Gaming Stock Extends Multi-Day Rally, Surges 21% In 3 Sessions: Details

By Malvika Gurung — Shares of the gaming and sports media platform, Nazara Technologies (NS:) continued their upward rally for the third consecutive session on Monday, rising over 7% in early trade.

The stock was last seen trading 5% higher at Rs 772/share and has zoomed 21% in the past three sessions. It has jumped 63.2% in the last three months.

Late ace investor Rakesh Jhunjhunwala was among the major public investors in the gaming stock.

Shares of Nazara Technologies have been on a buying spree, especially after Google (NASDAQ:) announced a pilot programme for offering real-money games like daily fantasy sports (DFS) and rummy apps on its Indian arm of Google Play amid the rising popularity of such applications in the country.

Google announced to run a one-year limited-time application-only pilot from Sept 28, 2022, to Sept 28, 2023, to allow DFS and rummy apps by developers incorporated in India for distribution to users on its app marketplace in India.

This has a huge potential in the country as real-money gaming apps account for the majority of the industry’s revenue in India, stated reports.

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