Big brokerage house is bullish on this stock of Rakesh Jhunjhunwala, gave a target of 2,000

Big brokerage house is bullish on this stock of Rakesh Jhunjhunwala, gave a target of 2,000

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new Delhi. Shares of Nazara Technologies, included in the portfolio of veteran investor Rakesh Jhunjhunwala, have fallen by 30% in 2022. Talk about this month, its price has come down by 19%. Nevertheless, brokerage house IIFL feels that this gaming stock may start trending upwards from now on, as Nazara has tremendous potential to acquire and scale up companies in the gaming ecosystem and thereby increase the risk of stocks. Value will increase.

According to the BSE shareholding pattern, India’s big investor Rakesh Jhunjhunwala holds 10.10 percent shares in the company. This data is according to the figures for the quarter ended 31 December 2021.

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Analysts at IIFL see Nazara Technologies as the key beneficiary of the under-penetrated, high-growth, gaming and allied markets in India. They believe that Nazara will continue to work towards acquisition and enhancement of assets based on our strong relationships, in-house content and technology stack. As a result of this, its network will become effective and the company will make good profits.

The brokerage firm has given an Add rating to the stock, which means it can be bought. Apart from this, based on the company’s growth profile, market potential and comparison with other companies in the same sector, the firm has given a target of Rs 2,000.

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share price history

On 30 March 2021, the share of Nazara was listed on the National Stock Exchange (NSE) at a price of Rs 1,990. On the same day it closed at Rs 1,552. After this, till September 15, 2021, this stock kept rotating between 1,980 (upper level) to 1450 (lower level). On September 14, this stock crossed the level of 1,980 and made a high of Rs 3,356 on October 11, 2021 (within about a month).

After its high level, this stock started sliding again and it has given closing at Rs 1,720 today i.e. on 28 February 2022. The stock is currently down up to 50 percent from its high level and once again it has entered the zone of 1,980 (upper level) to 1450 (lower level).

Tags: Rakesh Jhunjhunwala, Stock tips

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