Shares of Nazara Technologies slumped 11.18% to INR 1,085 apiece during the intraday trading session on the BSE today.
The stock was last down about 7.76% at INR 1126.85 per share as of 11:43 AM.
Market capitalisation of the company currently stands at INR 10,436.46 Cr ($1.20 Bn).
The stock is set to end its second straight session in the red, hitting its worst day since May 9.
Nazara’s slump in stock prices follows a day after the Lok Sabha passed the Promotion and Regulation of Online Gaming Bill, 2025, approved by the Union Cabinet a day earlier.
The Bill seeks “to prohibit the offering, operation, facilitation, advertisement, promotion and participation in online money games”, targeting firms that offer fantasy sports and card games where users can deposit and risk money. The legislation will now go to the Rajya Sabha for approval to become a law.
The Bill also suggests imprisonment of up to three years and fines reaching up to INR 3 Cr for those found in violation.
The passage of the Bill rattled the online gaming sector, triggering a nearly 19% slide in the gaming major’s stock to INR 1,401.35 on the BSE yesterday, before the shares clawed back some ground to close at INR 1,221.65.
Meanwhile, in a statement, Nazara assured its strong market position and clarified that it has no direct exposure to real money gaming (RMG).
“Nazara has no direct exposure to real money gaming (RMG) businesses. As per its latest reported financials, the contribution to revenues and EBITDA by RMG business is NIL. The company’s only indirect exposure to RMG is through its 46.07% stake in Moonshine,” the company added.
In terms of its financial performance, the gaming giant’s net profit more than doubled to INR 51.3 Cr in the first quarter of the financial year 2025-26, from INR 23.6 Cr in the same quarter last year.
Additionally, Nazara’s operating revenue also doubled to INR 498 Cr during the quarter under review from INR 250 Cr in Q1 FY25.
Since the start of August, Nazara’s shares have ended five sessions in red.
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