Highlights
Big Bull Rakesh Jhunjhunwala holds 10.03% stake in Nazara Tech.
Nazara Tech’s stock continues to rally after its impressive first quarter results.
This tech stock has jumped nearly 40 per cent in five trading sessions.
New Delhi. Nazara Tech. Share, which is included in Big Bull Rakesh Jhunjhunwala’s portfolio (Rakesh Jhunjhunwala Portfolio), has seen a stormy rise on Tuesday, 2 August. At the beginning of trading, this tech stock rose by 13 percent to reach Rs 727. This stock has gained about 40 percent in 5 trading sessions. Global brokerage firm Jefferies also now says that this stock will give good earnings to investors in the near future.
Jefferies’ note said that in the first quarter of FY 2023, Nazara has achieved 70 percent year-on-year growth. The reason for this is e-sports and acquisitions. Growth outlook in e-sports is still strong. In Kiddopia too, the price increase should be beneficial. According to the shareholding pattern of Nazara Tech as of June 2022, Rakesh Jhunjhunwala holds 10.03% stake in Nazara Tech.
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Jefferies gave buy rating
According to a report in Live Mint, Jefferies has upgraded its rating on the shares of Nazara Tech to BUY. Its target price has been given at Rs 780. Jefferies wrote in its note, “E-sports has achieved impressive revenue growth of 77 percent on an annual basis. NodeWin’s revenue has also grown by 68 per cent year-on-year. Similarly, the revenue of sports-keeda has also increased by 103% on a yearly basis. The revenue of sports-keeda has more than doubled.”
still fast today
Shares of Nazara Tech continued to rise on Tuesday as well. Shares of Najara opened with a boom today and after some time there was a tremendous rise in them and it reached Rs 727 with a jump of 13 percent. The stock has gained 39.15 per cent in the last five trading sessions. The stock has jumped 10.49 per cent in one month. However, if we talk about the last six months, the stock of Nazara Tech has only given loss to investors in this period and it has fallen 35 percent. So far in the year 2022, this stock has fallen about 41 percent. Similarly, this stock has fallen by 24 per cent in one year.
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Tags: business news, Rakesh Jhunjhunwala, stock market, Stock tips
FIRST PUBLISHED : August 02, 2022, 12:41 IST
