India's Nazara Technologies falls after units get tax orders

Nazara Technologies

18/07/2024 05:17

** Shares of gaming and sports media platform Nazara
Technologies  NAZA.NS  fall as much as 7.3% to 855 rupees
    ** Co's units Openplay Technologies and Halaplay
Technologies get tax liability orders for 8.46 bln rupees
($101.3 mln) and 2.74 bln rupees, respectively
    ** Adds units contributed less than 2% and 1% to NAZA's rev
and profit in the March quarter 
    ** Nine analysts covering the stock on average have a "buy"
rating; median PT is at 766 rupees
    ** Stock last down 2.8%, cuts YTD gains to ~5%

    ($1 = 83.5550 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))