Nazara Technologies saw heavy bulk deal activity as Zerodha Broking bought more than 35 lakh shares of the gaming company for Rs 93.05 crore in a transaction valued at Rs 265.85 per share. The deal came on a day when the stock drew strong buying interest and moved sharply higher intraday.
The shares were sold by promoter group entity Mitter Infotech, which offloaded 42 lakh shares on the NSE and 1.51 crore shares on the BSE, according to the market disclosures cited in the reports. At the end of the March quarter, Mitter Infotech held 2.26 crore shares, or 6.09% of the company.
The reports also said Nazara promoter Axana Estates bought 1.48 crore shares in a separate bulk deal worth Rs 392.9 crore. Axana Estates is a partnership between CaratLane founder Mithun Sacheti and Plutus Wealth Management founder and managing partner Arpit Khandelwal.
Market reports indicated that nearly 4.9% of Nazara’s equity changed hands through large block deals during the session. CNBC-TV18 had earlier reported that Zerodha cofounder Nikhil Kamath and promoter-backed Axana Estates were among the likely buyers, while founder Nitish Mittersain was the likely seller.
Nazara’s share price reacted sharply to the activity, rising as much as 18% intraday to Rs 314 before settling at Rs 300.10 on the day, or about 14% higher. The move reflected the market’s response to the size and structure of the block deals.
The interest around the stock also came as the company’s management highlighted an expected 15% to 20% organic growth trajectory for FY27 and a stronger margin profile in its core gaming business. Nazara had reported a net profit of Rs 55.7 crore in the fourth quarter, compared with Rs 4.1 crore a year earlier, even as revenue declined 23.5% to Rs 397.8 crore.
