Nazara Technologies Ltd is a Small-Cap company having a market capitalization of 3,383 Cr who works in the software sector. Nazara Technologies is a leading India-based comprehensive gaming and sports media platform, with a presence in India as well as global markets such as Africa and North America, and provides services across the interactive gaming, eSports, ed-tech and other gaming ecosystems . , Recently, Sportskeeda, a subsidiary of Nazara, announced the acquisition of Pro Football Network, the #3 NFL publisher in the US and the transaction includes the acquisition of a 73.3% stake INR 16 crore through primary infusion of capital and secondary stock purchase. In addition, Sportskeeda Inc. has the right to acquire an additional 10% and 8% stock of Pro Football Network LLC in CY24 and CY25, respectively.
Nazara Technologies share price history
Nazara Technologies shares closed on NSE on Friday 514.00 each level, up 0.73% from previous close 510.30. The stock recorded an average total volume of 3,91,054 shares as compared to 20-day average volume of 288,241 shares. In the last five years, the stock is down 35.62%, and in the last three years, it is down more than 48%. It is down 35.62% in the last year, and it is down 16.25% in 2023 to date.
Nazara Technologies IPO to be conducted from March 17, 2021 to March 19, 2021 with issue price range since 1100 1101 per share, and the company was listed on the exchanges on March 30, 2021. Stock touched 52-week high at 897.50 (23-Mar-2022) and 52-week low 475.05 on (22-Jun-2022), indicating that at current market price, the stock is trading 42.72% down from 1-year high and 8.19% above 1-year low.
Shares made an all-time high 1,678.00 on 4 October 2021 and touched an all-time low 475.05 on March 13, 2023, indicating that at the current market price, the stock is trading down 69.36% from its all-time high.
As per the shareholding pattern as of December 2022 available on the exchanges, Rekha Jhunjhunwala holds around 10% stake in Nazara Technologies or 65,88,620 equity shares in the gaming firm. According to Trendline, she publicly holds 29 stocks with a net worth of Rs. 25,680.4 crore by March 23, 2023.
Buy Nazara Technologies?
Commenting on the future outlook of Nazara Technologies, Rahul Ghosh, Founder & CEO – HEDGED, an algorithm-driven advisory platform, said, “Nazara Technologies recently witnessed a massive growth of over 200% in its profits, but valuations Still remains a concern. As the stock is trading at a price to book value of 3. The stock finally seems to have bounced off its all-time lows, but it is yet to start buying on the charts The near term resistance for the stock lies at 537 and one should initiate buying once a bullish close is seen above this level. The stock is oversold on the weekly chart as well and a bounce will ensure that it continues to hold its 10 day and 20 closes above the day’s EMA, which paves the way for a short term bounce. For the longer term, buying levels are still a long way off as the stock trades well below the long term moving averages of the 100 and 200 SMA and it Buying will start only when we see a bullish candle close on the weekly chart above the 655. level. Downside 460 to 480 is a good support zone for this stock.
AR Ramachandran, Co-Founder & Trainer – Tips2trades said, “Extremely low debt to equity ratio, turnaround in profitability with stability in profit growth over the last few quarters coupled with lowest PE ratio since IPO What makes Nazara Technologies an attractive buy for long term investor at current levels. Continued improvement in operating margin in the coming financial year can further boost sentiment in this stock. Technically, investors should buy this stock at 525 Should start buying on a daily close above 598 and 635 in the coming weeks.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of o2help. We advise investors to do due diligence with certified experts before making any investment decision.Know your inner investor
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