The board of gaming company Nazara Technologies has recommended the issue of bonus shares. The company has said this in a regulatory filing on Friday. Nazara Technologies will offer bonus shares in the ratio of 1:1. That is, the investors who will have one share will get one bonus share. Veteran investor Rakesh Jhunjhunwala has a major stake in the company. Shares of Nazara Technology closed at Rs 1,253.95, up 14.19 per cent on the National Stock Exchange on Friday.
Big Bull’s stake in the company is more than 10%
Veteran investor Rakesh Jhunjhunwala holds 32,94,310 shares or 10.10 per cent stake in Nazara Technology. These figures are of the shareholding pattern for the March quarter. Big Bull has reduced its stake in Nazara Technologies. His stake in the company stood at 10.8 per cent in the September quarter. Shares of Nazara Technologies have lost nearly 23 per cent in the last one month.
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The company’s shares fell about 50% so far this year
Shares of Nazara Technologies have lost 48.33 per cent so far this year. Earlier this year, on January 3, 2022, the company’s shares were at a level of Rs 2,408.40. The company’s shares closed at Rs 1,244.35 on May 13, 2022. The company’s shares have fallen more than 46 per cent in the last six months. The company’s shares have fallen nearly 25 per cent in the past one year.
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