Nazara Shares Jump 3% To Reach 52-Week High

Shares of listed gaming major Nazara Technologies jumped 3.3% to reach its 52-week high of INR 1,307.55 apiece during the intraday trading session on the BSE today.

The stock closed 2.3% higher at 1,295.10 per share for the day, compared to its previous close of INR 1,265.90 apiece on Monday.

The market capitalisation stood at INR 11,361.64 Cr ($1.33 Bn), during the day.

The company’s shares ended its 11th straight session in green. The stock’s leap so far, has marked its best day since January 21, 2022.

This comes at a time when the gaming giant has been on an acquisition spree of multiple smaller gaming startups. 

Earlier today, Nazara received board’s approval to acquire 100% stake in London-based Curve Digital Entertainment Ltd (Curve Games) for £21.7 Mn (around INR 248 Cr).

Earlier this month, it received approval from the National Company Law Tribunal (NCLT) for its resolution to buy insolvency-ridden sports entertainment startup Smaaash Entertainment. It also said that its subsidiary Absolute Sports was set to acquire two of Titan Insider Digital IPs — TJRWrestling.net and ITRWrestling.com in an all cash deal.

Since the start of this year, the company also bought an additional 8.97% stake in Absolute Sports Private Limited, making the parent company of Sportskeeda its wholly-owned subsidiary. Besides, it acquired a majority stake in Mumbai-based Funky Monkeys Play Centers Private Limited for INR 43.7 Cr (around $5.01 Mn).

Nazara’s shares have gained 24.7%, year-to-date.

On the financial front, Nazara Technologies’ consolidated net profit declined 53.5% to INR 13.7 Cr in the third quarter of the financial year 2024-25 from INR 29.5 Cr in the year-ago quarter.

Meanwhile, its operating revenue zoomed 66.8% to INR 534.7 Cr during the quarter under review from INR 320.4 Cr in Q3 FY24.

To note, the company is set to report its Q4 FY25 earnings on May 26.