NSE: NAZARA | BSE: 543280

Momentum Trap

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270.25 3.35 (1.26%)

25.60% Fall from 52W High

971.3K NSE+BSE Volume

NSE 30 Oct, 2025 3:31 PM (IST)

10,011.8

Market Cap

High in industry

0.6

Beta 1Year

Very Low volatility

Nazara Technologies Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NAZARA, BSE:543280 Nazara Technologies Ltd.

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Nazara Technologies Ltd.

13 Aug 2025

270.25

1.26%

Nazara Technologies (NAZARA IN) Q1FY26 Result Update Focus...

Hold: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

We cut our EPS estimates by 32%/15% for FY26E/FY27E amid widening losses in Nodwin and PokerBaazi. In 1QFY26, Nodwin/PokerBaazi reported an EBITDA loss of Rs110mn/Rs739mn respectively. NAZARA IN reported an in-line performance with revenues of Rs4,988mn (PLe Rs4,872mn) and EBITDA margin of 9.5% (PLe 10.0%) while PAT was aided by revaluation gain of ~Rs660mn in an investee company, STAN. NAZARA IN's plans to cede control in Nodwin by not participating in the fund raise reflects renewed focus on profitability over scale. Even the latest acquisition of Curve Games (EBITDA...

Nazara Technologies Ltd. has lost -20.57% in the last 3 Months

Nazara Technologies Ltd.

27 May 2025

270.25

1.26%

Nazara Technologies (NAZARA IN) Q4FY25 Result Update Growth...

Hold: Nazara Technologies Ltd.

Recommendation Target

Prabhudas Lilladhar

We cut our PAT estimates by 15%/6% for FY26E/FY27E as we re-align our depreciation forecast & profitability assumptions for Nodwin and downgrade NAZARA to a HOLD (earlier BUY) with a revised TP of Rs1,241 amid 26% rise in stock price over the last 1 month. NAZARA reported an EBITDA margin of 9.8% (PLe 9.0%) while PAT was impacted by an impairment charge of Rs153mn pertaining to the erstwhile accessories business. We expect sales CAGR of 27.5% over next 2 years led by the recent acquisition of Curve Games with an...

Promoters initiated pledges of 55.94% of holdings in Sep 2025 qtr.

Nazara Technologies Ltd.

17 Feb 2025

270.25

1.26%

Recent acquisitions beginning to contribute meaningfully

Buy: Nazara Technologies Ltd.

ICICI Securities Limited

Nazara Technologies (Nazara) delivered robust Q3FY25 growth, led by ad-tech and gaming segments. Growth in ad-tech was led by the recent acquisition in the UK (Space and Time Media).

Promoters initiated pledges of 55.94% of holdings in Sep 2025 qtr.

Nazara Technologies Ltd.

17 Feb 2025

270.25

1.26%

Nazara Technologies (NAZARA IN) Q3FY25 Result Update Well...

Buy: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

15%/7% in FY26E/FY27E as we re-align our growth & profitability assumptions change in revenue recognition policy of Space & Time (Ad-Tech subsidiary). However, our PAT estimates have been revised downwards by...

Promoters initiated pledges of 55.94% of holdings in Sep 2025 qtr.

Nazara Technologies Ltd.

18 Nov 2024

270.25

1.26%

NAZARA TECHNOLOGIES

Buy: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

Promoters initiated pledges of 55.94% of holdings in Sep 2025 qtr.

Nazara Technologies Ltd.

30 Sep 2024, 12:00AM

270.25

1.26%

NAZARA TECHNOLOGIES

Buy: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

Nazara Technologies Ltd. has lost -20.57% in the last 3 Months

Nazara Technologies Ltd.

15 Aug 2024

270.25

1.26%

Muted Q1FY25; eSports ramp-up and new acquisitions to take centre stage in Q2FY25

Buy: Nazara Technologies Ltd.

ICICI Securities Limited

Q1FY25 was muted, given sustained weakness in Kiddopia. While there were some positives such as ARPU improvement and reduction in churn, subscribers continued to decline.

Promoters initiated pledges of 55.94% of holdings in Sep 2025 qtr.

Nazara Technologies Ltd.

05 Jul 2024

270.25

1.26%

Takeaways from Nodwin concall: Creating a margin-accretive global delivery platform

Buy: Nazara Technologies Ltd.

ICICI Securities Limited

On 3 July’24, we hosted Nodwin’s management for an interaction with investors. Nodwin has increased its stake in Freaks 4U gaming, from 13.51% to 57%.

Promoters have increased holdings from 8.31% to 35.46% in Sep 2025 qtr.

Nazara Technologies Ltd.

09 Nov 2023

270.25

1.26%

Results a mixed bag in a seasonally weak quarter

Buy: Nazara Technologies Ltd.

Target

ICICI Securities Limited

Q2 is a seasonally weak quarter for Nodwin and GEL. Both these segments were impacted. However, strong growth in Sportskeeda and profitability improvement in Ad-tech helped balance the quarter. New acquisitions such as PFN and Animal Jam scaled up well in Q2FY24.

Nazara Technologies Ltd. has lost -20.57% in the last 3 Months

Nazara Technologies Ltd.

24 Aug 2023

270.25

1.26%

Technical View

Buy: Nazara Technologies Ltd.

StoxBox - BP Wealth

The pattern analysis on the weekly timeframe shows that the price action has entered into its stage 2 following a brief consolidation phase. The lateral trend following a 71% decline is a potential sign of accumulation and an indication that the drawdowns were finally arrested.

Number of FII/FPI investors decreased from 129 to 117 in Sep 2025 qtr

VOTE: Is Nazara Technologies Ltd. worth buying?

128 Votes:

Buy 71.88%

Sell 18.75%

Hold 9.38%

RESEARCH REPORTS

Hold SEE REPORTS >

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Hold SEE REPORTS >

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