Nazara Technologies Shares Surge 18% Following Stake Acquisition by Nikhil Kamath
Nazara Technologies shares soar 18% amid reports of Nikhil Kamath upping stake in block deal
The Economic Times
Image: The Economic Times
Shares of Nazara Technologies increased by 18% to ₹314 after a block deal involving 4.9% of the company's equity. Nikhil Kamath, co-founder of Zerodha, and Axana Estates are reportedly among the buyers, while founder Nitish Mittersain is the seller. Despite a revenue drop, the company's net profit surged significantly due to reduced expenses.
- 01Nazara Technologies reported a revenue of ₹398 crore for Q4FY26, a 23% decline year-on-year.
- 02Net profit soared to ₹56 crore, up from ₹4 crore in the previous year, indicating strong profitability despite revenue challenges.
- 03The gaming segment contributed the most to revenue, increasing by 78% to ₹278 crore.
- 04Nazara plans to acquire a 50% stake in Bluetile Games and BestPlay Systems for $100.3 million (approximately ₹918 crore).
- 05The company is actively investing in artificial intelligence to enhance its business capabilities.
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Shares of Nazara Technologies, India's only listed gaming company, soared by 18% to reach a day’s high of ₹314 on the Bombay Stock Exchange (BSE) following a significant block deal involving 4.9% of its equity. Reports indicate that Nikhil Kamath, co-founder of Zerodha, and Axana Estates were among the buyers, while company founder Nitish Mittersain was the seller. In its latest financial results for Q4FY26, Nazara reported a revenue of ₹398 crore, down 23% from the previous year, but its net profit surged to ₹56 crore, a dramatic increase from ₹4 crore a year earlier, thanks to a 29% reduction in total expenses. The gaming segment emerged as the largest revenue contributor, with a 78% increase to ₹278 crore. Nazara is also pursuing growth through acquisitions, including a 50% stake in Spain-based Bluetile Games for $100.3 million (around ₹918 crore), and is focusing on artificial intelligence to enhance its business operations.
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The surge in Nazara's shares may boost investor confidence and attract more investments in the gaming sector, which could lead to job creation and economic growth in the industry.
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