The Indian gaming industry is witnessing a significant surge, thanks to the widespread accessibility of smartphones and high-speed internet. The rise of eSports and online gaming has further fueled this growth, transforming India into a potential global gaming hub.

According to research published by Mordor Intelligence, India’s gaming market is projected to grow from ₹24,770 crore in 2023 to ₹51,312 crore by 2028, at a CAGR of 15.68%. This growth is driven by the increasing use of smartphones, high-speed internet, and the rise of technologies like VR, AR, and the metaverse. The government’s support for online gaming and the affordable mobile data costs in India are also contributing to the industry’s expansion.

Now, let’s dive into the top 5 gaming stocks in India to watch in 2023:

Nazara Technologies Ltd

Nazara Technologies is a leading diversified gaming and sports media platform. It offers interactive gaming, gamified early learning ecosystems, and eSports. Its intellectual property includes CarromClash, Sportskeeda, Nodwin, and Kiddopia.

With a market capitalisation of over ₹4,695 crore, Nazara stands as one of the largest gaming stocks listed on the Indian stock exchanges. Demonstrating a robust performance, the shares of the company have witnessed an impressive surge of 42% in the past year. Rekha Jhunjhunwala is also invested in the stock and owns a 9.96% stake in the company.

See also: Top 5 Bollywood Stocks To Watch In 2023

Zensar Technologies Limited

Zensar Technologies is a subsidiary of the RPG group. It provides end-to-end services in IT development, business process outsourcing, consulting, and implementation. It has a specialised Game Testing Centre of Excellence to help gaming companies leverage speed and efficiency.

With a market capitalisation of over ₹9,224 crore, shares of the global software services company have gone up over 56.56%. Ace investor Ashish Dhawan is also an investor in the company and owns around 1.06% shares of the company.

Tata Consultancy Services Limited

A more popular name in India’s vibrant IT space, Tata Consultancy Services is an Indian multinational company providing IT services and consulting. Some of its gaming-focused services include mobile apps, virtual reality games, game development, cloud solutions, automation, and AI.

With a market capitalisation of over ₹11.92 lakh crore, Tata Consultancy Services Limited is the largest IT company in India. Over the past five years, shares of the company have seen a significant rise, going up close to 80%.

Infosys Limited

Infosys Limited is another major Indian MNC that makes it to the list. The IT giant provides information technology, outsourcing services, and business consulting in general and has experienced developers who have worked in AR/VR and 3D games.

With a market capitalisation of over ₹5.38 lakh crore, Infosys Limited ranks high in the list of the country’s top IT stocks. Over the past five years, shares of the company have seen a substantial rise, going up by 108%.

Tech Mahindra Limited

Tech Mahindra Limited is a part of the Mahindra Group and is a leading provider of consulting, digital transformation, and business reengineering services and solutions. It entered the gaming business in 2015 and built gaming technologies and platforms with a focus on PC and mobile games.

With a market capitalisation of over ₹1.09 lakh crore, Tech Mahindra Limited is among the fastest-growing IT stocks listed on the Indian stock exchanges over the past year. Year to date, shares of the company’s share price have gone up by close to 11%.

Read next: Why Analyst Sees This Rekha Jhunjhunwala Owned Gaming Stock Going Up 20%

Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.

Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.