Shares of Nazara Technologies saw a notable surge of 3.7% during early trading on Tuesday, December 3, 2024, reaching an intraday high of ₹1,047.85 on the BSE. This rise comes on the back of the company's board approving five strategic investments amounting to ₹195 crore.
Around 10:48 AM, Nazara's share price settled at ₹1,036, reflecting a 2.53% gain, outperforming the BSE Sensex, which was up 0.58%. The company's market capitalisation now stands at ₹7,894.5 crore, with a 52-week range of ₹590.85 to ₹1,124.15.
Strategic investments approved
Nazara Technologies announced its plans to bolster its gaming and entertainment portfolio with five new investments:
Nazara acquired a majority stake in Funky Monkeys Play Centers Private Limited, an indoor play centre chain for children, for ₹43.7 crore. Funky Monkeys operates 11 interactive centres across India in cities like Mumbai, Bengaluru, and Chennai, providing enriching play experiences for kids.
The company is also venturing into edtech with a ₹4.2 crore investment in Learntube.ai, acquiring a 4.7% stake. Learntube.ai is a gamified, AI-powered educational platform that enhances learning with 1:1 interactivity. The platform is supported by major investors, including Google’s AI Accelerator.
Nazara plans to invest ₹148 crore in existing subsidiaries such as Sportskeeda, Nodwin Gaming, and Datawrkz. These funds will enhance its ownership in these subsidiaries and fuel its growth initiatives.
Nazara’s leadership in gaming and esports
Nazara Technologies stands out as India’s only listed gaming and esports company, boasting significant global reach. With brands like Nodwin Gaming in esports and Sportskeeda in sports media, the company has cemented its place in the gaming and entertainment ecosystem.
In interactive gaming, Nazara offers products such as the World Cricket Championship (WCC) franchise and Kiddopia, alongside casual games distributed through telco partnerships in emerging markets.
Performance and future outlook
Over the past year, Nazara's shares have appreciated by 27.2%, significantly outperforming the Sensex's 16.5% gain. As equity markets globally remain robust, investors are increasingly looking to buy shares online in innovative and growth-focused companies like Nazara.
Nazara’s latest investments underscore its commitment to expanding its footprint in the gaming, esports, and interactive learning sectors. With its strategic acquisitions and funding for subsidiaries, the company is well-positioned for sustained growth.
Why invest in Nazara Technologies?
For those looking to buy shares online, Nazara Technologies offers a compelling opportunity due to:
With a dynamic portfolio and ambitious growth plans, Nazara Technologies continues to attract attention as a frontrunner in India’s gaming ecosystem.
For android only