Nazara Tech shares dive nearly 13 pc; OnMobile Global declines 3.53 pc
New Delhi, Aug 20 (PTI) Shares of Nazara Technologies tumbled nearly 13 per cent on Wednesday even as the company said it has no direct exposure to real money gaming (RMG) businesses.
The stock of Nazara Technologies tanked 12.82 per cent to settle at Rs 1,221.65 apiece on the BSE. During the day, it dropped 15.97 per cent to Rs 1,177.45.
Shares of Delta Corp, which tumbled 6.47 per cent to Rs 87.24 in intra-day trade, later bounced back and ended at Rs 93.83 each, up 0.59 per cent.
OnMobile Global's stock declined 3.53 per cent to Rs 53.27 per piece.
The Lok Sabha on Wednesday passed legislation to ban online games played with money as it looks to check rising instances of addiction, money laundering and financial fraud through such applications.
The Promotion and Regulation of Online Gaming Bill, 2025, also seeks to prohibit advertisements related to online money games as well as bars banks and financial institutions from facilitating or transferring funds for any of such games.
An online money game is one played by a user by depositing money in expectation of winning monetary and other enrichment.
'The introduction of the Promotion and Regulation of Online Gaming Bill, 2025, on August 20, 2025, has sent shockwaves across the Indian gaming industry. Following the announcement, Nazara Technologies' stock slumped 13-16 per cent, touching a low of Rs 1,177.45 on the BSE," Santosh Meena, Head of Research at Swastika Investmart, said.
Earlier in the day, Nazara issued a clarification to the BSE related to the recent media reports on the proposed Promotion and Regulation of Online Gaming Bill, 2025.
'Nazara has no direct exposure to real money gaming (RMG) businesses. As per its latest reported financials (Q1-26), the contribution to revenues and EBITDA (earnings before interest, taxes, depreciation and amortisation) by RMG business is NIL," the company said in a filing to the BSE.
The company's only indirect exposure to RMG is through its 46.07 per cent stake in Moonshine Technologies Private Limited (PokerBaazi), it said.
'As Nazara does not hold a majority stake or exercise control, Moonshine's revenue is not consolidated in the company's financial statements and has no impact on the company's reported revenue or EBITDA. The contribution to PAT by Moonshine as a share of profit & loss by associate is negative in Q1-26," according to the filing.
Accordingly, the company does not anticipate any material adverse impact on its operating financial performance (revenue or EBITDA) in relation to such media reports, the filing added.
'Gaming stocks came under heavy pressure after the Union Cabinet cleared the online gaming bill, suggesting a complete ban on all real money games," Siddhartha Khemka – Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd, said. PTI SUM SUM SHW
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