managing Director of India Cements. N. Srinivasan has been associated with CSK since its debut in IPL.
N. Srinivasan has played a significant role in the acquisition of the Chennai Super Kings IPL franchise, who purchased the franchise in 2008 for 91 million US dollars.
India Cements is a cement manufacturing company based in Chennai, India. It is one of the leading cement manufacturers in the country and is known for its quality products. It was incorporated in the year 1946 by Shri S
N N Sankaralinga Iyer and Sri T S Narayanaswami. Furthermore, India Cements has also ventured into related fields like shipping, captive power and coal mining that have purposeful synergy with the core business.
With a market capitalization of Rs. 6,433 crores, the shares of India Cements Ltd started Friday’s trading session on a flatter note at Rs. 203.70. During the trading session, the shares hit a high of Rs. 208.45, gaining around 2 percent and are currently trading at Rs. 207 apiece.
According to the company’s financial statements, the revenue decreased by 9 percent from Rs. 1,264.39 crores during the September quarter to Rs. 1,144.46 crores in the December quarter. On a contrasting note, the net profits showcased a transition from a net loss of Rs. 79.79 crores to a net profit of Rs. 99 lakhs.
Written By Vaibhav Patil
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