Nazara Technologies stock swings wildly after major block deals shake up ownership
Shares of Nazara Technologies saw heavy trading on Wednesday after a series of large block deals. The stock surged to an intraday high of ₹314 before closing lower at ₹300.10. Nearly 4.9% of the company’s equity changed hands as key investors adjusted their positions. The trading activity began with Mitter Infotech LLP, a Nazara promoter group entity, selling 42 lakh shares on the NSE and 1.51 crore shares on the BSE. This offloading created room for new and existing investors to increase their stakes.
Axana Estates, a partnership between Mithun Sacheti and Arpit Khandelwal, purchased 1.48 crore shares in a bulk deal worth ₹392.9 crore. Meanwhile, Zerodha cofounders Nikhil and Nithin Kamath expanded their holding by acquiring over 35 lakh shares at ₹265.85 each, totalling ₹93.05 crore. Their stake in Nazara has nearly tripled since March 2021.
The flurry of deals drove Nazara’s stock up by as much as 18% during the session. However, some investors later booked profits, pulling the price back to ₹300.10 by market close.
Zerodha Broking also holds direct stakes in other listed firms, including CarTrade (1.16%), Swan Defence (1.04%), Federal Bank (1.02%), and RBL Bank (1.22%). The block deals have reshaped Nazara’s shareholder base, with Axana Estates and Zerodha’s cofounders increasing their influence. The stock’s sharp intraday movement reflects both strong demand and profit-taking. Before these trades, the Kamath brothers already held over 1.3 crore shares, representing 3.51% of Nazara’s equity.
