Rakesh Jhunjhunwala portfolio company Nazara Technologies is in news for acquiring majority stake in Arrakis Tanitim Organizasyon Pazarlama San.Tic. Ltd. Sti. (PublishMe), the largest mobile game publishing agency in the Middle East and Turkey. This Rakesh Jhunjhunwala-backed company will invest an approximate amount of ₹20 Cr for acquiring 69.82 per cent stake by way of primary and secondary transaction through its subsidiary. This development and some other fundamentals already favouring Nazara Technologies shares have caught attention of stock market experts and they have recommended buy on this Rakesh Jhunjhunwala share holding company stock.
Speaking on the fundamentals of this Rakesh Jhunjhunwala portfolio stock Sandeep Matta, Founder at TRADEIT Investment Advisors said, “Nazara Technologies is a leading mobile gaming company offering a range of diversified gaming products across the interactive gaming, eSports and gamified early learning ecosystem in emerging markets. Fundamentals of the gaming sector are robust as industry is expected to grow with CAGR (cumulative annual growth rate) of over 30 per cent in India on account of proliferation of cheap smartphones, high-speed internet and reduction in data prices.”
On his suggestion to the stock market investors Sandep Matta of TRADEIT Investment Advisors said, “The company is trading expensive with low promoter’s holding and operating at low ROE, we recommend buy on SIP mode in the counter for the target of ₹1800 to ₹1950 in 6 to 9 month time-frame with stop loss of ₹1350.”
For those who want to invest one time lumpsum amount Ravi Singhal, Vice Chairman at GCL Securities said, “This Rakesh Jhunjhunwala stock is in overbought condition and one should wait for the profit-booking in the counter. My advice to the investors is to buy around ₹1400 for long-term.”
Rakesh Jhunjhunwala share holding in Nazara Technologies
As per the January to March 2021 quarter Nazara Technologies shareholding pattern, Rakesh Jhunjhunwala holds around 10.8 per cent shares of the company and he has investments in the company much before it got listed at the Indian bourses. So, the ‘Warren Buffett of India’ has strong conviction about the company much before it became a listed company.