Rakesh Jhunjhunwala’s Portfolio: Rocket Becomes Nazara Tech Stock, Jumps 13% Today, Jefferies Opinion – Buy Now


Strong points

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 stock Rakesh Jhunjhunwala (Rakesh Jhunjhunwala Portfolio), surged on Tuesday, August 2. At the start of trading, this tech 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 as of June 2022, Rakesh Jhunjhunwala owns 10.03% of the share capital of Nazara Tech.

Also Read – Sensex-Nifty Slipped Due to Profit Selling and Booking, Where is the Biggest Drop Seen Today

Jefferies gave a buy rating
According to a report from Live Mint, Jefferies has raised its rating on Nazara Tech shares to BUY. Its target price was set 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 also increased by 103% on an annual basis. sports-keeda’s revenues more than doubled.

Also Read – Stock of Fertilizer Company Giving Good Returns, Today at All-Time High with Higher Circuit

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 past 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 24% in one year.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you wish to invest in any of them, please consult a licensed investment adviser first. News18 is not responsible for the profits or losses you may cause. It will happen. )

Keywords: economic news, Rakesh Jhunjhunwala, Sotck exchange, stock market advice


About Author

Comments are closed.