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Nazara shares rose 7%, subsidiary shopping increased investors’ enthusiasm

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Nazara Share Price: Gaming sector giant Nazara Tech (Nazara Tech) shares jumped more than 7 percent today. This purchase in its shares is due to the purchase of a subsidiary. The company has given information about this purchase in its exchange filing. According to exchange filing, Nazara Tech’s subsidiary has purchased 100 per cent stake in a game marketing agency. Due to this the buying of shares increased. Currently, it is priced at Rs 868.40 on BSE with an increase of 5.46 percent. It had reached Rs 879.15 intra-day.

Which game marketing agency got the ownership rights?

Nazara Tech’s Singapore subsidiary NODWIN Gaming has purchased game marketing agency PublishME. This deal was done for about 2 million dollars and NODWIN has bought it from Nazara Tech and Ozgur Ozalp. Akshat Rathi, co-founder and MD of Nodwin Gaming, says that this purchase will open up a lot of opportunities as a leading gaming and esports media company.

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How is Nazara stock in terms of returns?

Nazara’s shares have made huge profits for the investors. This year, on March 20, 2023, it was at a one-year low of Rs 481.95. After this, purchasing increased and in just six months it jumped by more than 92 percent and reached Rs 927.25 last month on 6 September 2023. This is a 52-week record high for its shares. However, this rise in shares stopped here and at present it is more than 6 percent downside from this level. This year it has strengthened by more than 41 percent. Nazara shares were entered in the domestic stock market on March 30, 2021. Rekha Jhunjhunwala has 9.96 percent stake in it. Rekha holds 65,88,620 shares.

This post originally appeared on hindi.moneycontrol.com

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