Nazara Technologies Shares Plummet 11.19% for Second Consecutive Session
Shares of Nazara Technologies Ltd extended their decline for the second straight session on Thursday. The stock price dropped 11.19% to Rs 1,085, marking a 22.58% fall in two trading days.
Company Clarification on Online Gaming Bill
The digital entertainment company recently addressed media reports on the proposed Promotion and Regulation of Online Gaming Bill, 2025. Nazara stated it doesn’t expect significant adverse effects on its financial performance.
The company highlighted its minimal exposure to real money gaming (RMG), with no direct contribution to revenue or EBITDA. Its indirect exposure comes from a 46.07% stake in Moonshine Technologies Pvt Ltd (PokerBaazi).
Corporate Actions Approved
The company’s Board approved certain corporate actions, subject to shareholder approval. These include:
- Raising authorized share capital from Rs 50 crore to Rs 80 crore
- Stock split: subdividing each equity share of Rs 4 face value into two shares of Rs 2 each
- 1:1 bonus issue: granting one Rs 2 bonus share for every Rs 2 share held
Technical Analysis and Expert Recommendations
Support for Nazara Tech lies in the Rs 989–1,080 range, while resistance is between Rs 1,184 and Rs 1,200. Analysts recommend caution, suggesting fresh entries above Rs 1,184.
Experts note the stock’s near-term sentiment is weak. Some analysts suggest:
- Waiting for stability before taking fresh positions (Osho Krishan, Senior Analyst at Angel One)
- Buying only if the stock closes above Rs 1,184, targeting Rs 1,362 (AR Ramachandran)
- Short-term trading range: Rs 1,080–1,300 (Jigar S Patel, Senior Manager at Anand Rathi)
