Nazara Technologies share jump 6% as ICICI Prudential MF increases stake

  • ICICI Prudential Mutual Fund has picked up additional 819,648 equity shares in the company.

Livemint
Published21 Apr 2023, 07:24 PM IST
Nazara Tech IPO was oversubscribed 175 times.
Nazara Tech IPO was oversubscribed 175 times.(AFP)

The shares of Gaming and sports media company Nazara Technologies jumped by over 6 per cent on Friday after ICICI Prudential Mutual Fund picked up additional stake in the company.

The shares of Nazara Technologies closed 6.05 per cent higher at 564.20 on BSE. 

ICICI Prudential Mutual Fund has picked up additional 819,648 equity shares in the company.

ICICI Prudential has raised its stake in Nazara Technologies from 2,403,461 equity shares, i.e., 3.65 per cent to 3,223,109 or 4.87 per cent according to the shareholding pattern on BSE.

The public shareholding in the company to 80.95 per cent while the promoter shareholding to 19.05 per cent, according to BSE data.

The stock has declined by 27.31 per cent in the last 12 months and by 15.57 per cent in 6 months. In 2023, the stock has corrected by 8.76 per cent.

Recently, Nazara Technologies Ltd’s has announced its subsidiary Nodwin International Pte. Ltd has signed signed definitive agreements for the acquisition of 51 per cent of the share capital of Branded Pte. Ltd and subsidiary Sportskeeda has completed the acquisition of 73.27 per cent stake in Pro Football Network Inc.

Nazara Technologies announced a net profit of 22.4 crore for the December quarter as against 17.1 crore in the year-ago quarter, driven by higher other income.

Revenue from operations rose by 69 percent year-on-year to 314.8 crore from 185.8 crore in the year-ago period. The company's revenue in the September quarter was 263.8 crore and profit stood at 17.4 crore.

Other income was higher at 11.5 crore in the December quarter as against 4 crore a year ago.

The company’s EBITDA stood at 30.6 crore in the December quarter as against 30.3 crore in the year-ago quarter.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess

News in Numbers

Numbers that help you understand news better
₹68,885 Cr

3.15L

48%

₹6.7 T

$240.5 M

$459 M

$3 B

₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

10%

20 Yrs

First Published:21 Apr 2023, 07:24 PM IST
HomeMarketsStock MarketsNazara Technologies share jump 6% as ICICI Prudential MF increases stake

Most Active Stocks

Tata Steel

157.75
03:43 PM | 19 JUL 2024
-8.6 (-5.17%)

Tata Power

414.15
03:59 PM | 19 JUL 2024
-15.85 (-3.69%)

Bharat Electronics

306.30
03:45 PM | 19 JUL 2024
-7.2 (-2.3%)

Zee Entertainment Enterprises

137.55
03:57 PM | 19 JUL 2024
-4.9 (-3.44%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Tata Teleservices Maharashtra

102.11
03:59 PM | 19 JUL 2024
4.68 (4.8%)

Rail Vikas Nigam

614.00
03:59 PM | 19 JUL 2024
27.65 (4.72%)

Jubilant Pharmova

752.25
03:43 PM | 19 JUL 2024
25.3 (3.48%)

One 97 Communications

458.70
03:55 PM | 19 JUL 2024
13.65 (3.07%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,217.00292.00
    Chennai
    75,657.001,099.00
    Delhi
    74,485.00-659.00
    Kolkata
    74,485.00-73.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanBudget