Nazara Technologies tanked 12 per cent to Rs 1,463.75
Published On: Friday, June 18, 2021 | By: Team KnowMyStock
Shares of Nazara Technologies tanked 12 percent to Rs 1,463.75 on the BSE in intra-day trade today(18th June 2021), amid heavy volumes, after the foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation. The stock was trading close to its 52-week low level of Rs 1,412.50 hit on April 12, 2021. It had hit a high of Rs 2,026.90 on its stock market debut day, March 30, 2021. Nazara Technologies is an Indian gaming and sports media platform with a presence in India, North America, Africa, and the Middle East. Its product portfolio includes offerings across interactive gaming, eSports, and gamified early learning ecosystems like World Cricket Championship & Carrom Clash in mobile games, Kiddopia in gamified early learning, Nodwin & Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy, and trivia games.
Nazara Technologies had made a stellar debut on the bourses on March 30 as the shares of the firm listed at Rs 1,990, an 81 per cent over its issue price of Rs 1,101 on the National Stock Exchange (NSE). Post-listing, it moved higher to 2,026.90, up 84 per cent. Rakesh Jhunjhunwala held a 10.82 per cent stake in Nazara Technologies as on March 31, 2021, the shareholding pattern data shows.
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