Nazara Technologies is in the news. Its share price had broken up to 12 per cent in intraday yesterday. The Rakesh Jhunjhunwala-invested company has entered into an agreement to buy a stake in a gaming company named Arrakis Tanitim Organizasyon Pazarlama San Tic Ltd Sti (Publishme). Publishme is the largest mobile game publishing company in Turkey and the Middle East. Nazara Technology will invest Rs 20 crore to acquire 69.82 per cent stake in Publishme. The deal will be completed through primary and secondary transactions through a subsidiary of the company.
Experts say that with this acquisition, the company will be able to further strengthen its penetration in the MENA region. The company will benefit from the reach of Publishme in this region. With this acquisition, Nazara’s international footprint in the freemium segment will further increase.
on this stock Sandeep Matta of TRADEIT Investment Advisors told The Mint that Nazara Technologies is a leading mobile gaming company. Which sells all types of gaming products in the enging market. The fundamentals of the gaming sector look very strong. Due to the availability of cheap smartphones, the expanding network of high-speed internet and falling data prices, the gaming industry in countries like India can see a growth of more than 30 percent on a yearly basis.
Tradeite Investment Sandeep Say that one should invest in this stock through SIP for a target of Rs 1800 -1950 with a stop loss of Rs 1350 for a period of 6-9 months.
there, Ravi Singhal of GCL Securities It is said that this stock is seen in overbought condition. Now we should wait for profit booking in this counter. If you get around Rs 1400, invest in this stock from a long term perspective.
Online gaming platform Nazara was listed on the exchange on March 30. The stock was listed at 1,990 level with a premium of 80.7 per cent against its issue price of Rs 1,101. Its IPO was subscribed 175.46 times through which Rs 583 crore was raised.
Let us tell you that veteran investor Rakesh Jhunjhunwala has 10.82 percent holding in Nazara Technologies while Arpit Khandelwal’s holding in the company is 11.32 percent.
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