Nazara Technologies jumps on partnering with four Indian game studios
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Nazara Technologies is currently trading at Rs. 866.50, up by 23.05 points or 2.73% from its previous closing of Rs. 843.45 on the BSE.
The scrip opened at Rs. 855.70 and has touched a high and low of Rs. 892.95 and Rs. 839.90 respectively. So far 52231 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 927.25 on 06-Sep-2023 and a 52 week low of Rs. 481.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 919.20 and Rs. 830.70 respectively. The current market cap of the company is Rs. 6349.25 crore.
The promoters holding in the company stood at 19.01%, while Institutions and Non-Institutions held 20.07% and 60.92% respectively.
Nazara Technologies has unveiled partnerships with four distinguished Indian game studios. This initiative is part of Nazara's new publishing division, focusing on promoting the ‘Make in India’ vision in the gaming sector. The eclectic mix of games selected for publication includes 'Gravity Shooter' by Smash Head Studios, a thrilling 2D action game; 'World Cricket League' from Wandermind Labs, offering a 3D multiplayer cricket experience; 'Hacked: Password Puzzle' by Pixcell Play, a challenging puzzle game; and ATG Studios' 'Laser Tanks' and 'Paperly', both promising unique gaming experiences across varied genres.
Along with financial investment, Nazara Publishing offers comprehensive support, including mentorship, user acquisition, and live operations expertise. Since its inception a month ago, the division has received a remarkable response from both Indian and international game developers. Nazara's publishing division is dedicated to nurturing close collaborations with game developers from India and globally, seizing the immense potential of the Indian gaming market. With substantial funds allocated for publishing, Nazara aims to publish 20 games within the next 12 to 18 months, investing between Rs 1 crore to Rs 3 crore per game.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
