07 Oct , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio: As Nazara Technologies announced raising Rs315 crore from marquee investors, the Rakesh Jhunjhunwala portfolio stock hit a lifetime high of Rs2,659 on Wednesday. The tech stock has been giving sharp upside movement for last one month with the fundraising acting as fresh trigger for the stock.
In last one month, Nazara Tech shares have rallied Rs800 apiece (from Rs1824.65 to Rs2625.10 per equity share on NSE). The sharp rally has helped its investor Rakesh Jhunjhunwala's net worth to grow by around Rs265 crore in this period.
Stock market experts are further bullish on this Rakesh Jhunjhunwwala portfolio stock. They expect Nazarata Technologies share price to continue to surge and believe that it may go up to Rs3000 per share levels in next one month.
Rakesh Jhunjhunwala shareholding in Nazara Technologies
As per shareholding pattern of Nazara Technologies for April to June 2021 quarter, Big Bull owns 32,94,310 or 10.80 per cent stake in the company. As Nazara Technologies share price shot up Rs800.45 in last one month, Rakesh Jhunjhunwala net worth in this stock grew by around Rs265 crore ( Rs800.45 x 32,94,310).
In the Year to Date (YTD) time, Nazara Technologies share price surged from Rs1592 to Rs2625.10 per equity share — rising Rs1033.10 or around 65 per cent in 2021. So, in 2021, Rakesh Jhunjhunwala’s net worth grew by Rs340 crore due to rise in Nazara Technologies shares.
Nazara Technologies — an India-based, diversified gaming and sports media platform — yesterday announced that its board has approved preferential allotment of fresh equity to raise Rs315.30 crores from marquee institutional investors subject to the approval of the shareholders of the company and such regulatory/statutory authorities as may be applicable.
The Company will issue 1,429,266 equity shares of face value of Rs4 each at a price of Rs2,206 per equity share (including a premium of Rs2,202 per equity share). As per SEBI ICDR Guidelines, these shares will be locked in for a period of 1 year from the date of issue.
This infusion of fresh funds will be utilized to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company.
Nazara Technolgies share price forecast
Advising investors to buy this Rakesh Jhunjhunwala stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Nazara Technologies shares look positive on chart pattern. One can buy this tech counter at current price for one month target of Rs2800 to Rs3000 maintaining stop loss at Rs2450 per stock levels."
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