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New Delhi, The Indian Premier League (<keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword>) has become a decacorn as the overall combined brand value has crossed the 10 billion dollars mark. As of now, IPL's brand value stands at 10.7 billion dollars, as compared to 8.4 billion dollars in 2022, thus registering an increase by 28%. A report by brand valuation consultancy Brand Finance said the total brand value of the IPL has surged by 433 per cent since its launch in 2008. It added that the IPL's significant growth is attributed to factors including a media rights deal amounting to 6.2 billion dollars (INR 48,390 crore), an increase in the central pool of IPL revenues, the addition of two franchise teams, and the return to full stadium attendance in 2023 after the Covid-19 pandemic. It further said five-time champions Mumbai Indians have emerged as the most valuable IPL brand at 87 million dollars, followed by fellow five-time winners Chennai Super Kings (CSK), which is now the second most valuable brand with a value of 81 million dollars. Other franchises in the top five list include two-time winners <keyword id="262945" type="General" weightage="50" keywordseo="kolkata-knight" source="Orion">Kolkata Knight</keyword> Riders (KKR) and <keyword id="6354506" type="General" weightage="50" keywordseo="royal-challengers-bangalore" source="Orion">Royal Challengers Bangalore</keyword> (RCB) at 78.6 million dollars and 69.8 million dollars, respectively. IPL 2022 winners Gujarat Titans (GT) showed a huge increase in its brand value ranking with a 38 percent growth and securing the fifth position, which is a jump from the eighth-place last year. <keyword id="13023526" type="General" weightage="50" keywordseo="lucknow-super-giants" source="Orion">Lucknow Super Giants</keyword> (LSG) are at the eighth position with a brand value of 47 million dollars and is now the fastest-growing IPL brand, up by 48 percent. The report added that despite starting with a relatively lower base, LSG has made substantial strides in the valuation landscape. IPL franchises are also continuing to expand their global presence, as the franchise leagues ecosystem is estimated to have a brand value of 1 billion dollars, extending their visibility in the year. Teams like Mumbai, Delhi, Chennai, Lucknow, Sunrisers Hyderabad and Rajasthan Royals are into various franchise T20 leagues. "IPL 2023 is paving the way for a global T20 business ecosystem as more and more franchise owners will be taking their brand of cricket to newer potential markets in the Middle East, USA, Asia-Pacific. Franchise owners are now seeing a year-long commitment from players for various leagues played globally," said Ajimon Francis, Managing Director, Brand Finance India.

Not a six, IPL hits a ten as it turns into a decacorn

<ul><li>Mumbai Indians retained the top spot in the franchise brand rankings for the fifth consecutive year, with a brand value of INR 761.0 crore, down 5.9% from last year.</li><li>Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) have seen their brand value erode by approximately 16.5% and 13.7%, respectively, compared to last year.</li></ul>Duff &amp; Phelps, A Kroll Business, today released key findings from its IPL Brand Valuation Report 2020, a study of brand values in the Indian Premier League (IPL). 2020 was a challenging year with economic distress and uncertainty due to the COVID-19 pandemic. The sports economy was not immune to this crisis, and the pandemic disrupted the sporting calendar for the year, with a string of tournaments being postponed or cancelled. The IPL also felt the heat of the pandemic, and the findings of the seventh edition of this annual IPL study suggest that the IPL ecosystem value has decreased by 3.6% in constant currency terms to INR 45,800 crore from INR 47,500 crore last year. The individual franchisees have also witnessed a reduction in their brand values over the last year, mainly due to reduced franchisee-related sponsorship revenue, loss of gate receipts, reduced food and beverage (F&amp;B) revenue and certain teams’ on-field performances. “Similar to the impact on other businesses and the overall economy, the pandemic led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership. The 2020 edition was a huge success for broadcasters as it broke viewership and advertising revenue records. Television ratings skyrocketed and advertisers tapped into this opportunity to scale up their brand image. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become,” said Santosh N, External Advisor, Duff &amp; Phelps India Pvt. Ltd. “With the economy opening and COVID-19 cases decreasing in India, we expect sponsorship deals to be back to their pre-COVID-19 levels. We have now entered a more stable phase in terms of the IPL ecosystem's value; the value appreciation is not expected at the rate of previous years. However, an increase in the number of teams in 2022 and the renewal of media rights in 2023 could enhance the IPL ecosystem value in the future,” Santosh added. Commenting on the future of the sports ecosystem in India, Varun Gupta, Managing Director and Asia Pacific Leader for Valuation Advisory Services at Duff &amp; Phelps, A Kroll Business said, “The IPL reflects the evolution of the modern cricket business, with clubs benefitting not only from the sport's enduring popularity in India but also from the game going global and from some great marketing initiatives. We believe that for growth trajectories to maintain their momentum, all teams need to continue broadening their footprint, forming relationships and generating revenue opportunities in growth markets.” In 2020, IPL season 13 has seen lower sponsorship revenues as compared to previous years (Dream11 paid INR 222 crores for the season, as against Vivo’s cancelled contract of INR 440 crores per season for the IPL title sponsorship). However, IPL’s impact on its sponsors/partners continues to be remarkable. Following the announcement of central sponsorships by the Board of Control for Cricket in India, the title sponsor Dream11 secured USD 225 million in funding, one of the official sponsors Unacademy joined the unicorn club with funding of USD 150 million, and another official sponsor CRED secured USD 80 million, bringing it closer to unicorn status.

The IPL ecosystem value has decreased by 3.6% to Rs 45,800 crore in 2020 from Rs 47,500 crore in 2019: Duff & Phelp

<ul><li><keyword id="163007" type="General" weightage="20" keywordseo="muthoot-finance" source="Orion">Muthoot Finance</keyword> is one of the largest <keyword id="130134" type="General" weightage="20" keywordseo="gold-loan" source="Orion">gold loan</keyword> NBFC in India and it has been using its <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> strategies effectively to make the brand a household name.</li><li><keyword id="9213956" type="General" weightage="20" keywordseo="abhinav-iyer" source="Orion">Abhinav Iyer</keyword>, GM, Marketing &amp; Strategy, Muthoot Finance tells us all the brand has been doing to not only grow its business but also to grow the category as a whole.</li></ul>It is no secret that Indians love gold. In fact, gold accounts for a large part of most Indian family’s wealth. While for years, securing loans against jewellery was looked at as a last resort, the last few years, especially the pandemic, has brought about an attitudinal shift in Indian consumers. Gold loans have been on a consistent rise over the last few years and this growth is coming from both micro enterprises and individuals. The pandemic hit many businesses and while things have been slowly moving towards normalcy, a lot of sectors still remain impacted, and people are still trying to find the balance. In such a scenario, gold loan has come up as both a convenient as well as a quick option to get cash. Over the years, there has been a shift in perception when it comes to taking a loan out on gold jewellery and one brand that has been trying to help the segment grow by trying to fasten this change is Muthoot Finance. Over the last few years, the brand has consistently stayed in the public consciousness with its marketing strategies. <keyword id="6357912" type="General" weightage="20" keywordseo="amitabh-bachchan" source="Orion">Amitabh Bachchan</keyword> has been a face of the brand for four years now. It has also been the Principal Team Partner for Chennai Super Kings, having turned it into a trusted, household name. <div type="Youtube" id="WZl9-VYIErY" title="Muthoot Finance - Haathi Pe Bharosa Karogey Toh Pakka Jeetogey - 2.5 Lakh Customers" thumbUrl="https://i.ytimg.com/vi/WZl9-VYIErY/mqdefault.jpg"></div> <div type="Youtube" id="ZpFUp9_P4X8" title="Muthoot Finance- Haathi Pe Bharosa Karogey Toh Pakka Jeetogey!" thumbUrl="https://i.ytimg.com/vi/ZpFUp9_P4X8/mqdefault.jpg"></div> We recently caught up with Abhinav Iyer, GM, Marketing &amp; Strategy, Muthoot Finance to understand how the pandemic impacted the company’s business and the role the brand has been playing in not only educating consumers about the sector but also helping the sector grow. Muthoot Finance’s growth story While the pandemic was not kind to many sectors and businesses, Muthoot Finance was able to sustain its growth, Iyer tells us. The consolidated AUM has grown by nearly 80% in the last three financial years from 2017-18 to 2020-21. Its consolidated net profit has grown by 114% during the same period. In other words, it has more than doubled during the said period. “We have grown considerably when it comes to our book size in the last few years. This year too, we are looking at growing our book size by 15%. We have made similar growth in terms of percentages when it comes to our profitability too. We serve over 2.5 lakh customers every day through our network of over 5000 branches. Contrary to common perception that we are a South-based brand, we are today a national brand, and grown consistently over the last decade,” shared Iyer. The brand has also been on an expansion mode. Over the last 2-3 years, it has added over 200 branches across the country. “If stock prices are a testament, we have made a healthy northward stride. From every stretch of imagination, we have grown, in terms of our physical branch presence, our customer base and our profitability over the last two, three years. And our marketing strategies have contributed considerably to this healthy and sustained growth,” added Iyer. Creating a winning marketing strategy It is often said that during times of crises, marketing budgets are usually the first to get slashed. We saw a lot of brands that stopped communicating with its consumers during the pandemic. However, Muthoot Finance is one brand that does not believe in this. In fact, it believes in staying in the public consciousness, staying constantly engaged. It has a half-yearly marketing strategy where it comes up with a high decibel campaign every six months, a strategy that has worked well for it. The brand recently launched its campaign ‘Hathi pe bharosa karoge toh pakka jeetoge’, featuring Amitabh Bachchan. The brand also recently launched the second season of its radio campaign called Muthoot Finance Sunheri Soch. At a time when more and more brands are steadily increasing their spends on Digital, while decreasing spends on traditional mediums, Muthoot Finance is one brand that has been consistently using mediums like Print, Radio and Outdoor. Speaking about its latest radio campaign, Iyer said, “Storytelling is the oldest form of teaching’ and we also believe that radio has always been seen as a credible and authentic medium of communication, hence we chose it as our primary medium of communication to reach out to our target audience and new customers. We also wanted to have a female voice this season and bring freshness to the table, hence this year we are extremely delighted to partner with <keyword id="6355846" type="General" weightage="20" keywordseo="madhuri-dixit" source="Orion">Madhuri Dixit</keyword> for Season 2. We have extensively researched and customized our series to be launched via radio alongside strong amplification across all prominent digital channels. We recorded a significant increase in our new customer acquisition and queries post the launch of Season 1. Thus, we did not hold back ourselves in investing again in radio and celebrating the art of <keyword id="282281" type="General" weightage="20" keywordseo="storytelling" source="Orion">storytelling</keyword>." On why the brand continues to invest on traditional mediums while also investing on newer mediums like Digital, Iyer added, “We are a national brand with around 5440 branches across India. More than 70% of our branches are in semi-urban and rural areas. We have served nearly 70 crore customer (including repeat customers) since our inception. So from all those parameters, we are a large, spread-out, national brand. So its important that some of these mass mediums are always there as part of our media mix. It would never be possible for us to do away with any of the mass mediums because the reach from mass media is critical for us. Meanwhile, digital is also a very important cog in the wheel. In the last three years, our digital and our IT teams have been working tirelessly to ensure the technological upgradation of our products and services. We launched our Gold Loan at home offering during the pandemic. That was a huge value-add from a technology perspective. There was a time you had to visit a branch to repay your loan interest. Today, you can do that using any digital payment platform, our chatbot or our WhatsApp business account. So today, it is not compulsory for people to visit the branch physically for availing loans or paying their interest. We are also investing substantially on digital marketing. Atleast 10% of our marketing budget is invested into digital marketing.” He also added that TV still makes for the largest chunk, between 40-45% of its marketing budgets. On what it got right when it comes to its marketing strategy, Iyer said it was a combination of a few things. “In the last few years, we have been on a marketing transformation journey. Firstly, partnering with Mr Bachchan has helped us cut across geographies, gender and age groups. Secondly, we partnered with Chennai Super Kings in 2018 when they were just coming back after a short break. <keyword id="6354832" type="General" weightage="20" keywordseo="ms-dhoni" source="Orion">MS Dhoni</keyword> is also someone who enjoys almost the same stature that Mr Bachchan does in Bollywood. He’s a trustworthy, dependable and balanced individual. So our partnership with CSK helped us in the Tamil Nadu market where we have about 900-950 branches. We have also been using transit medium very effectively and The Greater Kailash metro station and the Nandanam station in Chennai have our branding and it has completely transformed the stations. We also came up with a unique initiative during the Kumbh mela when we created huge gold lockers to help devotees keep their valuables at a safe place. This campaign helped us win numerous awards. Lastly, over the years, we have created a culture of launching half-yearly campaigns, new communications to bring about an attitudinal change in the minds of people. We try to be present throughout the years on all major ATL and BTL mediums. I believe these strategies have helped us grow as we are also trying to grow the category.” Owing to its presence in smaller towns and cities, the brand also focuses a lot on regional communications. The brand puts out its communications in 11 languages to ensure its reach is far and wide. Future areas of focus In what the scope for the segment is in the future, Iyer said, “Overall there are around 25,000 tonnes of gold (household jewellery) in the country and less than 5% of it is monetized. So there’s a huge potential for growth, both for us and the industry as a whole. So the focus would be on getting new customers to try and opt for gold loans. Its also a very simple product, you only pay interest for the number of days for which you have availed the loan. There is a whole lot of customer benefits which can help people benefit from the product. So our primary objective, even from a marketing perspective would be to grow the category significantly and help the category prosper by itself. We will also constantly keep working on bringing about an attitudinal change in people through our marketing and communications,” concluded Iyer.

Here’s how Muthoot Finance is bringing about a perception change around gold loans with its marketing initiatives

<ul><li>Smartphone maker Samsung is the title sponsor for the 2019 IPL finalist Mumbai Indians.</li><li>The franchise from India's financial capital has reached the final for the fifth time in 12 years.</li><li>The South Korean company renewed its contract with the team owned by Mukesh Ambani's RIL in February this year.</li></ul> Mumbai Indians and Chennai Super Kings will fight each other for the fourth time in 12 years for the coveted Indian Premier League (IPL) trophy and the winner's prize money of ₹20 crore ($3 million). No matter what the result of this fixture, smartphone maker Samsung is laughing away to the bank. The longer a team lasts in a tournament, more the visibility for the sponsors. Therefore, those associated with the top two teams get to extract maximum value. The Mumbai Indians' jersey sports the Samsung logo in the front and that of a television network Colors on the back. And there is <a href="https://www.business-standard.com/article/sports/ipl-2019-buzziest-on-social-media-tv-viewership-past-345-mn-in-14-days-119042400074_1.html" data-type="tilCustomLink" target="_blank">huge viewership at stake in the IPL</a>. In the first two weeks of this year's edition, 345 million people watched the matches on television and 267 million people watched matches on digital platforms in the first three weeks. In the battle for eyeballs, Samsung has already won a jackpot. The South Korean giant started backing Mumbai Indians in 2016 and since then, the team has won the tournament once and has a second shot at it today (May 12). In the twelve years of IPL's ever-increasing glitz, Mumbai Indians have ended up in the finals five times. Aside from winning the league final in 2013, 2015, and 2017, the team also won the 2011 and 2013 editions of the Champions League Twenty20. In 2018, a New York-based consulting firm, Duff and Phelps, report pegged the franchise as the <a href="https://www.duffandphelps.com/-/media/assets/pdfs/publications/valuation/ipl-brand-valuation-report-2018.ashx" data-type="tilCustomLink" target="_blank">most valued one, at $113 million</a>, in the $6.3 billion IPL ecosystem. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The company renewed its ‘lead sponsorship’ contract with the team, which is owned by Mukesh Ambani's Reliance Industries, for a period of three years in February 2019. This will involve a payment of ₹25 crore every year, a 10% increase from the 2016 contract, <a href="https://brandequity.economictimes.indiatimes.com/news/media/be-exclusive-samsung-clinches-sponsor-deal-for-mumbai-indians/68114969" data-type="tilCustomLink" target="_blank">according to The Economic Times</a>. "Samsung and Mumbai Indians have a lot of similarities as a brand. Both brands are consistent and are very visible," <a href="https://news.samsung.com/in/samsung-signs-up-as-the-principal-sponsor-for-mumbai-indians" data-type="tilCustomLink" target="_blank">said</a> Mr. Ranjivjit Singh, Chief Marketing Officer, Samsung India. Facing Mumbai Indians is another much-cherished franchise, Chennai Super Kings (CSK), led by Mahendra Singh Dhoni, one of the country's biggest sports icons of all time. The team has been in the finals eight out of the 10 times that it has played the tournament and won it thrice. CSK was banned from the IPL for 2016 and 2017 after a illegal betting and match fixing probe. However, head to head with Mumbai Indians, Chennai Super Kings has lost twice in the IPL finals. That gives Samsung an edge over The Muthoot Group, which is the title sponsor for CSK. Despite the controversies that have dogged CSK, the brand was in the top three after Mumbai Indians and Kolkata Knight Riders after the 2018 edition. 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/mi-vs-csk-ipl-final-2019-ms-dhoni-vs-rohit-sharma/articleshow/69288673.cms" data-type="tilCustomLink" target="_blank">MS Dhoni may be having one of his best IPL seasons but he has problem right on top</a>

Samsung bet on this team in the $6.3 billion Indian Premier League-- and it has paid off again

<ul><li>The <keyword id="6354831" type="UNKNOWN" weightage="20" keywordseo="indian-premier-league">Indian Premier League</keyword> (IPL) brand valuation increased by 13.5% this year to ₹475 billion, according to global advisory firm Duff &amp; Phelp. </li><li>There was a 20% increase in the ad spending on IPL this year. </li><li>Among the IPL franchises, <keyword id="13880" type="COMPANY" weightage="20" keywordseo="Mumbai-Indians">Mumbai Indians</keyword>, Chennai Super Kings(CSK) and Kolkata Knight Riders(KKR) topped the charts in terms of valuation at ₹8.09 billion, ₹7.32 billion and ₹6.3 billion, respectively. </li></ul>The value of cricket is rising, and that is evident with the rising brand value of Indian Premier League (IPL). This year, IPL’s brand value increased by 13.5% to ₹475 billion (₹47,500 crore), says <a href="https://www.thehindubusinessline.com/news/sports/ipl-brand-value-rises-7-to-68-billion-in-2019/article29458678.ece">Duff &amp; Phelps IPL Brand Valuation report 2019</a>. Last year however it rose even more at 18.87% growth to ₹418 billion (₹41,800 crore). A dip in sponsorships had led to the slower growth this year, the report says. In spite of this, this year IPL got over 100 team sponsorships from government and the industry. This is a good run even as the World Cup was held in the same year, which should have ideally eaten into the cricket pie. But, there was a 20% increase in the ad spending on IPL. "The advertisers could have taken a conservative stance and saved their budgets for the World Cup, but the high viewership interest in IPL continued to attract them," Varun Gupta, Managing Director, Asia Pacific Leader for Valuation Services <a href="https://www.moneycontrol.com/news/trends/sports-trends/ipl-brand-valuation-growth-slows-down-to-13-5-in-2019-4453891.html">told</a> Moneycontrol. Among the IPL franchises, Mumbai Indians, <keyword id="13886" type="COMPANY" weightage="20" keywordseo="Chennai-Super-Kings">Chennai Super Kings</keyword> (CSK) and Kolkata Knight Riders (KKR) topped the charts in terms of valuation at ₹8.09 billion (₹809 crore), ₹7.32 billion (₹732 crore) and ₹6.3 billion (₹629 crore), respectively. While Mumbai Indians and Chennai Super Kings recorded a growth of 8.5% and 13.1%, respectively, Kolkata Knight Riders (KKR) saw an 8% dip in the brand value. <keyword id="6354506" type="COMPANY" weightage="20" keywordseo="Royal-Challengers-Bangalore">Royal Challengers Bangalore</keyword> also lost some of its brand value which is now at ₹5.95 billion (₹595 crore). On the other hand, the brand value of <keyword id="3251768" type="PERSON" weightage="20" keywordseo="Delhi-Capitals">Delhi Capitals</keyword>, which is sixth on the list, grew by 8.9% — registering second highest growth this year. “For growth trajectories to maintain their momentum, all teams need to focus on their on-field performance while continuing to broaden their footprint, forge relationships and generate revenue opportunities in growth markets,” Gupta added. See also: <a href="https://www.businessinsider.in/icc-cricket-world-cup-2019-star-network-and-hotstar-viewership/articleshow/69719956.cms">ICC Cricket World Cup 2019 viewership so far on Hotstar is far from the IPL peak</a> <a href="https://www.businessinsider.in/hotstar-gains-from-ipl-final-and-game-of-thrones-second-last-episode/articleshow/69303484.cms">IPL final and Game of Thrones semi-final saw Hotstar break all records</a>

Mumbai Indians, Chennai Super Kings and Delhi Capitals pick up brand value as KKR and Royal Challengers fall

When the cricketer Dhoni is in distress, the brand Dhoni can’t escape the impact. Recently, Justice Lodha committee banned two teams–Rajasthan Royals and Chennai Super Kings (CSK), the Indian ODI skipper, MS Dhoni being a part of CSK was close to the team owner. 
 
But would this banning affect the image of Dhoni? 
 
Dhoni has retired from Test cricket and his latest performance as ODI captain was poor, as per a news report by The Economic Times. 
 
Yet, Dhoni endorses 18 brands, many of them major like Pepsi, Reebok, TVS, Boost and Star Sports. His reported endorsement fees, say industry observers, is between Rs 10 crore and Rs 12 crore per brand, higher than that commanded by India test captain Virat Kohli. 
 
Forbes had listed him as the world's fifth most valuable sportsperson brand in 2014 as the world's fifth most valuable sportsperson brand, valued at $ 20 million. And only last week, he was named as the world's ninth most marketable in a study by London School of Marketing, the ET report confirms. 
 
Corporate executives (CXOs) and experts ET spoke to said although the lack of marketeable cricketers means Dhoni's brand will retain some pull, endorsement rates can get lower when contracts are renewed. Rates may come down by as much as 25% to 30%. 
 
ET spoke to a dozen major brands endorsed by Dhoni. PepsiCo, Reebok and Glaxo SmithKline, the manufacturers of Boost, did not comment on the matter. Questions sent to Orient Electric, Ashok Leyland, Gulf Oil and Star Sports were not answered. But off record, some CXOs closely involved with marketing Dhoni for their companies were of the view that the once shining brand is starting to lose its sheen. 
 
The chief executive of a major brand Dhoni endorses said the cricketer is certainly losing his brand value. "He's not playing Tests and that impacts his valuation. 
 
The fact that he's closely associated with N Srinivasan is cause for discomfort as well," a CEO told a financial daily. "The lack of marketeable criketers means that our contract will continue", the top executive said, "but we will negotiate lower endorsement terms". 
 
"Dhoni's brand value will go down by 50% after this (the CSK team suspension). The fact that he's associated with India Cements is a huge setback. His continued silence hasn't helped either," Shailendra Singh, joint managing director of sports and media entertainment firm Percept told the ET. 
 
He added that Dhoni's cricket career has been on the decline. "The fact that he resigned from Test cricket in the middle of a series too hasn't gone down well with brands he's associated with," he said. 
 
(Image: Business Insider)

Dhoni’s brand value may go down almost 50%!

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> opened on a flat note against the <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords">US</keyword> <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Friday, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas markets. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said rupee was seen resilient against the dollar, due to consumer price index data and US <keyword id="19904332" type="General" weightage="20" keywordseo="Federal-Reserve" source="keywords">Federal Reserve</keyword>'s policy decision. Market participants will keenly watch India's trade balance data due later in the day as any decrease in the deficits would bring a breather for the rupee. At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.54 against the American currency and touched 83.52 in the initial trade. On Thursday, the rupee settled for the day lower by 6 paise at 83.54 against the US dollar. "The rupee remains steady, due to the Reserve Bank of India's active management and ever-growing forex reserves," CR Forex Advisors MD Amit Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.29, higher by 0.09 per cent. Brent crude futures, the global oil benchmark, fell 0.44 per cent to USD 82.39 per barrel. "The Indian rupee remained range-bound on Thursday and is expected in a similar narrow range today also as foreign portfolio investors buy dollars and the Reserve Bank of India (RBI) sells them," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. On the domestic equity market, the 30-share BSE Sensex was trading 213.02 points, or 0.28 per cent lower at 76,597.88 points. The broader NSE Nifty was down 48.05 points, or 0.21 per cent, to 23,350.85 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 3,033.00 crore, according to exchange data. Meanwhile, Moody's Ratings on Thursday said India will remain the Asia-Pacific region's fastest-growing economy in 2024, sustaining last year's domestically-driven momentum. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/bmw-r-1300-gs-superbike-launched-in-india-at-20-95-lakh/slidelist/110971512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bmw-r-1300-gs-superbike-launched-in-india-at-20-95-lakh/slidelist/110971512.cms" target="_blank">BMW R 1300 GS superbike launched in India at ₹20.95 lakh</a><a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-will-reportedly-get-a-100-price-bump/articleshow/110959434.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-will-reportedly-get-a-100-price-bump/articleshow/110959434.cms" target="_blank">Samsung Galaxy Z Fold 6 will reportedly get a $100 price bump</a>

Rupee opens on flat note against US dollar in early trade

Despite unfavourable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword> grew by 9.59 per cent compared to the previous year in May 2024, the Confederation of <keyword id="22064995" type="General" weightage="20" keywordseo="Indian-textile" source="keywords">Indian Textile</keyword> Industry (CITI) said in a report. Simultaneously, <keyword id="22064997" type="General" weightage="20" keywordseo="Indian-apparel-exports" source="keywords">Indian apparel exports</keyword> saw a growth of 9.84 per cent during the same period. The CITI in its report highlighted that the cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70 per cent over May last year. The country's overall exports for May 2024 surged to USD 68.29 billion. This was a substantial year-on-year increase of 10.2 per cent, according to data released by the Commerce Ministry on June 14. The analysis noted that during Apr -May' 24, Indian textile exports registered a growth of 6.04 per cent over the previous year, while apparel exports registered a growth of 4.46 per cent during the same time period. The cumulative exports of textiles and apparel during April-May 2024 saw a surge of 5.34 per cent as compared to the same period last year. The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics &amp; linoleum, cotton yarn/fabs made-ups ( textiles manufactured), handloom products, etc., man-made yarn/fabs./made-ups, handloom products etc. performed well in the exports from the country. Other merchandise products, such as meat, dairy and poultry products, mica, coal and other ores, minerals including processed minerals, RMG of all textiles, tea, coffee, rice, tobacco, carpet and handicrafts, oil seeds; and fruits and vegetables, did well too. On Friday, AshwKumar, President of the Federation of Indian Export Organisations (FIEO), highlighted that a positive trajectory was seen in May 2024, driven by robust order bookings. Among the top ten export markets for India were the US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and France. Considerably, in these markets, the exports registered a double-digit growth rate. Breaking down export data released yesterday, the merchandise exports witnessed a 9.1 per cent rise to USD 38.13 billion, while service exports climbed by 11.7 per cent, reaching USD 30.16 billion. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a><a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a>

Indian textile exports surge by 9.59% in May despite global economic challenges

<ul><li>The owners of <keyword id="6034" type="General" weightage="20" keywordseo="manchester-united" source="Orion">Manchester United</keyword>, one of the leading football clubs, have shown interest in picking up an <keyword id="85672" type="General" weightage="20" keywordseo="ipl-franchise" source="Orion">IPL franchise</keyword>.</li><li>Given that India is a cricket crazy nation, it might make sense for businesses to pick up an <keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword> franchise, but it does seem strange for the owners of a <keyword id="95431" type="General" weightage="20" keywordseo="football-club" source="Orion">football club</keyword> to do so.</li><li>Business Insider decodes why it might not be strange after all for ManU owners, the Glazer brothers, to pick up an IPL franchise.</li></ul>Manchester United fans in India have one more thing to be excited about after getting back Cristiano Ronaldo this year – the club’s owners are getting excited about the world’s biggest <keyword id="360282" type="General" weightage="20" keywordseo="cricket-league" source="Orion">cricket league</keyword>, the Indian Premier League (IPL). According to a report by <a href="https://timesofindia.indiatimes.com/sports/cricket/ipl/top-stories/manchester-united-owners-show-interest-in-ipl-franchise/articleshow/87175010.cms">The Times of India</a>, Manchester United owners, Avram Glazer and Joel Glazer, have picked up the invitation-to-tender (ITT) document for bidding for a new IPL franchise. The Board of Control for Cricket in India (BCCI) floated tenders to invite bids for two new IPL teams. Another report also suggests that BCCI extended the deadline for picking up the tender documents for the Glazer family, which could imply that the ManU (Manchester United) owners are serious about getting one of the two new IPL teams. But why would the owners of a highly popular football club even want to bid for an IPL team in the first place? There could be multiple reasons. For starters, even though Manchester United is financially one of the biggest clubs in the English Premier League (EPL), with a revenue of ₹5,107 crore in 2021, it has reported losses in three out of the past four years. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Profit/loss </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-£37.63 million (approx. -₹389 crore) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2019 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">£18.88 million (approx. ₹195 crore) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-£23.23 million (approx. -₹240 crore) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2021 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-£92.22 million (approx. -₹952 crore) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company reports That is a cumulative loss of nearly £134 million (approx. ₹1,400 crore) in the last four years. In comparison, <keyword id="13886" type="General" weightage="20" keywordseo="chennai-super-kings" source="Orion">Chennai Super Kings</keyword> (CSK) and <keyword id="13880" type="General" weightage="20" keywordseo="mumbai-indians" source="Orion">Mumbai Indians</keyword> (MI), two of the most profitable franchises in the IPL, have reported profits in three out of the past four years. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CSK </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Indians </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2017-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹0.5 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹2 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2018-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹111 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹91 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2019-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹50 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹57 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹40 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹29 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company reports In the unlisted market, CSK is <a href="https://www.business-standard.com/article/sports/chennai-super-kings-looks-set-to-become-india-s-first-sports-unicorn-121101700935_1.html">said</a> to have a valuation of anywhere between ₹3,300 to ₹4,200 crore (approx. $0.4-0.6 billion) – which means it is halfway through the unicorn status. Unicorn is a term used to refer to firms with a valuation of $1 billion or more. ManU, on the other hand, is <a href="https://www.forbes.com/sites/mikeozanian/2021/05/07/worlds-most-valuable-sports-teams-2021/">said</a> to be valued at $4.2 billion in 2021. With new IPL franchises <a href="https://timesofindia.indiatimes.com/sports/cricket/ipl/top-stories/ipl-2022-bcci-expects-rs-5000-crore-windfall-as-base-price-for-new-teams-kept-at-rs-2000-crore/articleshow/85788319.cms">expected</a> to cost between ₹2,000-3,500 crore, this would allow the Glazer brothers to scoop up what could be a value purchase. <cmsannotation type="cmsannotation" annotationid="Challenge for Glazers – money making in the EPL is different from the IPL" comment="subhead" text="Challenge for Glazers – money making in the EPL is different from the IPL">Challenge for Glazers – money making in the EPL is different from the IPL</cmsannotation> If ManU owners indeed buy an IPL franchise, they will have to change the way they think about money making. For instance, while merchandise revenue accounts for nearly 19% of the club’s total revenue, it doesn’t even register as a separate item in CSK’s financial reports. On the flip side, employee benefit expenses – the money that franchises pay to their players and staff, is slightly on the lower side for IPL franchises, when compared to ManU. While employee benefit expenses accounted for 60% of ManU’s operating expenses, it stood at 54% for CSK. With the kind of craze that cricket and IPL have in India, and the profitability of CSK and MI, this could prove to be a no-brainer even for a family that is invested in football. According to <a href="https://economictimes.indiatimes.com/news/sports/big-growth-ipl-2021-viewership-count-hits-380-million-mark/the-biggest-t20-league-in-the-world/slideshow/86674520.cms">BCCI</a>, IPL’s television viewership stood at 380 million after the first 35 matches, with 21 more league matches left and the knockout matches and finals yet to be accounted for. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a> <a href="https://www.businessinsider.in/personal-finance/news/indias-mutual-fund-industry-gets-its-hands-on-blockbuster-ipos-like-paras-defence-and-others-for-1500-crore-in-september/articleshow/87182408.cms">India’s mutual fund industry gets its hands on blockbuster IPOs like Paras Defence and others for ₹1500 crore in September</a> <a href="https://www.businessinsider.in/tech/news/twitter-launches-live-scorecard-for-cricket-announces-first-community-in-india-for-cricket-fans/articleshow/87180597.cms">Twitter launches live scorecard for cricket, announces first community in India for cricket fans</a>

You Searched For "csk market value" and got 9 results

Not a six, IPL hits a ten as it turns into a decacorn

IANS

The IPL ecosystem value has decreased by 3.6% to Rs 45,800 crore in 2020 from Rs 47,500 crore in 2019: Duff & Phelp

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Here’s how Muthoot Finance is bringing about a perception change around gold loans with its marketing initiatives

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Samsung bet on this team in the $6.3 billion Indian Premier League-- and it has paid off again

Sriram Iyer

Mumbai Indians, Chennai Super Kings and Delhi Capitals pick up brand value as KKR and Royal Challengers fall

Prerna Sindwani

Dhoni’s brand value may go down almost 50%!

BI India Bureau

Rupee opens on flat note against US dollar in early trade

PTI

Indian textile exports surge by 9.59% in May despite global economic challenges

ANI

Manchester United owners are getting drawn to the world's biggest cricket league – here's why

Rounak Jain

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