Last Updated:
Nazara Tech has plunged 18.25% in just 3 trading sessions as investors reacted nervously to the Centre’s proposed online gaming regulations
Nazara Tech Share Price
Nazara Technologies has plunged 18.25% in just three trading sessions, slipping to Rs 1,145.55 on the BSE, as investors reacted nervously to the Centre’s proposed online gaming regulations. The sharp correction has left the street debating whether more downside is likely, or if the slump offers a long-term entry point.
The selloff follows the Union Cabinet’s clearance of the Promotion and Regulation of Online Gaming Bill, 2025, which aims to tighten oversight of money-based gaming platforms citing risks of addiction, money laundering, and fraud. The move has triggered sector-wide concerns, even as Nazara clarified the bill will have no direct impact on its revenues or EBITDA.
“Despite the company’s clarification, sentiment around the broader online gaming space has soured. Nazara has slipped nearly 15% in recent sessions as investors brace for regulatory overhang,” said Harshal Dasani, Business Head, INVasset.
Adding to investor jitters is Nazara’s associate, Moonshine Technologies, operator of PokerBaazi. Nazara’s 46% stake, worth over Rs 1,000 crore, has raised fears of a potential valuation hit if real-money gaming takes a knock. Analysts, however, point out that real-money gaming does not contribute to Nazara’s consolidated revenues, which are instead driven by e-sports, gamified learning, adtech, and publishing.
The stock has also been in focus for marquee investors. Rekha Jhunjhunwala fully exited her 7.06% holding in June 2025, cashing out Rs 334 crore at an average of Rs 1,225 per share. But market veterans like Madhusudan Kela and Zerodha co-founder Nikhil Kamath continue to hold stakes, signalling faith in the company’s long-term story.
What should investors do?
Analysts advise caution in the near term as regulatory clarity emerges, warning of continued volatility. However, they believe Nazara’s diversified model and healthy balance sheet make it a structural play on India’s gaming ecosystem.
“Sustained earnings delivery and reduced noise around Moonshine will be key sentiment triggers,” Dasani said.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
Read More
