Overview

• Between June 2 and 10, Rekha Jhunjhunwala sold 29.75 lakh Nazara shares at an average of Rs 1,264 apiece, raising about Rs 376 crore and cutting her holding to 3.66%.
• Nazara’s stock has climbed over 25% year-to-date and trades near its 52-week high with a market cap of roughly Rs 11,161 crore, although Prabhudas Lilladher has downgraded the stock to a hold rating with a Rs 1,241 target.
• The company has expanded its gaming and esports footprint through acquisitions of Smaaash Entertainment and UK-based Curve Games to broaden its portfolio and publishing capabilities.
• Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol secured CCI approval for an open offer to acquire 26% of Nazara at Rs 990 per share, involving about 2.4 crore shares.
• Institutional investors continue to back Nazara, with mutual funds holding 9.59% of equity and SBI Mutual Fund accounting for 8.37% of the total stake.