Buy Nazara Technologies, Says Prabhudas Lilladher

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Buy Nazara Technologies, Says Prabhudas Lilladher

By Aditya Raghunath

Investing.com -- Rakesh Jhunjhunwala-backed Nazara Technologies Ltd (NS: NAZA ) made its debut on the stock markets in April this year. The stock closed September 6 at Rs 1,816.8.

That’s an upside of over 65% from its issue price of Rs 1,101. Impressive, right? Not really. The stock listed at Rs 1,990, a premium of over 80% on day one. The stock has moved in a range since its listing.

Brokerage firm Prabhudas Lilladher has initiated coverage on the stock and has a ‘buy’ call on it with a target of Rs 2,342, an upside of almost 29% from the September 3 closing price.

The firm said, “… is a unique play on rising gaming culture, given Gen Z & millennials constitute ~65% of India’s population demographics 2) has an early mover advantage in evolving Esports category (organized 82% unique Esports events with 73% share in total prize pool as of 2019),that is likely to disrupt traditional sports landscape in next 4-5 years and 3) offers a direct play on emerging Ed-Tech market via Kiddopia.”

It added, “We expect revenue/EBITDA CAGR of 36%/49% over FY21-24E as key categories viz; Kiddopia, Esports and Freemium offer huge scalability in the long term. Recent acquisition of OpenPlay acts as an additional growth kicker.”

 

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  • Abacus Elear @Abacus Elear
    In every markets there are 2 types of people. The one's having the 'Tajurba' (experience) and the one's having the 'Paisa' (money). Once the Bull market is over those with the Tajurba end up getting the Paisa, and those with Paisa end up getting the Tajurba.
    Like 12
  • Maddula Bhanu @Maddula Bhanu
    stupid words 🤦
    Like 2
    • Ravi Kumar @Ravi Kumar
      उउन्नति
      Like 0
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