Rakesh Jhunjhunwala Stocks: This Rakesh Jhunjhunwala-backed gaming and tech stock hit a new all-time low of Rs 1113.3 apiece on Wednesday, after continuing its seventh straight fall. Nazara Technologies shares declined almost 10 per cent on the BSE at close amid a weak market sentiment. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

In the last seven sessions, the counter has dropped by almost 26 per cent on the BSE and is trading near its issue price of Rs 1100 per share. The stock made its market debut in March 2021 with a whooping premium of over 80 per cent, to list at around Rs 1990 per share on the exchanges. 

The scrip has been corrected almost 68 per cent from its 52-week high touched on October 11, 2021 and is trading over 6.5 per cent to Rs 1191.8 per share on the BSE as compared to a 0.29 per cent fall in the S&P BSE Sensex at around 02:50 PM. 

Billionaire investor Rakesh Jhunjhunwala, who is also called the Big Bull of the Indian stock market, holds 3,294,310 equity shares, which translates into a 10.1 per cent stake in Nazara Tech, as per the latest BSE shareholding pattern of the company.  

The company’s board is scheduled to meet on Friday, May 13, 2022, to consider audited financial results for the quarter and year ended March 2022. The board will also consider a proposal for the issuance of bonus shares. 

India-based diversified gaming and sports media platform – Nazara Tech has a presence in India as well as in emerging and developed global markets such as Africa and North America. It offers across the interactive gaming, Esports, and gamified early learning ecosystems. 

The company has a few of the most recognizable IPs such as World Cricket Championship, Kiddopia in gamified early learning, NODWIN and Sportskeeda in Esports and Esports media among others.