Nazara Technologies Records a Sharp Rise in the Shares

The Indian stock market has seen a boom on the last trading day of the week. At the same time, a huge jump in shares was seen in the shares of gaming company Nazara Technologies. Shares of Nazara Technologies rose nearly 20% to Rs 623 on Friday. 

Veteran investor Rakesh Jhunjhunwala also holds shares of Nazara Technologies. Jhunjhunwala has a major stake in Nazara Technologies. This rally in the shares of the company has come on the ex-date of the bonus issue. 

Shares of Nazara Technologies have seen a fall of 74% so far this year. Nazara Technologies is also offering bonus shares in the ratio of 1:1. That is, the company will give 1 bonus share on every share to the investors. The company has fixed June 24 as the ex-date of the bonus issue. 

Whereas, the record date of the Bonus Share Issue has been fixed on 27th June 2022. Consolidated Profit of Digital Gaming and Sports Platform increased by about 17% to Rs 4.9 crore in the March 2022 quarter. 

The company's profit in the same period a year ago was Rs 4.2 crore. The company's revenue from operations in the January-March 2022 quarter grew by nearly 42% to Rs 175 crore. Whereas, in the same period a year ago, the company's revenue was Rs 123 crore.