🎮 Nazara Technologies Ltd 🎮
🎮 About:
It is well-established Indian gaming and sports 🎮media platform with a presence in India and other emerging as well as developed markets. Esports🎮 is considered as the new near-future ecosystem currently in its early stage, Company owns IP of games like WCC, CarromClash etc. It is one of the first entrants in esports🎮 and cricket stimulation in Indian markets.
🎮Financials:
❧ In the recent quarterly results company posted 17% 📈rise in its consolidated profit to Rs.4.9 Cr.
❧ Revenue from the operations was up by📈 42% to Rs.175.1 compared to Rs.123.4 Cr in a year-ago period.
❧ Company was able to surpass the revenue and EBITDA for the year despite of some issues like changes in apple policy and the changes in the real money regulations environment.
❧ Company spent 516 million on advertising and business promotion in 4th quarter.📈
❧ Revenue from Esports and real money gaming has declined comparing YoY.
❧ Company is having poor ROE and ROCE at 📉1.27% and 1.61% respectively.
❧ There is a poor growth📉 in the profit and revenue growth considering 5 years ,
❧ There is an FII holding of 10.35% and 19.32% with the promoters. DIIs hold 3.89% while the rest is with the public.
🎮 Technicals:
❧ Stock is technically 📉very weak as seen on the charts given.
❧ Stock is already below its important support zones hence looking bearish.
❧ There has been a bearish crossover📉 of 8 EMA and 50 DMA levels on the charts and the sell-off is continued in the stock
❧ RSI for the stock is at 26.45📉 which shows the strength of its weakness.
❧ Stock can be avoided for trading and investment because of the weak structure.
❧ New positions can be initiated only above 1520 levels if sustained.
❧ There is the possibility of a short-covering because the stock is currently oversold. But participating in the rally can be avoided in the volatile markets.
Disclaimer: The information mentioned above is only for educational purposes. Kindly contact your financial advisor before trading/investing 💰
Please post your views/queries in the comments below. 👇
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