Rekha Jhunjhunwala, Nikhil Kamath-Backed Small Cap Stock Jumps 4% After Major Announcement

Shares of Nazara Tech that were trading flat on Wednesday bumped up sharply in the afternoon as the announcement was made.

What Happened: The gaming major has unveiled partnerships with four Indian game studios. As part of the partnership, the company will publish five innovative games from different studios.

The games selected for publishing include ‘Gravity Shooter’ by Smash Head Studios, ‘World Cricket League’ from Wandermind Labs, ‘Hacked: Password Puzzle’ by Pixcell Play, and ATG Studios’ ‘Laser Tanks’ and ‘Paperly’.

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Having allocated significant funds towards publishing, Nazara plans to publish 20 games in the next 12 to 18 months, investing between ₹1 Crore to ₹3 crore per game. Along with financial investment, Nazara Publishing offers comprehensive support, including mentorship, user acquisition, and live operations expertise

Earlier this month, ICICI Securities maintained its "buy" call on the stock, underlining the company’s strong financial position. With a cash balance exceeding ₹800 crore, Nazara is well-positioned to leverage opportunities in the real money gaming (RMG) space, particularly when many platforms are grappling with funding constraints, the brokerage had said in its note. The company is backed by Nikhil Kamath and Rekha Jhunjhunwala.

Price Action: Nazara Tech’s share price was up 4.24% to trade at ₹912.35 on Wednesday afternoon.

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Posted In: EquitiesGamingMarketsMoversTrading IdeasGeneralNazara TechNikhil KamathRekha Jhunjhunwala