Software company Nazara Technologies Ltd. is a small-cap company with a market valuation of $3,383 Cr. With operations in India as well as other international areas like Africa and North America, Nazara Technologies is a leading provider of extensive gaming and sports media. It provides services in the interactive gaming, eSports, ad-tech, and other gaming ecosystems.
Share price history of Nazara Technologies
The closing price of Nazara Technologies’ shares on the NSE on Friday was $514.00 per share, up 0.73% from the previous close of $510.30. Compared to the 20-Day average volume of 288,241 shares, the stock experienced an average daily volume of 3,91,054 shares. The stock has lost more than 35.62% over the last five years and more than 48% over the past three. It fell 35.62% the year before, and thus far in 2023, it has fallen 16.25%.
The Nazara Technologies IPO operated from March 17, 2021 to March 19, 2021, with an issue price range of 1100 to 1101 per share, and the company was listed on the exchanges on March 30, 2021. The stock touched a 52-week-high of ₹897.50 on (23-Mar-2022) and a 52-week-low of ₹475.05 on (22-Jun-2022), indicating that at the current market price, the stock is trading 42.72% below the 1 year high and 8.19% above the 1 year low.
The stock made an all-time high of ₹1,678.00 on 4th October 2021 and touched an all-time low of ₹475.05 on 13th March 2023, indicating that at the current market price, the stock is trading 69.36% below its all-time high level.
According to the December 2022 shareholding pattern available on the exchanges, Rekha Jhunjhunwala holds approximately a 10% stake in Nazara Technologies or 65,88,620 equity shares in the gaming firm. According to Trendlyne, she publicly holds 29 stocks with a net worth of more than ₹25,680.4 crore as of March 23, 2023.
Buy Nazara Technologies?
Nazara Technologies saw a huge spike in profits recently, but valuations remain a concern. The stock is finally looking to bounce from its all time lows, but has not yet triggered a buy on the charts. Near term resistance is at 537 and the stock is oversold on the weekly charts. The buy level is still far away as the stock is significantly lower than its long term moving averages. 460 to 480 remains a good support zone.
A R Ramachandran, Co-founder & Trainer-Tips2trades said “Extremely low debt to equity ratio, a turnaround to profitability with consistency in profit growth over the past few quarters coupled with the lowest PE ratio since the IPO makes Nazara Technologies an attractive buy for long term investors at current levels. A steady improvement in operating margins in the coming financial year could further boost sentiment in this stock. Technically, investors should start buying this stock on a Daily close above 525. Targets can be 598 & 635 in the coming weeks.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of sharebaz. We advise investors to check with certified experts before taking any investment decisions.