Shares of Nazara Technologies Ltd. gained 18% to hit an intraday high of ₹314 on Friday, May 15, following significant block deal activity. According to reports from CNBC TV18, as much as 4.9% of the company's equity exchanged hands via block deals during morning trading. The stock was trading 16.11% higher at ₹308.85 around 11:11 am, marking its biggest single-day gain since August 1, 2022, when it surged 20%. Latest reports from ETMarkets confirm the rally was driven by reports of Zerodha's Nikhil Kamath upping his stake in the block deals.
As reported by CNBC TV18, Zerodha's Nikhil Kamath and existing shareholder Axana Estates are likely the buyers in the block deals. The founder Nitish Mittersain is likely the seller in Friday's block deals, according to sources familiar with the matter. At the end of the March quarter, promoters Nitish Mittersain held 2.18% stake in the company and Axana Estates LLP held 5.4% stake in the company. The latest reports from ETMarkets confirm that Nikhil Kamath is among the key investors participating in the block deals, adding to the positive sentiment around the transaction.
The company reported robust financial results for the fourth quarter, with net profit surging to ₹55.7 crore from ₹4.1 crore in the previous year. According to CNBC TV18, revenue declined 23.5% to ₹397.8 crore, while EBITDA more than doubled to ₹74 crore and EBITDA margin expanded significantly to 18.6% from 6.7% in the year-ago period.
As reported by CNBC TV18, Mittersain, who serves as joint MD and CEO of the Mumbai-based gaming company, provided optimistic guidance for FY27. The company is expecting organic growth of 15-20% in FY27 with margins in the core gaming business rising to nearly 25% by the fiscal end from 19.5% in the March quarter. This represents a substantial improvement in profitability and operational efficiency, supporting the positive investor sentiment around the company's growth prospects.
The stock has demonstrated strong momentum with gains of 17.93% on Friday, May 15, as reported by Business Today. The stock has rallied more than 45% from its 52-week low of ₹216 hit nearly two months ago, though it remains 14% below its 52-week high of ₹362.50 achieved in August 2025. The significant block deal activity and positive financial outlook have contributed to investor confidence in the gaming technology company's prospects for the coming fiscal year, with the stock now commanding a total market capitalization of more than ₹11,500 crore.
