Nazara falls 12% on online gaming bill news
Nazara Technologies's stock plunged 12% on Monday after the Union Cabinet approved the Promotion and Regulation of Online Gaming Bill, 2025.
The proposed law could ban real-money gaming, which puts Nazara's investment in PokerBaazi operator Moonshine Technology at risk.
The company's shares have now dropped 27.6% over just four trading sessions.
Nazara's future in real-money games uncertain
ICICI Securities downgraded Nazara from 'Add' to 'Reduce' and cut its target price from ₹1,500 to ₹1,110, citing worries about how the new bill could hit earnings—even though other parts of Nazara's business remain steady.
The bill aims to tackle issues like mental health and money laundering by regulating online gaming in India, but it's left gaming companies worried about their future in real-money games.