Rakesh Jhunjhunwala Stocks: Shares of Nazara Technologies hit all-time low,

Rakesh Jhunjhunwala Stocks: The Rakesh Jhunjhunwala-backed gaming and tech stock hit an all-time low of Rs 1113.3 on Wednesday after continuing its seventh consecutive fall. Shares of Nazara Technologies fell nearly 10 percent on the BSE amid weak market sentiment.

Over the last seven sessions, the counter has declined about 26 per cent on the BSE and is trading near the issue price of Rs 1,100 per share. The stock entered the market in March 2021 with a premium of more than 80 per cent, which was listed on the exchange at around Rs 1990 per share.

The scrip has been corrected by about 68 per cent since the 52-week high on October 11, 2021, and the S&P BSE Sensex is trading at Rs 1191.8, up 6.5 per cent on the BSE, compared to a 0.29 per cent fall. About 02:50 PM

Billionaire investor Rakesh Jhunjhunwala, also known as the Big Bull of the Indian stock market, has 3,294,310 equity shares, which translates into a 10.1 per cent stake in Nazara Tech according to the company’s latest BSE shareholding pattern.

The company’s board will meet on Friday, May 13, 2022 to consider the quarterly and year-over-year financial results audited for March 2022. The board will also consider proposing to issue bonus shares.

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

The company has a number of recognized IPs, such as the World Cricket Championship, Kidopia in gamified early education, Nodwin and Sportskida, and others in sports media.

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