Another stock was listed in the market today. The stock of NAZARA TECH was listed on the BSE today at a price of Rs. 1971 with a 79% premium. At the same time, Nazara tech’s share on the NAC was listed at 1990 rupees.
A lot of Nazara Technologie was available for subscription for Rs 14,313. Its price rose to Rs 26,349.7 on the day of listing, ie, a gain of Rs 12,036.7 on 1 lot. Even at the day’s low level today, its 1 lot was getting an advantage of Rs 6,357. Let me tell you that the lowest level of this stock till date is 1590 rupees.
The share price of Rakesh Jhunjhunwala-invested mobile gaming company Nazara Technologies saw an upside of 84% in intraday on the day of listing on March 30. But despite the strength in the market, the stock has slipped nearly 22 per cent by the afternoon.
What is the investment strategy now
Experts say that those who invest in this stock from a long-term perspective should remain. But if someone has invested in this IPO for short term or for listing gain, then one can make a profit in it. Jyoti Rai of Angel Broking said that since online gaming and learning is growing very fast in the country. Keeping this in mind, it is likely that the company will see spectacular growth ahead. Long-term investors should stay in this stock. They will get good benefits ahead.
He further said that the investors who missed the IPO and want to invest in this stock from the perspective of long term and medium term, they are advised to invest at the 1651-1751 level.
Aastha Jain of Hem Securities recommends making partial profit on the day of listing and holding the remaining shares for a longer period. Jain believes that the company’s business model is very successful and strong. The company also has a strong presence in the domestic and foreign markets. The company is the leader of its sector. Which will be further benefited.
Company Profile
The IPO of Rakesh Jhunjhunwala-invested online gaming company Darshu Tech (Nazara Tech) opened on March 17 and closed on March 19. The price band of Nazara Tech was fixed at Rs 1100-1101. The company has raised Rs 583 crore from this IPO.
Rakesh Jhunjhunwala has not sold his stake in the company through Offer For sale. Due to this, the sentiment of investors was also high. The IPO was subscribed 175 times. The company raised Rs 262 crore from Anchor Investors at a price of 1101 per share. Rakesh Jhunjhunwala had an 11.51 per cent stake in Nazara Tech as of September 2020 quarter. The company has a reach in Africa and North America besides India.
Najara Technologies is known for games like World Cricket Championships, Chhota Bheem, Mota Patlu series. Its subsidiary company Nodwin Gaming organizes various gaming events across the country. The company does business in more than 60 countries like India, Africa, Middle East, South East.
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