The brokerage firm has expressed hope of 18 percent rise in Nazara Tech shares. Brokerage says that this stock can go up to Rs 1080. Nazara Tech shares have gained 13 per cent in the last one month.
New Delhi. The Indian stock market is witnessing a tremendous boom this year. In the last six months, the BSEC Sensex has risen by 12 percent. Many market experts including Ramdev Agarwal of Motilal Oswal Financial Services say that the momentum of the stock market is not going to stop now. If you are also looking for a profitable stock, then you can bet on the shares of gaming company Nazara-Technologies. Brokerage firm ICICI Securities is bullish on this stock. The brokerage has advised investors to invest in this stock and said that in the coming time this stock can give them a profit of up to 18 percent.
Nazara Technologies is a leading diversified gaming and sports media platform with a presence in emerging and developed global markets such as Africa and North America, apart from India. In the last trading session i.e. last Friday, the company’s shares closed at Rs 919.05 on BSE with a gain of 0.95 per cent. The 52-week high of the stock is Rs 989.55 and the 52-week low is Rs 590.85. In the last one month, the shares of Nazara Technologies have gained 13 per cent. In the last 6 months, the stock has given a return of 7 per cent. In the last one year, its investors have got a return of 27 per cent.
Also read- This share will go up to Rs 100, currently the price is Rs 36, 1 share will have 10 pieces
Share can go up to Rs 1080
Brokerage firm ICICI Securities has expressed hope of a rise in the shares of Nazara Tech. The brokerage has given a ‘buy’ rating to the stock in its research report dated July 5, 2024. The brokerage says that this stock can go up to Rs 1080 in the coming time. According to this, a rally of about 18 percent can be seen in the shares of the company.
The brokerage said in its report, “On July 3, 2024, we hosted the management of Nodwin for a dialogue with investors. Nodwin has increased its stake in Freaks4U Gaming from 13.51% to 57%. They plan to eventually acquire 100% of the company through a share swap deal.”
How were the quarterly results of Nazara Tech
Nazara Technologies reported a net profit of Rs 0.18 crore in the fourth quarter of FY24, down sharply from Rs 9.4 crore in the same quarter last year. This is due to a loss of Rs 16.87 crore from discontinued operations during the main quarter. Net profit from continuing operations in the quarter stood at Rs 17.1 crore, up 43.6 per cent from a profit of Rs 11.9 crore in Q4-FY23. The company’s revenue during the fourth quarter stood at Rs 266.2 crore, down 8 per cent from Rs 289.3 crore in the same quarter last year.
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Tag: Business News, Share Market, Stock Tips
first published : July 8, 2024, 07:45 IST
