Rakesh Jhunjhunwala’s Portfolio: Rocket Becomes Nazara Tech Stock, Jumps 13% Today, Jefferies Opinion – Buy Now
Big Bull Rakesh Jhunjhunwala owns a 10.03% stake in Nazara Tech.
Nazara Tech’s stock continues to rally after its impressive first quarter results.
This tech stock has jumped almost 40% in five trading sessions.
New Delhi. Nazara Tech., part of Big Bull Rakesh Jhunjhunwala’s (Rakesh Jhunjhunwala Portfolio) stock, surged on Tuesday, August 2. At the start of trading, this technology stock rose by 13% to reach Rs 727. This stock gained around 40% in 5 trading sessions. The global brokerage firm Jefferies also claims that this stock will bring good returns to investors in the near future.
The Jefferies rating indicates that in the first quarter of fiscal 2023, Nazara achieved 70% year-over-year growth. The reason is esports and acquisitions. Growth prospects in esports are still strong. In Kiddopia too, the price increase should be beneficial. According to the shareholding scheme of Nazara Tech in June 2022, Rakesh Jhunjhunwala owns 10.03% of the share capital of Nazara Tech.
Jefferies gave a buy rating
According to a report from Live Mint, Jefferies raised its rating on Nazara Tech shares to BUY. Its target price was given at Rs 780. Jefferies wrote in its note, “Esports has achieved an impressive revenue growth of 77% on an annual basis. NodeWin’s revenue also grew 68% year-over-year. Similarly, sports-keeda’s revenue has also increased by 103% on an annual basis. sports-keeda’s revenues have more than doubled.
still fast today
Shares of Nazara Tech also continued to rise on Tuesday. Shares of Najara opened with a boom today and after some time they rose significantly and they reached Rs 727 with a jump of 13%. The stock has gained 39.15% over the past five trading sessions. The title jumped 10.49% in one month. However, if we talk about the last six months, Nazara Tech’s stock has only lost to investors during this period and it has fallen by 35%. So far in 2022, that stock is down about 41%. Likewise, this stock has fallen by 24% in one year.