Reviews

Review of 1 stock recommended in the past

NAZARA TECHNOLOGIES LTD
Ticker : 543280
FV:  ₹4 
52-Week H/L: ₹927.25/481.95

We recommended Nazara Technologies Ltd at Rs 859.20 per share in Vol. 40, Issue 09 (December 14, 2023). Nazara Technologies, is a prominent Indian gaming and sports media platform, operating globally. The company provides diverse offerings in interactive gaming, eSports, and gamified early learning ecosystems. In the consolidated financial results for Q2FY24, the company reported sales of Rs 297.24 crore, reflecting a robust 12.7 per cent increase as compared to Q2FY23, while operating profit showed healthy growth, rising by 5.3 per cent to Rs 38.98 crore. Similarly, the net profit saw a 53.3 per cent increase, reaching Rs 24.18 crore. Anticipating robust growth in Q3, especially in eSports, the company expects popular game comebacks to drive momentum in IPs and media rights. With a cash reserve exceeding Rs 1,300 crore, the company plans strategic use for organic growth and M&As, aiming for higher revenue and improved margins in Q3 and Q4 compared to H1FY24. Hence, we recommend HOLD.