Nazara Technologies

Nazara Tech jumps over 3% on buying majority stake in Pro Football Network

Brokerage firm ICICI Securities has a 'Buy' rating on the stock with a target price of Rs 700 per share.

Stocks to Watch: Reliance, HAL, Hero MotoCorp, Nazara Tech, L&T, Power Grid

Stocks to Watch: Hero MotoCorp on Wednesday said it will increase prices of its model range by around 2 per cent from next month

SVB fallout: Nazara Tech says Rs 60 cr shifted to other bank accounts

Nazara Technologies on Wednesday said that out of Rs 64 crore held by its two step-down subsidiaries in Silicon Valley Bank, Rs 60 crore has been successfully transferred to bank accounts outside of SVB. The balance of Rs 4 crore remains in SVB accounts for unrestricted operational use, the company said in a regulatory filing. Nazara informed that both the companies -- Kiddopia Inc and Mediawrkz Inc -- have been given unrestricted access to the entire amount of USD 7.75 million (Rs 64 crore) that was held at SVB. "From this amount, a sum of USD 7.25 million (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5 million (Rs 4 crore) remains in SVB accounts for unrestricted operational use," the company said. The abrupt failure of SVB last week had left many startups, tech companies, entrepreneurs and VC funds nervous and jittery about their deposits. SVB was deeply entrenched in the tech startup ecosystem and the default bank for many .

SVB fall: Nazara Tech says Rs 60 cr successfully shifted to other accounts

Nazara Technologies on Wednesday said that out of Rs 64 crore held by its two step down subsidiaries in Silicon Valley Bank, Rs 60 crore has been successfully transferred to bank accounts outside of SVB. The balance Rs 4 crore remains in SVB accounts for unrestricted operational use, the company said in a regulatory filing. Nazara informed that both the companies -- Kiddopia Inc and Mediawrkz Inc -- have been given unrestricted access to the entire amount of USD 7.75 million (Rs 64 crore) that was held at SVB. "From this amount, a sum of USD 7.25 million (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5 million (Rs 4 crore) remains in SVB accounts for unrestricted operational use," the company said.

SVB fallout: Present imperfect, future tense for Indian start-ups

Though many of them expect limited near-term impact, lack of SVB-like support system may pinch them later

SVB fallout: US admin's statement positive outcome, says Nazara Tech CEO

Nazara Tech, whose two step-down subsidiaries have Rs 64 crore deposits in Silicon Valley Bank, on Monday said the US administration's statements on protecting depositors for the entire amount is a "positive outcome" and gives confidence about the recovery of money. The two subsidiaries have working capital to meet their requirements, including payroll, Nitish Mittersain, Founder and CEO of Nazara Technologies said as he categorically ruled out the possibility of layoffs within the company as a result of the Silicon Valley Bank crisis. In fact, the current environment yields "many opportunities", and Nazara Tech intends to double down on its efforts to look for "good companies to acquire and invest" given the attractive valuations. "The statement by Yellen (Treasury Secretary Janet L. Yellen) saying all depositors will be protected for the entire amount, is a very positive outcome and makes us more confident that we will recover all of this money," Mittersain told PTI. On Friday, t

Nazara Tech's 2 subsidiaries hold Rs 64 cr in SVB; stock hits record low

The balances held at SVB by Kiddopia Inc. and Mediawrkz Inc cumulatively account for $7.75 million.

Tamil Nadu govt approves ordinance to ban online games; Nazara Tech dips 4%

On getting the Tamil Nadu governor's approval, the ordinance would be promulgated in the state, news agency ANI reported

Mehul Kothari recommends Buy on JM Financial, Nazara Tech; Check Why

According to the technical analyst from Anand Rathi, JM Financial can rally to Rs 78, while Nazara Technologies can gain up to Rs 830.

Nazara Tech acquires US-based WildWorks for Rs 82 cr in all-cash deal

Gaming and sports media firm Nazara Technologies has acquired US-based WildWorks for USD 10.4 million (about Rs 82 crore) in an all-cash deal, the company said on Tuesday. Nazara Technologies founder and managing director Nitish Mittersain said that the company has acquired WildWorks to strengthen its gaming learning vertical where it has already been running the early learning platform Kiddopia for kids aged between 2-7 years. "This acquisition brings Apple Jam IP of WildWorks which is a gamified learning platform for children in the age of 8-12 years. It is an adjacent segment for our learning vertical. We have acquired WildWorks for USD 10.4 million and we can now help them in scaling up their operations," Mittersain said. He said that WildWorks has a team of 30 people that will continue to operate independently. Nazara acquired Kiddopia around three years ago. "When we acquired Kiddopia it had revenue of around Rs 30 crore. In three years we have scaled it up to Rs 200 crore.

Rakesh Jhunjhunwala-owned stocks trade mixed. Should you buy, sell, hold?

The decision to stay with these stocks, analysts said, should be based purely on how each of these companies is performing fundamentally

These Rakesh Jhujhunwala-owned stocks can rally up to 20%, charts suggest

Titan and Escorts look promising on the charts, while Star Health and Allied Insurance, Nazara Technologies and Rallis India need to conquer major hurdles for further gains, technical charts suggest.

Nazara Technologies soars 16% after strong June quarter results

The mobile gaming company reported over 22 per cent year-on-year (YoY) growth in consolidated net profit to Rs 16.5 crore in April-June quarter (Q1FY23)

Is the time ripe for consolidation among new-age technology companies?

A rise in cost of capital has already weighed on the related stocks all across the globe over the past few months

Stiff regulations, high taxes: Govt controls electronic sports joystick

India is a fast-growing high-potential gaming market, but per capita spends still very low

This Rakesh Jhunjhunwala stock turns ex-date for 1:1 bonus issue; soars 19%

However, in the past six months, the stock has tanked 46 per cent as against an 8 per cent fall in the S&P BSE Sensex.

Nazara Tech's net profit up 17% to Rs 4.9 cr in Q4, revenue increases 42%

Digital gaming and sports platform Nazara Technologies on Friday posted an about 17 per cent increase in consolidated profit to Rs 4.9 crore for the quarter ended March 2022.

This Rakesh Jhunjhunwala owned stock has tanked 65% from its 52-week high

In the past one month, the market price of Nazara Technologies has tanked 29 per cent, as compared to a 8 per cent decline in the S&P BSE Sensex.

Market does not appreciate ambivalence: Nazara CEO Manish Agarwal

In a Q&A, he dwells on his company's journey the past one year, the gaming market in India and the company's future plans

Nazara Technologies invests $2.5 mn in US-based Bitkraft Ventures

The announcement comes at the back of its recent partnership with Griffin Gaming Partners, in which Nazara has committed to invest $4 million.