Nazara Technologies lists at 81% premium; Investors can book profit
Published On: Tuesday, March 30, 2021 | By: Team KnowMyStock
Nazara Technologies made a stellar debut on the bourses today(30th March 2021) as the shares of the firms listed at Rs 1,990, an 81 percent over its issue price of Rs 1,101 on the National Stock Exchange (NSE). Meanwhile, on the BSE, the stock debuted at Rs 1,979, 79 percent above its issue price. Post-listing, it moved higher to 2,026.90, up 84 percent. At 10:02 am, Nazara Technologies was trading 74 percent higher against its issue price at Rs 1,917.75, after hitting a low of Rs 1,869.05 on the BSE. A combined around 1.4 million equity shares changed hands on the counter on the NSE and BSE so far. Nazara Technologies is an Indian gaming and sports media platform with a presence in India, North America, Africa, and the Middle East. The company derives revenues mainly from subscription fees paid by users for accessing gamified early learning content, as well as, from the eSports business.
These two segments cumulatively accounted for 71 per cent and around 42 per cent of operating revenues for April-September 2020 (H1FY21) and FY20, respectively.
Analysts believe that given Nazara Technologies' stock has surged nearly 100 per cent over the issue price, investors can partially book profit and can add more at a later stage once the stock corrects.
"Given the market situation, on the back of such stellar listing gains, investors can look to partially take some profit off the table. If an investor has an appetite to hold for a year or two, then they should definitely hold the stock," experts opinied.
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