Shares of Nazara Technologies Ltd currently trading at Rs 569.95 gained 1.35 % on Monday’s trading session from the previous close price of Rs 560. In the past month, the stock has jumped around 7.17 percent ranging from Rs 524.75 to the current price levels.
On May 12, French-based investment company Societe General bought a 0.89% stake in Nazara Technologies for about Rs 33.83 crore in a bulk deal for 5.93 lakh shares. The transaction was completed at a weighted average price of Rs 570.
As of the March quarter, the Ace investor Rakesh Jhunjhunwala family owned around 9.96% of the firm. Manish Agarwal also owns around 1.43% of the gaming firm. And As of May 10, 2023. YES, Securities recommended a target price of Rs 598 or 5 percent upward on Nazara Technologies.
Nazara Technologies is the leading India-based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, and offerings across interactive gaming, eSports, and gamified early learning ecosystems.
Having a quick walkthrough of the financials reported by the company, the operating revenues slightly increased from Rs 5 crores in Q3 to Rs 6 crores in Q4. Similarly, The net profits of the company, during the same period, transitioned from Rs 2 crores to a loss of Rs 12 crores.
Having a YoY comparison of the metrics, the revenues slightly improved from Rs 20 crores during FY 21-22 to Rs 23 crores in FY 22-23. Within the timeframe specified, the PAT numbers have adjusted downward from a loss of Rs 33 crores to a loss of Rs 24 crores.
According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 19.05 percent stake, and Foreign Institutional Investors (FIIs) hold an 8.58 percent stake in the company for FY 22-23.
Written by Omkar C
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
