Shares of Nazara Technologies Limited climbed nearly 16% on 15 May, hitting an intraday high of Rs 314 on the NSE, after block deals signaled Zerodha co-founder Nikhil Kamath's entry as a shareholder. The transactions involved 1.82 crore shares at Rs 266 each, totaling Rs 486.10 crore, or about 4.9% of the company's equity. Investors welcomed Kamath's involvement, driving the stock up 11.45% to Rs 296.45 by mid-afternoon.
Block Deals Spark Investor Confidence
Sources indicated Kamath and existing shareholder Axana Estates bought the stake, with founder and Joint Managing Director Nitish Mittersain as the probable seller. Axana Estates, which held 5.4% as of March 2026, expanded its position through these deals. The news broke early in the trading session, propelling shares higher as markets viewed Kamath's investment-a signal of faith in Nazara's gaming prospects.
Strong Quarterly Results Fuel Momentum
The deals followed Nazara's Q4FY26 earnings release, where profit tripled year-on-year to Rs 46.96 crore from Rs 15.86 crore. EBITDA doubled to Rs 74 crore, lifting margins to 18.6% from 6.7%. Revenue dipped to Rs 397.78 crore, affected by the deconsolidation of NODWIN Gaming, yet management projects 15-20% organic growth in FY27 and core gaming margins nearing 25% by year-end.
Gaming Sector Gains from High-Profile Backing
Nazara operates in India's expanding digital gaming market, blending mobile titles, esports, and interactive entertainment. Kamath's stake acquisition underscores investor interest in firms navigating regulatory shifts and monetization challenges in this domain. The stock has risen 20% over the past month and 10.41% year-to-date, within a 52-week range of Rs 215.70 to Rs 363.25, reflecting broader optimism in tech-driven entertainment amid evolving consumer habits.
